US Market Outlook 13 August 2018

Posted by Tim Sholl on 13-Aug-2018 23:16:56

Increased volatility and negative sentiment has been pushing markets lower since last week as the Turkish currency and economy slipped further into negative territory after investors lost faith in the way that Turkey is being run by Erdogan.

After weakness on Friday and some early weakness today across Asia and Europe we are finally seeing some strength moving into US futures markets which show indices would open slightly higher. We are also seeing some of the USD strength starting to fade and US bond yields are starting too move higher.

Latest prices show that the Dow will open at 25322 up 7 , the S&P500 to open at 2834 up 1 , and the Nasdaq 100 to open at 7423 up 16. The EUR is at 1.1420 now up 10 , the GBP is at 1.2770 flat , and the JPY is at 110.84 stronger by 10. The DXY is now down on the day by 9 points at 96.13 after reaching highs of 96.39 today. Gold was hit down to 1195 down 16 , but has recovered back to 1201 at present. WTI Crude oil last at 67.35 down 28.

No US data out tonight.

Topics: Trading, Market News, US Market Outlook