stock market morning report

Stock Market Today: Market Inches Positive

European stocks went on their fifth direct week of gains on Friday and investors buying into the oil and gas and banking sectors, and Novo Nordisk rising after oral diabetic drugs allowed.

The UK FTSE 100 benchmark was closed at 0.16 percent, Dax Germanys finished up to 0.08 per cent, while the French CAC finished 0.56 per cent a day.

stock market morning report

Wall Street’s main indexes collapsed on Friday, after Montana Farm Bureau said that Chinese agricultural officials who were due to visit next week’s farm states had canceled their trip, alleviating hope for U. trade talks.

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Dow Jones closed down 0.59 percent, ending S&P 500 down 0.49 percent, Nasdaq finished the day down 0.80 percent.

The results from the Exchequer were steady on Friday as the New York Federal Reserve carried out another repurchase operation to facilitate conditions in the short-term foreign markets, and as investors continued to assess whether there is a likelihood of further interest rates being reduced this year.

The 10-year benchmark note price was 1/32 to obtain a yield of 1.772%, down from 1.774% on Thursday. The yield curve between two-year notes and 10-year notes.

The gold was higher on Friday, moving towards its first weekly rise in four, as investors concentrated on the tension in the Middle East and peak peaks at the peak.

Out gold, 0.6% got to $ 1,508.63 per ounce, up to 1.5% so far this week. US gold futures were set up 0.6% at $ 1,515.10.

Friday’s oil prices generated renewed concerns about the US trade war.

Brent raw futures fell 12 cents to arrange at $ 64.28 barrel, and U. West Texas Intermediate (WTI) futures fell 4 cents lower at $ 58.09 barrel.

The European currency showed a moderate decline against the US dollar on Friday, returning to previous local lows of September 17. The development of negative dynamics was facilitated by weak macroeconomic statistics from Europe. Germany’s Producer Price Index fell by 0.5% MoM in August after rising by 0.1% MoM in the previous month. Analysts expected a decline of 0.2% MoM. YoY, the index growth slowed down from +1.1% to +0.3%, which also turned out to be worse than forecast of +0.6% YoY. Preliminary data on Consumer Confidence in the euro area also did not provide significant support for the euro. In September, the indicator slightly increased from –7.1 to –6.5 points, which turned out to be better than expectations of –7.0 points. During today’s Asian session, the pair is growing, being influenced by technical factors. Investors are awaiting the publication of Markit PMI in Europe for September.

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GBP/USD

The British pound fell against the US currency on Friday, retreating from updated local highs of July 5. Investors are again concerned about the threat of a tough Brexit, which serves as an additional source of market uncertainty. Speaking on Friday, European Commission President Jean-Claude Juncker said that Britain’s withdrawal from the EU without an agreement would lead to border controls between Ireland and Northern Ireland. Juncker noted that he still counts on concluding a final deal, but the risks of a “tough” scenario cannot be ignored. During today’s Asian session, the pair is trading upwards, and investors expect new drivers to appear on the market. With the opening of the American trading session, investors expect publication of Markit PMI in the US for September.

AUD/USD

The Australian dollar showed a steady decline against the US currency on Friday, updating local lows of September 4. The instrument remains under pressure amid the worsening growth prospects of the global economy and the lack of visible progress in US-Chinese trade negotiations, which should become more active in early October. During today’s Asian session, the pair is trading with a slight increase. Investors are focused on Commonwealth Bank PMI in Australia. In September, according to preliminary estimates, Manufacturing PMI fell from 50.9 to 49.4 points, which turned out to be worse than expectations of 50.9 points. Services PMI increased from 49.1 to 52.5 points, which was significantly better than expectations of 45.3 points. Composite PMI in September rose from 49.3 to 51.9 points, confidently consolidating above the psychological mark of 50 points.

USD/JPY

The US dollar fell against the Japanese yen on Friday, continuing to develop the “bearish” impulse formed the day before. Investors are holding long positions amid a worsening crisis in the Middle East. At the end of last week, US President Donald Trump approved the dispatch of US troops to Saudi Arabia to strengthen defense after the attack on oil production facilities that occurred the week before last. It is too early to speak of the beginning of a full-fledged military operation, but alarming signals worry investors and increase interest in safe assets. Today, the pair is trading in both directions, waiting for the appearance of new drivers at the market. Japanese markets are closed due to the Autumn Equinox Day, so all the attention of traders is focused on American and European statistics.

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Oil

Oil prices rose slightly on Friday, but returned to negative dynamics closer to the end of the afternoon session. Quotes are supported by rising tensions in the Middle East after an attack on key oil production facilities in Saudi Arabia the week before last. The Kingdom announced a military operation north of the city of Hodeidah, while Donald Trump approved the sending of troops to Saudi Arabia to strengthen defense capabilities. In addition, it became known that Riyadh is actively importing oil production equipment from the United States, so that by the end of the month most of the stopped facilities can be restored. Baker Hughes report released last Friday indicated a sharp decrease in the number of active oil rigs in the US from 733 to 719 rigs, which also provided significant support for quotes.