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1.10 - today's performance of the markets is much to be desired

5.04.2019

 

Less than stellar – that is the best way to describe the performance of the markets. Tension in Sino-American relations are pressing on our nerves and we start to doubt that we are going to see any kind of agreement between the two, which means that for the rest of the year we are going to see USD get more and more support as its status of safe haven only buffs it from the outside.

The effect of this USD behavior is already felt by one of greenback’s main counterpart – euro. European currency felt the impact from the very poor German inflation data yesterday and sank to the lowest position in 28 months – a number supported by the growing greenback.

Of course there was no way that American economy didn’t suffer from the bad outlook on the future of trade war. Some of the American shares from tech and social media sector have felt the impact of doubt surrounding the situation. Of course major players have both losers and winners and lucky for us gains are more visible, but we still have to deal with the fall of some of the stocks.

Commodities are mixed. Precious metals are of course suppressed with USD climbing higher, but WTI oil is gaining points today, after having dropped some of the per-barrel price yesterday. Brent can’t boast with the same movements and Russian oil plummets lower and lower.

Performance of the world market get more and more uneven as we go, but we need to make our peace with it. There is no way that we are going to give up trading just because of the volatility.

Here are the main changes for today:

Topix grew 1 percent.

Kospi added 0.45 percent.

Shanghai Composite lost 0.9 percent.

Hang Seng from Hong Kong grew 0.5 percent.

S&P 500 futures surged 0.4 percent.

Dollar added 0.05 percent against the basket of six major currencies.

Euro dropped 0.1 percent after having dropped to the lowest level in 28 months - $1.0885.

Yen lost 0.3 percent – 108.38 per dollar.

Pound was more or less flat - $1.2295.

Apple surged 2.35 percent - $223.97.

Facebook added 0.55 percent – $178.08.

Amazon increased 0.6 percent - $1735.91 per share.

Tesla decreased 0.5 percent - $240.87.

Google shares declined 0.4 percent - $1221.14.

WTI grew 0.6 percent - $54.39 per barrel.

Brent lost 1.8 percent - $60.78 per barrel.

Gold lost 0.5 percent - $1465.9 per ounce.

Silver added 0.1 percent - $17.02 per ounce.

Platinum recovered 0.1 percent – $883.96.