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Index Last Change Stock Futures Little Changed After S&P Notches Another

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Index Last Change Stock Futures Little Changed After S&P Notches Another DAILY MARKET REPORT 26.08.2020 Index Last Change DJIA 28,248.44 60.02 S&P 500 3,443.62 12.34 NASDAQ 11466.47 86.75 NIKKEI 23,301.54 4.77 HANG SENG 25,488.78 2.56 DJ EURSTOXX 50 3,329.71 2.03 FTSE 100 6,037.01 67.72 CAC 40 5,008.27 0.38 DAXX 13,061.62 4.92 US Stock futures little changed after S&P notches another record U.S. stock futures were little changed in early morning trading on Wednesday after the S&P 500 closed at a new record high. Dow futures dipped 43 points. The S&P 500 futures contract sat just below the flatline while Nasdaq 100 futures traded in positive territory. Software company Salesforce reported blowout earnings after the bell on Tuesday. The soon-to-be Dow member rose more than 13% in extended trading after beating on the top and bottom lines of its second quarter results. Salesforce will replace Exxon Mobil, Amgen will replace Pfizer and Honeywell International will replace Raytheon Technologies in the Dow average, S&P Dow Jones Indices said Monday. The changes are driven by Apple’s coming stock split, which will reduce the technology weighting in the price-weighted average. HP Enterprise, homebuilder Toll Brothers and retailer Urban Outfitters jumped after the bell following their better-than-expected earnings. On Tuesday, the Dow Jones Industrial Average lost 60 points as Apple, the gauge’s biggest influence, snapped a five-day winning streak. The tech giant closed the session down about 0.8%. The S&P 500 gain 0.36%, to notch its 17th record close of 2020. The Nasdaq Composite also closed at a record after popping 0.76%. Shares of Facebook rose more than 3%. China and the U.S. resumed trade talks on Tuesday. In a statement, the Office of the U.S. Trade Representative said that both sides made “progress and are committed to taking the steps necessary to ensure the success of the” phase one trade deal. Markets were “bolstered by converts finally joining the party, by recent persistent declines in Covid cases, the halo of ongoing new treatments, and renewed progress on trade negotiations with China,” Jim Paulsen, chief investment strategist at the Leuthold Group, told CNBC. Earnings season continues on Wednesday with Dick’s Sporting Goods, Express and Royal Bank of Canada reporting before the opening bell. Box, NetApp, Splunk and Williams- Sonoma will report after the bell on Wednesday. Later this week, the Federal Reserve will hold its annual symposium on monetary policy. Wall Street will look for clues on further stimulus and where the economy is headed out of the event. Investors will be looking specifically for Powell’s comments on inflation and its impact on the dollar. EUROPE & UK European markets lose momentum heading for flat open London’s FTSE is seen opening 5 points higher at 6,042, Germany’s DAX up 9 points at 13,086, France’s CAC 40 up 4 points at 5,016 and Italy’s FTSE MIB up 43 points at 20,039, according to IG. European stocks are expected to open in mostly flat territory Wednesday, losing some of the positive momentum seen earlier this week. London’s FTSE is seen opening 5 points higher at 6,042, Germany’s DAX up 9 points at 13,086, France’s CAC 40 up 4 points at 5,016 and Italy’s FTSE MIB up 43 points at 20,039, according to IG. European stocks look set to follow their Asian counterparts in more lackluster trade Wednesday; stocks in Asia Pacific were lower in afternoon trade despite major indexes on Wall Street notching up new records yet again Tuesday. U.S. markets were bolstered by China and the U.S. resuming trade talks on Tuesday. In a statement, the Office of the U.S. Trade Representative said that both sides made “progress and are committed to taking the steps necessary to ensure the success of the” phase one trade deal. The moves stateside came on the back of mixed economic data, however. The U.S. Census on Tuesday reported a 36% surge in sales of newly built homes in July. The Conference Board Consumer Confidence Index, however, fell for a second straight month to 84.8 in August from July’s 91.7. Investors are looking ahead to the Federal Reserve’s annual symposium on monetary policy Thursday, to be held in a virtual format this