Thursday, 3 August 2017

Finance: Here's a super-quick guide to what traders are talking about right now

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., July 19, 2017. REUTERS/Brendan McDermid

Dave Lutz, head of ETFs at JonesTrading, has an overview of markets this Thursday

Dave Lutz, head of ETFs at JonesTrading, has an overview of today's markets.

  • US futures markets are flat this morning.
  • The rest of the world is mixed, but mostly flat.
  • Gold, silver and copper are all lower. Oil is up slightly and natural gas is getting hit pretty hard.

Here's Lutz:

Morning! US Futures basically flat, with Nasdaq slightly higher, but Russell floundering under the 50d. Europe is weakening as the session rolls on - DAX is down 20bp on this biggest day of numbers this earnings season - Industrials weighed down by a 3%+ whack in Siemens, but Autos recovering some of recent weakness on BMW #s. Stronger Euro hit Merck, while another Auto-Parts company (Continental) struggled. Fins struggling across the continent, but Italy outperforming as UniCredit jumps on #s. In London, FTSE up small as Retailers rally behind NEXT update and Miners on Randgold. Volumes are light in the City tho, with FTSE trading 20% below normal trend. In Asia, KOSPI was hit for 1.7% as yesterday’s Tax headlines weighed and Samsung was whacked for 2.5% - Taiwan’s Taiex retreated 50bp from multi-decade peaks - Hang Seng off 30bp as Retail Sales disappointed - Aussie lost 20bp, weighed down by Rio

The US 10YY drifts just above 2.25% as investors await tomorrow’s Payroll data. The DXY just off 15month lows, with Euro lower as Weaker EU PMis weigh. While \Sterling direction awaiting BOE at 7 as it rests near 11month highs. $/Y is basically flat, and commodity currencies like the Aussie $ are broadly lower. No rebound in metals, with Gold, Silver and Copper all 50bp+ lower – while the Oil complex seeing a weak bounce early. Natty Gas the commodity to watch – it has been hit for 5% over the last week into today’s inventory report.

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