US Market Outlook 10 Jul 2018

Posted by Tim Sholl on 10-Jul-2018 23:20:59

US investors continue to maintain optimism that corporate earnings will improve enough to maintain positive momentum and offset any negatives from trade tensions. Over the past few sessions we have seen stronger stocks , higher bond yields and a weaker US dollar which has helped the price of many commodities and eased some of the selling seen in Emerging markets.

President Trump is heading to Europe and the UK to a NATO summit and no doubt some more trade talk which potentially may involve the  auto sector which sells  an enormous amount into the US market. so markets are certainly wary that trade tensions could blow up very quickly this time against Europe and not China.

Latest prices show the EUR at 1.1717 down 0.28% , the GBP which has been volatile on Brexit uncertainty is at 1.3275 up 0.12% , and the JPY at 111.20 down 0.32% . The US Dollar index is last at 94.05 up from 93.75 this morning. Gold is lower at 1251 down 0.52%.  In stock indices the Dow looks to open at 24853 up 0.30% , the S&P500 is at 2788 up 0.16% and the Nasdaq 100 at 7289 up 0.17%.

No major US data due out in todays session.

Topics: Trading, Market News, US Market Outlook