Logo 2016

Increase Font Increase Font

Morning (AM) Market Report

Wall Street's three major indexes closed lower overnight, with tobacco stocks leading a tumble in consumer staples while concerns about smartphone demand hurt the technology sector.

Friday, 20th April, 2018

Cigarette giant Philip Morris International Inc was the second biggest weight on the S&P after weaker-than-expected results, also pulling down US tobacco company Altria. A warning from Taiwan Semiconductor (TSMC), the world's largest contract chipmaker and an Apple Inc supplier, on soft demand for smartphones and on the industry's growth this year sparked a tumble in chip stocks and made Apple the S&P's second biggest weight.

The Dow Jones Industrial Average closed 83.18 points, or 0.34 percent lower, at 24,664.89, the S&P 500 lost 15.51 points, or 0.57 percent, to 2,693.13 and the Nasdaq Composite dropped 57.18 points, or 0.78 percent, to 7,238.06.

The UK's top share index rose on Thursday as surging crude oil prices boosted commodity stocks and Shire's shares jumped as bid talk heated up. The FTSE 100 ended the session 0.2 percent higher at 7,328.92 points, its highest since early February. The mid-cap index also gained, up 0.7 percent. In other European markets, Germany was down 0.19 percent, and France was up 0.21 percent.

Resource stocks rallied in Asia on Thursday as oil prices hit heights not seen since late 2014 and ignited a rally across commodities, though the potential boost to inflation globally also put some pressure on fixed-income assets. Resource stocks were the big winners, driving Chinese blue chips up 1.1 percent. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.9 percent, with energy up over 2.6 percent. Japan's Nikkei faded late in the day to end up 0.15 percent, and Hong Kong's Hang Seng index rose 1.4 percent.

Ahead of the local open SPI futures were 10 points lower at 5,844.

Foreign Equities Close Change % Change 
Dow Jones (US)  24665

-83

-0.34
FTSE 100 Index 7329 12 0.16
HKSE 30708 424 1.40
NASDAQ 7238 -57 -0.78
Nikkei 225 (Japan) 22191 33 0.15
NZ50 8373 4 0.04
S&P 500  2693 -16 -0.57
Commodities US$ Close Change % Change 
Aluminium  /t 3mth 2495 -46 -1.81
Copper  /t 3mth 6942 -39 -0.56
Gold  /oz 3mth 1345 -3 -0.19
Lead  /t 3mth 2330 -43 -1.83
Nickel  /t 3mth 15021 -203

-1.34

Oil - West Texas Crude  /t 3mth 68.3 -0.1 -0.20
Zinc  /t 3mth 3209 -39 -1.22
Currency Close Pts Change % Change 
$A vs $US 0.7727 -0.0061 -0.78
$A vs GBP 0.5486 0.0004 0.07
$A vs EUR 0.6259 -0.0032 -0.50
$A vs YEN 83.00 -0.57 -0.68
$A vs NZD 1.0629 -0.0003 -0.03