Trading Market Commentary August 2, 2017


On Thursday we'll hear from BOE (Bank of England), a however market may still see Friday's Employment situation in the United States as the important center of attention for the week; by having a hope of headline news number around 200,000 jobs.

US Market 

The American market started out nicely seeing the Apple (AAPL) results, as we can list one more new all-time high for the DowJones which in turn generated history by finally breaking the 22,000 level, however, it ended up being the lone player. The larger NASDAQ, as well as S&P500, didn't follow the momentum, and by the afternoon, the market found it self down around minus 0.35%. 

Afternoon trading session watched the mega-cap index recoup the majority of the morning's pullback, hitting the 22,000 level and moving ahead. On this occasion, we had the NASDAQ and S&P500 heading with the DJ (DowJones) managing to finish on the positive side on the day. 

With the Apple's positive earnings report the stock ended with the closure on the day with plus 5.5% and up 36% Year-to-date. An interesting fact is that the DJ has put on 250 points in the last four days even though the S&P500 managed to lose 2-points. At the same time, we had the DowJones Transportation Index rebound yet again off of the 200-day  moving average (MA); Year-to-date the Index increased around 1%. 

European Markets

Eurozone continues to be the weakest organ of the global equity market, even with Wednesday’s inspiring jump, as the Old Continent region experiences battles with the rising Euro Dollar. Thus far Eurozone has experienced a tough time following results released from large industrials, mining, and financials. The robust energy market sector hasn't been a great performer lately and thus should be more competitive than one would have thought, however, it was the financial sector that took over the vast majority of trading on Wednesday.

The French CAC40 was down 0.4%, along with Society General that lost 4%which controlled the market action after displaying profits which dropped almost 30% in the past quarter. While Commerzbank lost 1.6%, and Deutsche Bank was down 1.1%, both equities pushed the German DAX30 to close on minus side with 0.6% loss. Spanish IBEX35 was dragged to side negative by 0.7% along with Banco Santander which surrendered 0.8%. 

Asia-Pacific Market

Asia-Pacific region rallied through the night and found renewed help from the unexpected surprise Apple's result having a overcome both numbers and units at the same time. An import note here ended up being the actual size of options traded with regards to the results - seems as if market-makers had been running short on the resulting release!  

All of the Asian markets cherished the good news, entering into positive territory from the opening bell. But, it was not  very long until the month of August doldrums’ proceed and then the market started feeling the selling pressure mostly impacting Shanghai market and well as the Aussie's. 

The Japan Nikkei225 did manage to boost its recent results as it has sealed soundly above the psychological 20,000 level, by adding 0.5% on Wednesday. Sensex (S&P Bombay Stock Exchange Sensitive Index) closed down minus 0.3% on the day.

Currency Market

The major currencies reaped the benefit on Wednesday as Eurozone stocks lost while the Euro Dollar was up plus 0.6% on the day, and the shared currency is up around two-year highs. This advance has helped British Pound which has been up 0.3% on the session at 1.323. The Japanese Yen continues to play middle 110 even handle that's having an impact on exporters nevertheless is within acceptable ranges for now.

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