Disclaimer: All information on this section is of a general nature.
Before making any investment decision, you should seek the relevant advice.
Market Opener – 22 Aug 2018
Local Markets Commentary
Domestic earnings reports will again feature in Australian market mid-week trade, with another swag of high-cap stocks also trading ex-dividend, and analyst reassessments.
Australia’s political leadership is considered to remain fluid and will also retain the spotlight.
Any new successful bid for a change in the prime ministership could spawn ruling coalition resignations that would force a national election.
Also locally today, Reserve Bank of Australia (RBA) deputy governor Guy Debelle is due to spake on Low Inflation at an Economic Society of Australia lunch in Brisbane, 1.10pm AEST.
This morning, the Melbourne Institute and Westpac publish their monthly leading index report.
The ABS releases June quarter construction activity statistics and, later today, the Department of Jobs and Small Business reveals skilled job vacancies.
AGL, AMP and LNK are among high-profile domestic stocks trading ex-dividend today. Details can be found on p4.
Overnight international equities and commodities trade proved mixed. Notably, US futures have fallen this morning, following adverse legal accusations against the US president.
Oil extended its current run higher.
US gold futures notably climbed further.
LME copper continued to rally, but not so aluminium or nickel.
The $A headed to ~US73.60c after rising beyond US73.55c early yesterday evening.
Regionally today, Singapore’s markets will not trade, due to a public holiday.
Overseas Market Commentary
Major European and US equities markets mostly opened higher overnight, but weak FTSE 100 sentiment produced choppy trade that could not retain any gains.
The S&P 500, however, attained a new record intra-session peak, just one day shy of surpassing the length of previous record-long bull run, as the $US fell further.
Meanwhile, the US administration further threatened Russia ahead of new US sanctions that have been scheduled to come into effect against Russia from later today.
Earlier this month, two days of China-US trade talks were scheduled to commence tonight in Washington, but earlier than this, increased import tariffs on goods from the US to China and vice versa were slated to commence from tomorrow.
The US administration in the meantime announced plans for power generation-related new carbon dioxide emissions regulation.
Overnight in the UK, public sector finances revealed the largest July budget surplus for 18 years, boosted by seasonal income tax payments. Net borrowing was estimated at the least in 12 years. The April – July deficit came in 40% lower year-on-year, at £12.8B.
Also in the UK, a CBI industrial trends factory orders index was reported to have dropped to seven from 11.
US Federal Reserve policy meeting minutes are due in the US tonight.
Weekly mortgage applications and July existing home sales are also expected.
Some traders will likely focus on bull-run records, but others will watch commentary from implications of confessions revealed by the president’s former lawyer this morning (AEST).
Companies scheduled to report earnings tonight include US retailers Lowe’s and Target.
In overnight corporate news, US retailer Kohl’s raised its 2018 earnings guidance after exceeding quarterly expectations, but subsequently settled essentially flat.
US to-end residential builder Toll Brothers was pushed ~14% higher on 27% higher, $US1.9B quarterly revenue and a lift in the group’s full year revenue forecast.
Coty was pushed ~7% lower on lower-than-anticipated sales.
Discount online brokers suffered on JP Morgan Chase plans for a digital investing business, featuring discounts and no-charge access to research, from next week.
Numerous markets are closed throughout the Middle East and in select other nations today and/or through to the end of the week, due to Eid observance.
Domestic earnings reports will again feature in Australian market mid-week trade, with another swag of high-cap stocks also trading ex-dividend, and analyst reassessments.
Australia’s political leadership is considered to remain fluid and will also retain the spotlight.
Any new successful bid for a change in the prime ministership could spawn ruling coalition resignations that would force a national election.
Also locally today, Reserve Bank of Australia (RBA) deputy governor Guy Debelle is due to spake on Low Inflation at an Economic Society of Australia lunch in Brisbane, 1.10pm AEST.
This morning, the Melbourne Institute and Westpac publish their monthly leading index report.
The ABS releases June quarter construction activity statistics and, later today, the Department of Jobs and Small Business reveals skilled job vacancies.
AGL, AMP and LNK are among high-profile domestic stocks trading ex-dividend today. Details can be found on p4.
Overnight international equities and commodities trade proved mixed. Notably, US futures have fallen this morning, following adverse legal accusations against the US president.
Oil extended its current run higher.
US gold futures notably climbed further.
LME copper continued to rally, but not so aluminium or nickel.
The $A headed to ~US73.60c after rising beyond US73.55c early yesterday evening.
Regionally today, Singapore’s markets will not trade, due to a public holiday.
Overseas Market Commentary
Major European and US equities markets mostly opened higher overnight, but weak FTSE 100 sentiment produced choppy trade that could not retain any gains.
The S&P 500, however, attained a new record intra-session peak, just one day shy of surpassing the length of previous record-long bull run, as the $US fell further.
Meanwhile, the US administration further threatened Russia ahead of new US sanctions that have been scheduled to come into effect against Russia from later today.
Earlier this month, two days of China-US trade talks were scheduled to commence tonight in Washington, but earlier than this, increased import tariffs on goods from the US to China and vice versa were slated to commence from tomorrow.
The US administration in the meantime announced plans for power generation-related new carbon dioxide emissions regulation.
Overnight in the UK, public sector finances revealed the largest July budget surplus for 18 years, boosted by seasonal income tax payments. Net borrowing was estimated at the least in 12 years. The April – July deficit came in 40% lower year-on-year, at £12.8B.
Also in the UK, a CBI industrial trends factory orders index was reported to have dropped to seven from 11.
US Federal Reserve policy meeting minutes are due in the US tonight.
Weekly mortgage applications and July existing home sales are also expected.
Some traders will likely focus on bull-run records, but others will watch commentary from implications of confessions revealed by the president’s former lawyer this morning (AEST).
Companies scheduled to report earnings tonight include US retailers Lowe’s and Target.
In overnight corporate news, US retailer Kohl’s raised its 2018 earnings guidance after exceeding quarterly expectations, but subsequently settled essentially flat.
US to-end residential builder Toll Brothers was pushed ~14% higher on 27% higher, $US1.9B quarterly revenue and a lift in the group’s full year revenue forecast.
Coty was pushed ~7% lower on lower-than-anticipated sales.
Discount online brokers suffered on JP Morgan Chase plans for a digital investing business, featuring discounts and no-charge access to research, from next week.
Numerous markets are closed throughout the Middle East and in select other nations today and/or through to the end of the week, due to Eid observance.