US Market Outlook 15 August 2018

Posted by Tim Sholl on 15-Aug-2018 23:27:39

Volatility around Turkey and European banks continued today , with weakness in Chinese stocks and a new 10 year high in Australian stocks. The Turkish Lira improved today after the central bank increased the cost of shorting the TRY and Turkey placed some tariffs on a list of US products. US stocks rebounded yesterday but it looks likely that markets will head lower today. In the FX markets the US Dollar remains strong with continued weakness in the AUD , CAD , EUR , GBP and NZD as well as many EM currencies. 

Latest prices show the Dow opening at 25139 down 0.63% , the S&P500 at 2822 down 0.61% , and the Nasdaq 100 at 7384 down 0.85%.  The EUR is at 1.1312 down 0.27% , the GBP is at 1.2673 down 0.37% , and the JPY is at 110.90 stronger by 0.22%. The DXY is last at 96.78 up 0.18% while Gold is being hit hard now at 1184 down 0.81% and making new lows. The WTI crude oil is at 66.50 down 0.81% and beginning to struggle with concern that Chinese growth is weakening.

US bond yields remain in a 2.85-2.95% range.

US Retail sales numbers came out with strong numbers at 0.5%m/m and 6.4% y/y.


Topics: Trading, Market News, US Market Outlook