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Morning (AM) Market Report

US stocks have ended slightly lower as a drop in healthcare shares overshadowed a string of positive corporate earnings and upbeat economic data from the US and China.

Thursday, 18th April, 2019

The Shanghai Composite finished up 9.52 points, or 0.29 percent, at 3263.12. In Hong Kong, the Hang Seng Index finished flat, down 5.19 points, or 0.02 percent, at 30,124.68. China's industrial output surged 8.5 percent in March from a year earlier, the fastest pace since July 2014 and well above forecasts of a 5.9 percent increase. Retail sales also pleased, with a rise of 8.7 per cent. Japan's Nikkei advanced as automakers rallied on hopes of progress in Japan-US trade talks, while companies with large exposure to China gained on upbeat Chinese economic data. The Nikkei share average ended up 0.3 per cent at 22,277.97, its highest closing level since early December.

European stock markets mostly rose as strong data from the world's two top economies sparked fresh hope for the growth outlook. US numbers released before Wall Street's opening bell showed that the trade deficit in February fell to its lowest level in eight months, thanks in part to rising aircraft and auto exports, according to government data. Eurozone stock markets were firmly in positive territory at the close, while London lagged its peers as the pound strengthened. London closed flat, Frankfurt rose 0.4 per cent and Paris ended up 0.6 percent.

US stocks have ended slightly lower as a drop in healthcare shares overshadowed a string of positive corporate earnings and upbeat economic data from the US and China. All three major US stock indexes ended the session in negative territory, with the S&P 500 remaining just within a percent below its record high reached in September. The healthcare sector saw its biggest percentage drop in four months, falling 2.9 percent on regulatory worries.

The Dow Jones Industrial Average fell 3.12 points, or 0.01 percent, to 26,449.54, the S&P 500 lost 6.61 points, or 0.23 percent, to 2,900.45 and the Nasdaq Composite dropped 4.15 points, or 0.05 percent, to 7,996.08.

Ahead of the local open SPI futures are 6 points higher at 6,245.

Foreign Equities Close Change % Change 
Dow Jones (US) 

26450

-3

-0.01
FTSE 100 Index 7471 1 0.02
HKSE 30125 -5 -0.02
NASDAQ 7996 -4 -0.05
Nikkei 225 (Japan) 22278 56 0.25
NZ50 9982 74 0.74
S&P 500  2900 -7 -0.23
Commodities US$ Close Change % Change 
Aluminium  /t 3mth 1834 -3 -0.19
Copper  /t 3mth 6537 68 1.05
Gold  /oz 3mth 1274 -1 -0.11
Lead  /t 3mth 1927 27 1.41
Nickel  /t 3mth 12813 -54

-0.42

Oil - West Texas Crude  /t 3mth 63.9 -0.3 -0.50
Zinc  /t 3mth 2917 18 0.62
Currency Close Pts Change % Change 
$A vs $US 0.7174 0.0012 0.16
$A vs GBP 0.5503 0.0013 0.23
$A vs EUR 0.6351 0.0004 0.06
$A vs YEN 80.38

0.17

0.21
$A vs NZD 1.0654 -0.0013 -0.12