US Market Outlook 27 Jul 2018

Posted by Tim Sholl on 27-Jul-2018 23:14:52

US investors are looking for a slightly positive open to stock indices this session after the Q2 GDP number was released at 4.1% annualised. The 4 quarter average comes out at 3.1%. This is a strong number which will help maintain the positive momentum in the US economy. Opening prices show the Dow expected to be at 25534 up 9 , the S&P500 at 2842 up 4 , and the Nasdaq 100 at 7433 up 32.

The US Dollar has improved over the week as the US data was solid and the Fed is still expected to continue rate increases and the ECB maintained previous settings for interest rates and stimulus.  The EUR is at 1.1638 flat , the GBP is at 1.3105 flat and the JPY is stronger at 111.01 down 21. The US Dollar index is at 94.60 flat on the day . Gold is at 1222.50 flat and WTI crude oil is at 69.48 and up on the week.

Bond yields have moved higher over the week as the fear of a major trade war recedes and latest prices show US10 at 2.96 flat , the UK10 at 1.28 up 1 , and the DE10 at 0.41up 7.

Corporate Q2 earnings continue to be released with high profile companies Facebook being hit by 20% on reduced outlook and even Amazon which had record profits being knocked down by 3% overnight.

Trump talking about economy in next hour.

Topics: Trading, Market News, US Market Outlook