Logo 2016

Increase Font Increase Font

Morning (AM) Market Report

The S&P 500 and the Dow slipped while the Nasdaq posted a slim gain overnight as investors struggled to square grim retail sales data with hopes that high-level talks in Beijing could resolve the ongoing US-China trade dispute.

Friday, 15th February, 2019

Asian markets finished lower with shares in Hong Kong leading the region. The Hang Seng is down 0.23 percent while China's Shanghai Composite is off 0.05 percent. A potential extension of the March 1 deadline of the trade talks has largely been priced in. Beijing reported better than expected export growth in January, a 9.2 percent year-on-year increase that beat a median forecast of a 3.3 percent drop by economists polled by Bloomberg. Japan's Nikkei 225 is lower by 0.02 percent.

European shares gave up three-month highs after a surprise sharp decline in U.S. retail sales pulled stocks lower in afternoon trading, spoiling an initially upbeat session that saw blue-chips such as Nestle shine on strong earnings. The pan-European STOXX 600 closed down 0.2 percent after spending the first half of the day in positive territory. Frankfurt's DAX, which had showed resilience after GDP data revealed the euro zone's largest economy only just escaped falling into recession in the fourth quarter, ended the day as the worst performer. Some European industrial and consumer staple heavyweights managed to pull out a decent day. Airbus delivered better-than-expected results, taking some of the sting out of news that Europe's largest aerospace group has abandoned its flagship A380 program. Its shares jumped at the open and ended the day up 2.7 percent.

The S&P 500 and the Dow slipped while the Nasdaq posted a slim gain as investors struggled to square grim retail sales data with hopes that high-level talks in Beijing could resolve the ongoing US-China trade dispute. The Dow Jones Industrial Average fell 103.88 points, or 0.41 percent, to 25,439.39, the S&P 500 lost 7.3 points, or 0.27 percent, to 2,745.73 and the Nasdaq Composite added 6.58 points, or 0.09 percent, to 7,426.96.

Ahead of the local open SPI futures were 11 point lower at 6,002.

Foreign Equities Close Change % Change 
Dow Jones (US) 

25439

-104

-0.41
FTSE 100 Index 7197 6 0.09
HKSE 28432 -66 -0.23
NASDAQ 7427 7 0.09
Nikkei 225 (Japan) 21140 -5 -0.02
NZ50 9285 -48 -0.52
S&P 500  2746 -7 -0.27
Commodities US$ Close Change % Change 
Aluminium  /t 3mth 1821 -12 -0.67
Copper  /t 3mth 6137 14 0.22
Gold  /oz 3mth 1312 9 0.67
Lead  /t 3mth 2034 25 1.26
Nickel  /t 3mth 12120 -204

-1.66

Oil - West Texas Crude  /t 3mth 54.4 0.5 0.95
Zinc  /t 3mth 2589 -4 -0.17
Currency Close Pts Change % Change 
$A vs $US 0.7103 0.0014 0.20
$A vs GBP 0.5549 0.0034 0.62
$A vs EUR 0.6289 -0.0005 -0.07
$A vs YEN 78.49

-0.16

-0.20
$A vs NZD 1.0388 -0.0026 -0.25