year. Wall Street will look for clues on further stimulus and where the economy is headed out of the event. Investors will be looking specifically for Fed Chairman Jerome Powell’s comments on inflation and its impact on the dollar. There are no major European earnings or data releases Wednesday. ASIA Asia Pacific markets lower; Alibaba’s Hong Kong shares jump after affiliate Ant Group files for listing Overnight on Wall Street, the S&P 500 and Nasdaq Composite rose to all-time highs. In corporate developments, Chinese tech giant Alibaba’s affiliate Ant Group on Tuesday filed for a concurrent listing on the Shanghai Stock Exchange’s STAR market — a Nasdaq-style tech board — and the Hong Kong stock exchange. Hong Kong-listed shares of Alibaba jumped 3.57% by the afternoon. Stocks in Asia Pacific were lower in Wednesday afternoon trade as major indexes on Wall Street notched new records yet again overnight. Mainland Chinese stocks fell by the afternoon, with the Shanghai composite down about 1.1% while the Shenzhen component declined 1.515%. Hong Kong’s Hang Seng index dipped 0.21%. In Japan, the Nikkei 225 was 0.18% lower while the Topix index shed 0.21%. South Korea’s Kospi declined 0.24%. Meanwhile, Australia’s S&P/ASX 200 fell 0.87%. Over in New Zealand, the S&P/NZX 50 hovered above the flatline. Trading on the country’s stock exchange was halted earlier on Wednesday following a potential second cyber attack, Reuters reported citing the NZX. Overall, the MSCI Asia ex-Japan index was 0.22% lower. In corporate developments, Chinese tech giant Alibaba’s affiliate Ant Group on Tuesday filed for a concurrent listing on the Shanghai Stock Exchange’s STAR market — a Nasdaq-style tech board — and the Hong Kong stock exchange. Hong Kong-listed shares of Alibaba jumped 3.57% by the afternoon. Ant Group, which runs the highly popular Alipay mobile payments app in China, has not disclosed details about the pricing of its shares. Overnight on Wall Street, the S&P 500 and Nasdaq Composite rose to all-time highs. The broader market index added 0.4% to close at 3,443.62 while the tech-heavy Nasdaq gained 0.8% to end its trading day at 11,466.47. The Dow Jones Industrial Average lagged as it declined 60.02 points, or 0.2%, to close at 28,248.44 — snapping a three-day winning streak. The moves stateside came on the back of mixed economic data. U.S. Census on Tuesday reported a 36% surge in sales of newly built homes in July. The Conference Board Consumer Confidence Index, however, fell for a second straight month to 84.8 in August from July’s 91.7. The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 93.103 from levels above 93.2 seen earlier in the trading week. The Japanese yen traded at 106.43 per dollar after seeing an earlier high of 106.32 against the greenback. The Australian dollar changed hands at $0.7192, in a trading week that has seen in mostly trading between $0.716 and $0.72. Oil prices were mixed in the afternoon of Asia trading hours, with international benchmark Brent crude futures up 0.33% to $46.01 per barrel. U.S. crude futures were flat at $43.35 per barrel. Economic Release Europe and UK Event Survey Prior EUR : GERMAN GDP -10.1% -2.2% EUR : GERMAN IFO 92.1 90.5 US and Canada Event Survey Prior US: REDBOOK - 2.8% US : NEW HOME SALES 786K 776K FOMC DALY SPEAKS - - DOMESTIC MARKET Stocks Last Close Change Volume SOLIDERE A 14.02 14.01 0.01 35547 SOLIDERE B 14 14 0.00 3309 HOLCIM 12.1 12.1 0.00 0 BLOM GDR 1.3 1.3 0.00 4500 BLOM BANK 2.81 2.81 0.00 0 AUDI GDR 0.36 0.35 0.01 64596 AUDI 0.98 1 2.00 33822 BYBLOS GDR 70 #N/A N/A #N/A N/A 0 BYBLOS BANK 0.39 0.39 0.00 1840 FOREIGN EXCHANGE Currencies BID ASK EUR/USD 1.1805 1.1820 GBP/USD 1.313 1.3150 USD/JPY 106.40 106.60 USD/CAD 1.3180 1.3205 USD/LBP 1510 1520 USD/CHF 0.91 0.9125 Commodities Spot Closing GOLD 1918.45 1928.18 SILVER 26.2188 26.5342 CRUDE OIL 43.34 43.35 Market Summary Commodities Brent rises on U.S. output cuts ahead of biggest storm threat in 15 years Brent crude oil futures added 8 cents, or 0.2%, to $45.94 a barrel by 0134 GMT. U.S. West Texas Intermediate crude was down 2 cents, or 0.1%, at $43.33 a barrel. The price of Brent crude oil edged higher on Wednesday, lifted by U.S. producers shutting most of their offshore output in the Gulf of Mexico ahead of Hurricane Laura and optimism over China-U.S.
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