Disclaimer: All information on this section is of a general nature.
Before making any investment decision, you should seek the relevant advice.
Market Opener – 28 Nov 2017
Local Markets Commentary
The Australian market opens this morning following the first full US equities trading session since Wednesday last week, and this morning’s publication of US Federal Reserve chair nominee Jerome Powell’s prepared testimony for his confirmation meeting with a Senate banking committee tonight.
Overnight price falls across several commodities are likely to impact at least some early trade.
WTI crude swung lower. US gold futures gained. Iron ore (China port, 62% Fe) turned to trade lower. LME copper fell. Nickel dropped.
The $A fell to ~US76.0c after trading at US76.20c early yesterday evening.
Locally pre-trade, a weekly consumer sentiment index is due.
TNE trades ex-dividend today, but is not the only high-profile stock to do so this week.
Several large-cap stocks also hold AGMs.
Overseas Market Commentary
Choppy trade featured across major European equities markets overnight and US markets mostly gave up early gains in a session that indicated skittish sentiment.
Sector-specific factors also weighed. An oil price fall hurt energy stocks, and a major researcher downgraded chip manufacturers.
US retail sales from ‘Black Friday’ through Sunday ‘were reported at a record ~US8B, bolstering expectations of ~$US7B for ‘Cyber Monday’ and supporting select retail sector trade, however.
In US data releases, October new home sales were calculated 6.2% higher, at a 10-year peak, following expectations of a fall. A Texas region November manufacturing index pulled back 8.2 points to 19.4. A decline was forecast but by less than half that magnitude.
In Germany, a from-the-top-promoted possible four-way coalition, rather than the initially proposed three-party government, was cited as one reason the euro traded at a two-month peak against the $US.
Tonight in the US, Jerome Powell, nominated as the next US Federal Reserve chair, meets with a Senate banking committee as part of his confirmation.
Among data releases, October wholesale inventories, two house price indices, a consumer confidence report and a regional manufacturing index are due.
The Australian market opens this morning following the first full US equities trading session since Wednesday last week, and this morning’s publication of US Federal Reserve chair nominee Jerome Powell’s prepared testimony for his confirmation meeting with a Senate banking committee tonight.
Overnight price falls across several commodities are likely to impact at least some early trade.
WTI crude swung lower. US gold futures gained. Iron ore (China port, 62% Fe) turned to trade lower. LME copper fell. Nickel dropped.
The $A fell to ~US76.0c after trading at US76.20c early yesterday evening.
Locally pre-trade, a weekly consumer sentiment index is due.
TNE trades ex-dividend today, but is not the only high-profile stock to do so this week.
Several large-cap stocks also hold AGMs.
Overseas Market Commentary
Choppy trade featured across major European equities markets overnight and US markets mostly gave up early gains in a session that indicated skittish sentiment.
Sector-specific factors also weighed. An oil price fall hurt energy stocks, and a major researcher downgraded chip manufacturers.
US retail sales from ‘Black Friday’ through Sunday ‘were reported at a record ~US8B, bolstering expectations of ~$US7B for ‘Cyber Monday’ and supporting select retail sector trade, however.
In US data releases, October new home sales were calculated 6.2% higher, at a 10-year peak, following expectations of a fall. A Texas region November manufacturing index pulled back 8.2 points to 19.4. A decline was forecast but by less than half that magnitude.
In Germany, a from-the-top-promoted possible four-way coalition, rather than the initially proposed three-party government, was cited as one reason the euro traded at a two-month peak against the $US.
Tonight in the US, Jerome Powell, nominated as the next US Federal Reserve chair, meets with a Senate banking committee as part of his confirmation.
Among data releases, October wholesale inventories, two house price indices, a consumer confidence report and a regional manufacturing index are due.