Oil/mrkts...5 Sep 2018 06:50
The 100 opened weakly to flat in early dealings with only the PMI construction nos for the mrkt to digest, they showed a slowing down and chatter re the Gov of the BOE "Will he go or will he Stay?....looks like he's staying put.
The Head Honcho of TSB takes home £1.7m under contractual terms for the abject failure of their software /IT systems and haemorraging customers...N.I.C.E.
The 100 closed off 47 (7458) having turned lower when the Dow fell 150 almost from the bell. Sterling recovered a touch, the 250 down 147, All Share (-26) and Aim u/c.
In N.Y stocks picked up late to close the session down the 30 lost 12 at (25952), S&P fell 5 & Nsdq down 18. Incidentally both the S&P and Nsdq are just off 5 consecutive monthly gains.
Earlier news of Canada talks resuming to revise the NAFTA agreement met with little response as did $200bn on China tariffs starting this Thursday.
Stocks in focus were Nike (-3%)
as new ad campaign featuring Kaepernick 'the knee' the NFL Q back who led player revolts against racism, social injustices & police brutality sent Nike stock lower.
Facebook sagged 3% on broker downgrade, Conns Ind tanked 9% on poor Q2 results and SOTM
Tesla cont its slide falling another 13% to $289.
Going the other way were Nordstrom which added 3% and Amazon pushed up 1% to close at just under $1trillion ($2030) after becoming the 2nd Co to hit the magic no, it was just $1.50 a share in 1997! Top of the poppermost on the 'big board' were Home Depot and Boeing.
Widespread losses in Asia, TK off only 92 with just 5/33 subindexes
gaining. It's been a miserable couple of months in Japan, firstly the heatwave and now Typhoon Jebi wreaks havoc on the West Coast with floods washing away buildings, cars etc... Seven reported dead and major airports are closed. E/ mrkts (S.Africa in recession) and trade concerns are never far away.
HK is down 500 (mid session) a near 2% fall as techs are hammered led by internet giant Tencent off 2.5%.
SH cont its downslide and is off 25 the days low just before mid day and S.K. tracking sideways is off 4.
The nos: Oil $77.95. Gold $1193.
£$ 1.286. £€ 1.109. Coin $ 7365.
Vix 13.16. FF -18 & DF + 8.
Morning all.