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US Market Update 23 Apr 2018

Posted by Tim Sholl on 23-Apr-2018 23:40:08

US markets finished last week on a negative note with stock indices weak and bond yields rising. Asian markets were lower today and Europe was mixed. PMI data out earlier today was better than expected in UK and Europe may have helped sentiment. Weakness in Apple stock as analysts were concerned with growth in iPhone sales. Other concerns is the continued increase in bond yields across Europe and US as markets begin to believe in continued economic growth and the rise in inflation expectations. US Dollar has climbed for 5 sessions now on the back of this rise in yields.

Current prices show the Dow opening at 24506 up 47 , the S&P500 looks to open at 2677 up 7 , and the Nasdaq looks to open at 6696 up 30.  The EUR is at 1.2239 down 48 , the GBP is now at 1.3967 down 35 , and the JPY is at 108.24 up 60. Gold is down to 1325.40 from strong resistance at 1365.  Oil prices are at 73.40 for Brent and 67.47 for WTI.

Home sales for March is out shortly with expectations of a gain of 0.2% and total yearly sales of 5.55m

Corporate earnings are out for GOOG , ABX , HAL , HAS and KMB after market.

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Daily Chart - Nasdaq 100 Index - (USNAS100.I) - Showing some weakness in tech sector.

Topics: Trading, Market News, US Market Outlook