US Market Outlook 17 August 2018

Posted by Tim Sholl on 17-Aug-2018 23:26:35

US stock indices had a strong session yesterday on the back of good earnings numbers from Walmart and some hope that the US and China will begin trade talks in the near future. Concerns with Turkey and emerging markets has also faded as markets realised the contagion looks to be limited.

Stock indices look to open slightly lower today after sharp moves last session with Dow opening at 25517 down 42 , the S&P500 at 2835 down 5 , and finally the Nasdaq 100 at 7351 down 23.

The US Dollar is still looking strong but has weakened a little in the past two days with current EUR at 1.1406 up 30 , the GBP at 1.2724 up 14 , and the JPY at 110.38 stronger by 50. The DXY is at 96.17 down by 38 today. Gold is at 1178.75 up 4.90 but still down sharply on the week. WTI Crude oil futures are at 66.20 up 0.74 with 64.40 the key support level.

Bond yields have moved lower over the week on safe haven buying with US10 now at 2.85% - mid range .

Consumer sentiment numbers due out later tonight.



Topics: Trading, Market News, US Market Outlook