Archives of “May 4, 2019” day

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The major economic releases and events for the week May 6-10

  
  Analysis

The Reserve Bank of Australia / New Zealand may cut rates

The economic calendar may include an interest rate cut by the Reserve Bank of Australia and the Reserve Bank of New Zealand. Both will meet with the market giving a 40-50% chance of a 0.25% cut.

The major economic events and releases for next week include:
Monday:
  • China Caixin services PMI
  • FOMC Williams speaks
  • BOC Gov. Poloz speaks
Tuesday
  • Australia retail sales
  • Australia trade balance
  • New Zealand inflation expectations Q/Q
  • Reserve Bank of Australia rate decision
  • UK BOE Cuniffe speaks
  • EU economic forecasts
  • Canada Ivey PMI
  • FOMC Quarles speaks
  • BOE MPC Haldane speaks
Wednesday:
  • Reserve Bank of New Zealand rate decision
  • RBNZ press conference
  • China Trade Balance
  • FOMC Brainard speaks
Thursday
  • China CPI YoY
  • Canada trade balance
  • Fed’s Powell speaks
  • US PPI
  • treasury currency report
Friday
  • Reserve Bank of Australia monetary policy statement
  • UK GDP
  • UK manufacturing production
  • Canada employment statistics
  •  US CPI
  • FOMC Brainard speak

CFTC commitment of traders:Net long US dollar positions highest since December 2015

  
Analysis, Forex

Weekly Forex futures that speculative positions from the CFTC

  • Prior report
  • EUR short 105K vs 105K short last week.  Unchanged
  • GBP short 5K vs 2K short last week. Shorts increased by 3K
  • JPY short 100K vs 94K short last week. Shorts increased by 6K
  • CHF short 40k vs 38k short last week. Shorts increased by 2K
  • AUD short 59k vs 50k short last week. Shorts increased by 9K
  • NZD short 11K vs 5K short last week. Shorts increased by 6K
  • CAD short 47K vs 47K short last week.  Unchanged

Nasdaq closes at record highs

  
Analysis, US Market

S&P index just misses out at a record high close

The NASDAQ composite index is closing up 127 points or 1.58% at 8163.99. That closing level surpasses the previous record high close of 8161.85.
The S&P index also close sharply higher at 2945.62, up 0.96%. However its close was just shy of its record at 2945.83.
The final numbers are showing:
  • S&P index +28.11 points or 0.96% at 2945.63. The high reach 2947.85
  • NASDAQ index +127.22 points or 1.58% at 8163.99. THe high reached 8164.71.
  • Dow industrial average closed up 197.16 points or 0.75% at 26504.95. The high price reach 26534.96
For the week, the major indices are closing mixed:
  • S&P index, +0.20%
  • NASDAQ index, +0.22%
  • Dow industrial average, -0.14%
Some winners on the day included:
  • Tesla, +4.48%.  Elon Musk said that they may issue more debt/stock and he would potentially investing 25 million of his own money
  • Amazon, +3.24%.  Warren Buffett’s Berkshire Hathaway said they invested in the company for the 1st time
  • Caterpillar, +2.94%
  • Gilead, +2.80%
  • Alibaba, +2.73%
  • Qualcomm, +2.47%
  • Intel, +2.37%
  • Microsoft, +2.13%
  • Twitter, +2.13%
  • Adobe, +2.12%
  • Alphabet, +1.98%
Some losers in the big up day include:
  • Target, -0.67%
  • Rite Aid, -0.51%
  • Under Armour, -0.31%
  • Home Depot, -0.28%
  • AMD, -0.25%
  • Unitedhealth, -0.25%
  • CVS health, -0.16%
  • General Mills, -0.14%
  • Nvidia, -0.10%
  • Broadcom, -0.03%
  • Cisco, closed unchanged
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