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Today's Fundamental Outlook : 16 Sep 2015

Discussion in 'Fundamental Analysis' started by Lily, Sep 16, 2015.

  1. Lily

    Lily Forum Member

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    FOREIGN EXCHANGE
    The US dollar was higher against its major counterparts on Tuesday. On the economic data front, US retail sales rose 0.2% in August compared to a 0.7% increase in July. (0.3% estimate). Empire Manufacturing index decreased -14.67 in September compared to -14.92 in August (-0.50 estimate). Industrial production fell -0.4% in August compared to an increase of 0.9% in July (-0.2% estimate).

    The Euro was under pressure against its major counterparts. In Europe, the seasonally adjusted trade balance rose to 22.4 billion euros from 21.9 billion euros in June. The latest surplus was the biggest in more than a year. In Germany, the ZEW economic expectations index for September showed a drop to 12.1 from 25.0 in August. In UK, the consumer price index (CPI) rose by 0.2% month-on-month in August but was flat versus a year ago.

    The Australian dollar was mixed against all its major pairs.

    COMMODITIES
    After the close of Wall Street, WTI Crude Future (OCT 15) was up $1 to $45. The contract was above its 20D MA (@ $43.67) and below its 50D MA (@ $46.57).

    Gold was down $3.9 to $1105.2. The precious metal was below its 20D MA (@ $1128) and below its 50D MA (@ $1120).

    Copper Future (DEC 15) on Comex was up 2.2c to 242.7c/lb. The contract was above its 20D MA (@ 234.53c) and above its 50D MA (@ 239.41c). In Europe, the London Metal Exchange reported its copper inventories decreased 3350 tons to 334175 tons.
    SINGAPORE
    The Straits Times index fell 1.03% or 29.53pts to 2841.94 (day range: 2857.14 - 2837.59) on Tuesday. The index is below its 20d MA (@ 2915) and below its 50d MA (@ 3124). 20% of the index constituents are above their 20D MA (vs 30% the previous session) and 7% of the shares are above their 50D MA (vs 3%).

    Singapore's retail sales rose 5.2% YoY in July vs +7.0% in June, according to the Singapore Department of Statistics.

    Genting Singapore (GENS) was upgraded to "outperform" from "underperform" at Macquarie.

    Industrial Goods & Services: SIA Engineering (SIE: +2.24% to S$3.65) and SATS (SATS: +1.87% to S$3.82) closed at a 3-month relative high against the Straits Times Index.

    Travel & Leisure: City Developments (CIT: -2.44% to S$7.98) reached a new 3-month relative low against the Straits Times Index.

    Stock/Benchmark ratio(s) 50D MA cross under: Jardine Strategic (JS: -3.1% to $26.54).

    HONG KONG
    The HSI index fell 0.49% or 106.67pts to 21455.23 (day range: 21634.48 - 21411.17) on Tuesday. The index is below its 20d MA (@ 21684) and below its 50d MA (@ 23477). 42% of the index constituents are above their 20D MA (vs 37% the previous session) and 7% of the shares are above their 50D MA (vs 9%). In China, the CSI300 index dropped 3.93% or 128.9pts to 3152.23 (day range: 3240.08 - 3131.98) on Tuesday. The index is below its 20d MA (@ 3412) and below its 50d MA (@ 3762). 8% of the index constituents are above their 20D MA (vs 12% the previous session) and 2% of the shares are above their 50D MA (vs 4%). Trading volume on the index was low, 39% below the 3 months average.

    China Shenhua Energy (1088) reported August commercial coal production down 9.2% YoY to 24.7M tonnes and coal sales down 33.9 % YoY to 35.3M tonnes.

    Construction & Materials: Cmec (1829: -2.09% to HK$6.55) reached a new 3-month relative low against the Hang Seng.

    Oil & Gas: China Longyuan Power Group Corp (916: +2.4% to HK$8.53) closed at a 3-month relative high against the Hang Seng.

    Personal & Household Goods: Belle International (1880: -5.2% to HK$6.56) reached a new 3-month relative low against the Hang Seng.

