Daily Markets Broadcast 2019-08-28

By MarketPulse (Andrew Robinson)ETFsAug 28, 2019 12:11AM ET

www.investing.com/analysis/daily-markets-broadcast-20190828-200459179

Daily Markets Broadcast 2019-08-28

By MarketPulse (Andrew Robinson) | Aug 28, 2019 12:11AM ET

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Wall Street slides as trade tensions simmer

A positive start on Wall Street yesterday was wiped out amid persistent concerns about the US-China trade war and an inverted US yield curve, which many view as the forerunner to a recession. Oil prices rose following a heavy inventory drawdown.

US30USD Daily Chart

US30USD Daily Chart

The Dow Jones 30 Futures index retreated from highs for the week to close lower as trade war and recession fears dominated

The index is still holding above the 200-day moving average at 25,599. That moving average has supported prices on a closing basis for two weeks

There are no major US data releases scheduled today. We can expect speeches from the Fed’s Barkin and Daly.

DE30EUR Daily Chart

DE30EUR Daily Chart

The DAX Futures index looks set to climb for third straight day today after posting early gains this morning. A more positive mood on Brexit discussions is helping sentiment

The index has regained the 200-day moving average at 11,667. The gains made so far this week, if maintained, could result in the first up-week in five weeks

The first revision to Q2 German GDP held no surprises, with no change to the first reading of -0.1% q/q and 0% y/y. The main event on today’s calendar will be Germany’s Gfk consumer confidence survey for September, which is seen sliding to 9.6 from 9.7 this month.

WTICOUSD Daily Chart

WTICOUSD Daily Chart

Crude Oil jumped the most in two weeks after the American Petroleum Institute announced the biggest weekly drawdown of inventories since January 2018. Inventories were cut by 11.1 million barrels

The index is rising toward the 200-day moving average at $55.99 and the 55-day moving average at $56.17. The 55-day moving average moved above the 200-day moving average last week

Tonight we see the weekly stockpiles data from the Energy Information Administration. Analysts’ estimates suggest a drawdown of 2.13 million barrels after a 2.73 million barrel decrease last week.

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Central Banks

Interest Rates

Next Meeting

FED

4.50%

Mar 19, 2025

ECB

2.90%

Mar 06, 2025

BOE

4.50%

Mar 20, 2025

SNB

0.50%

Mar 20, 2025

RBA

4.10%

Apr 01, 2025

BOC

3.00%

Mar 12, 2025

RBNZ

3.75%

Apr 09, 2025

BOJ

0.50%

Mar 19, 2025

CBR

21.00%

Mar 21, 2025

RBI

6.25%

Mar 10, 2025

PBOC

3.10%

BCB

13.25%

Mar 19, 2025

US 30	43,531.0	+69.1	+0.16%
US 500	5,984.9	+1.4	+0.02%
Dow Jones	43,461.21	+33.19	+0.08%
S&P 500	5,983.25	-29.88	-0.50%
Nasdaq	19,286.93	-237.08	-1.21%
S&P 500 VIX	19.38	+0.40	+2.11%
Dollar Index	106.290	-0.219	-0.21%

Crude Oil WTI	70.35	-0.35	-0.50%
Brent Oil	73.88	-0.43	-0.58%
Natural Gas	4.015	+0.033	+0.83%
Gold	2,954.81	-8.39	-0.28%
Silver	32.460	-0.143	-0.44%
Copper	4.5962	+0.0327	+0.72%
US Soybeans	1,027.25	-1.75	-0.17%

U.S. 10Y	4.317	-0.076	-1.73%
U.S. 30Y	4.579	-0.070	-1.51%
U.S. 5Y	4.150	-0.080	-1.89%
U.S. 3M	4.297	-0.002	-0.05%
US 10Y T-Note	110.38	+0.50	+0.46%
Euro Bund	132.38	+0.54	+0.41%
10-2 Yield Spread	22.59	-0.34	-1.48%

Apple	247.10	+1.55	+0.63%
Alphabet A	179.25	-0.41	-0.23%
Tesla	330.53	-7.27	-2.15%
Amazon.com	212.71	-3.87	-1.79%
Netflix	988.47	-14.68	-1.46%
Meta Platforms	668.13	-15.42	-2.26%
Bank of America	44.46	-0.35	-0.78%

Daily Markets Broadcast 2019-08-28

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