    Real Estate: Soho China (410: -2.61% to HK$2.99) and K. Wah Int'L (173: -4.31% to HK$3.11) reached a new 3-month relative low against the Hang Seng.

    Stock/Benchmark ratio(s) 50D MA cross over: Tencent Holdings (700: +2.5% to HK$131.2)

    Stock/Benchmark ratio(s) 50D MA cross under: Sun Hung Kai Properties (16: -3.28% to HK$100.4), China Gas (384: -3.71% to HK$10.9), ENN Energy (2688: -7.47% to HK$38.4), Longfor Properties Co (960: -2.36% to HK$9.51), Haitian Int'L (1882: -3.33% to HK$13.36), Sinopec Kantons (934: -1.92% to HK$4.08), Lijun Int'L (2005: -5.63% to HK$2.01).

    UNITED STATES
    Market hours
    Alcoa (AA +2.67% to $9.63) announced Ford Motor (F +3.85% to $14.31) has selected the Co's Micromill material to be used on its 2016 Ford F-150 truck. Besides, the Co will commercialize its MicromillTM technology, working with the Danieli Group.

    Twitter (TWTR +1% to $27.17) CEO selection process may stretch to November, reported Re/Code.

    Verizon (VZ +1.58% to $46.37) and AT&T (T +0.95% to $32.86) are getting " experience stores" inside appx. 250 Best Buy (BBY -0.03% to $38.47) locations. A store within a store.

    Boeing (BA) officially announced that final assembly of the 737 Max had begun. The first test flight is scheduled for 2016.

    Kellogg (K +1.09% to $67.46) agreed to buy a 50% stake in Nigerian food distributor Multipro for $450M and is creating a joint venture with Tolaram Africa to help expand on the continent.

    After hours
    No major news

    Expect today
    Oracle (ORCL): 1Q EPS seen at $0.52 ($0.49 a year ago) on sales of appx. $8.5B ($8.6B), after mkt.

    Fedex (FDX): 1Q EPS seen at $2.46 ($2.26 a year ago) on sales of appx. $12.3B ($11.68B), before mkt.

    Dividend
    Advance Auto Parts (AAP): $0.06, Avago Technologies (AVGO): $0.42, Crown Castle (CCI): $0.82, Prologis (PLD): $0.4, Royal Caribbean Cruises (RCL): $0.375

    INDICES
    Last Daily Change %YTD
    Dow Jones 16,599.85 1.40 -6.86
    Nasdaq 100 4,360.28 1.20 2.93
    S&P 500 1,978.09 1.28 -3.92
    Euro Stoxx 50 3,207.60 1.01 1.94
    Dax 10,188.13 0.56 3.90
    Cac 40 4,569.37 1.13 6.94
    FTSE 100 6,137.60 0.87 -6.53
    SMI 8,790.44 1.20 -2.15
    Nikkei 225 18,026.48 0.34 3.30
    Hang Seng 21,455.23 -0.49 -9.11
    Shanghai-B 286.69 -1.10 -1.40
    Shenzhen-B 1,016.14 -1.06 -1.23
    Straits Times 2,841.94 -1.03 -15.55
    S&P-ASX 200 5,018.44 -1.53 -7.26
    TAIEX 8,259.99 -0.57 -11.25
    KOSPI index 1,937.56 0.32 1.15
    PSEi index 7,089.01 0.28 -1.96
    SET 50 889.97 -0.48 -11.09
    BSE SENSEX 25,705.93 -0.58 -6.52
    Vietnam Stock Idx 563.27 0.20 3.23

    TODAY'S ECONOMIC EVENT
    JN 13:00: Bank of Japan's Monthly Economic Report for September
    US 19:00: 09/11 MBA Mortgage Applications
    US 20:30: Aug CPI MoM, exp.: -0.1%
    US 20:30: Aug CPI Ex Food and Energy MoM, exp.: 0.1%
    US 20:30: Aug CPI Idx NSA, exp.: 238.418
    US 04:00: Jul Total Net TIC Flows
     

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