Wed 8 Nov 2017


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In Portfolioticker today

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  • Today at the stock market Opinion
  • The portfolio today Opinion
  • News
  • flag_japan Japan Update
  • flag_china China Update
  • Today at the stock market

    bull/bearWall Street closed at a record high on Wednesday as videogame makers rallied and Apple’s market value climbed above $900 billion. The S&P 500 has risen about 21% since the election of President Donald Trump a year ago, partly on the back of his promises to cut taxes and other business-friendly measures.

    The three major indexes closed at record highs:

    • The S&P 500 index gained 0.14% to 2,594.38. Six of the 11 major S&P sectors rose, led by a 1.08% increase in consumer staples.
    • The Dow Jones Industrial Average edged up 0.03% to end at 23,563.36.
    • The Nasdaq Composite added 0.32% to 6,789.12.
    • Advancing issues outnumbered declining ones on the NYSE by a 1.03-to-1 ratio; on Nasdaq, a 1.05-to-1 ratio favored decliners.
    • About 7.0 billion shares changed hands on U.S. exchanges, above the 6.5 billion daily average over the last 20 sessions.

    Take-Two Interactive Software jumped 10.58% after the videogame maker offered a stronger-than-expected revenue forecast for the holiday quarter. That sparked a rally among its competitors, with Activision Blizzard surging 5.89% and Electronic Arts adding 2.19%.

    Buoyed by optimism about the recently released iPhone X, Apple added 0.82% and ended with a market capitalization of $905 billion, its highest ever.

    The tech sector was boosted 0.5% by a 2.17% rise in Qualcomm after the smartphone chipmaker launched a server processor aimed at challenging Intel. Intel declined 0.17%.

    Snapchat owner Snap fell 14.62% a day after reporting much-slower-than expected advertising revenue and user growth. Snap said China’s Tencent bought a 12% stake in the company.

    More broadly, investors remained nervous about the potential outcome of the Republican plan unveiled last week that would cut corporate taxes while eliminating a range of popular tax breaks. The bill is expected to face strong opposition from interest groups. Republicans have yet to score a major legislative win since Trump took office in Jan 2017, even though the party controls both chambers of Congress as well as the White House.

    “It’s a complicated, messy affair to get a tax bill passed,” said Tim Dreiling, Regional investment Director for U.S. Bank Private Wealth Management, with $150 billion in assets under management.

    “There is going to be some give and take before we get a final tax package to be voted on.”Bloomberg

    Market indices

    Market indices
    ^ Market indices today (mouseover for 12 month view) Chart: Google Finance

    Index Ticker Today Change 31 Dec 16 YTD
    S&P 500 SPX (INX) 2,594.38 +0.14% 2,238.83 +15.88%
    DJIA INDU 23,563.36 +0.02% 19,762.60 +19.23%
    NASDAQ IXIC 6,789.12 +0.31% 5,383.12 +26.11%

    Portfolio Indices

    USD and AUD denominated indices over the past 52 weeks (Chart: Bunting)
    ^ USD and AUD denominated indices over the past 52 weeks Chart: Bunting

    Index values

    Index Currency Today Change 31 Dec 16 YTD
    USD-denominated Index USD 3.137 +0.71% 2.105 +49.04%
    Valuation Rate USD/AUD 0.77260 +0.41% 0.72663 +6.32%
    AUD-denominated Index AUD 4.062 +0.30% 2.895 +40.30%

    Portfolio stock prices

    :-) Alphabet closed on a record high of $2,098.14, beating its 3 Nov 2017 record of $2,082.22.
    :-) Alphabet Class A shares closed on a record high of $1,058.29, beating their 3 Nov 2017 record of $1,049.99.
    :-) Alphabet Class C shares closed on a record high of $1,039.85, up 0.69% on yesterday’s record of $1,032.69.
    :-) Apple closed on a record high of $176.24, up 0.83% on yesterday’s record of $174.79.
    :-) Amazon closed on a record high of $1,132.88, up 0.86% on yesterday’s record of $1,123.17.
    :-) PayPal closed on a record high of $74.77, beating its 6 Nov 2017 record of $74.74.
    :-) Visa closed on a record high of $112.47, up 0.34% on yesterday’s record of $112.09.

    Stock Ticker Today Change 31 Dec 16 YTD
    Alphabet A GOOGL $1,058.29 +1.05% $792.45 +33.54%
    Alphabet C GOOG $1,039.85 +0.69% $771.82 +34.72%
    Apple AAPL $176.24 +0.82% $115.82 +52.16%
    Amazon AMZN $1,132.88 +0.86% $749.87 +51.07%
    Ebay EBAY $37.01 -1.07% $29.69 +24.65%
    Facebook FB $179.56 -0.39% $115.05 +56.07%
    PayPal PYPL $74.77 +0.49% $39.47 +89.43%
    Twitter TWTR $19.59 -0.36% $16.30 +20.18%
    Visa V $112.47 +0.33% $78.02 +44.15%
    VMware VMW $120.55 +0.09% $78.73 +53.11%

    FX: USD/AUD

    USD

    DXY movements
    ^ Bloomberg Dollar Spot Index (DXY) movements today (mouseover for 12 month view) Chart: Bloomberg

    The Bloomberg Dollar Spot Index (DXY) declined 0.1%.
    The EUR rose 0.1% to USD 1.1598.
    Britain’s GBP fell 0.4% to USD 1.3117.
    japan’s JPY rose 0.2% to 113.81 per USD.
    Bloomberg

    AUD

    AUD movements
    ^ AUD movements against the USD today (mouseover for 12 month view) Chart: xe.com

    Oil and Gas Futures

    Futures prices

    Prices are as at 15:49 ET

    • NYMEX West Texas Intermediate (WTI): $56.75/barrel -0.79% Chart
    • ICE (London) Brent North Sea Crude: $63.44/barrel -0.39% Chart
    • NYMEX Natural gas futures: $3.16/MMBTU +0.25% Chart

    flag_usa US: Quarterly Data Series on Business Employment Dynamics. Q1/2017

    Press Release Extract [ser_us_bls]

    From December 2016 to March 2017, gross job gains from opening and expanding private-sector establishments were 7.3 million, a decrease of 127,000 jobs over the quarter, the U.S. Bureau of Labor Statistics reported today. Over this period, gross job losses from closing and contracting private-sector establishments were 6.7 million, a decrease of 391,000 jobs from the previous quarter. The difference between the number of gross job gains and the number of gross job losses yielded a net employment gain of 654,000 jobs in the private-sector during the first quarter of 2017.

    The change in the number of jobs over time is the net result of increases and decreases in employment that occur at all private businesses in the economy. Business Employment Dynamics (BED) statistics track these changes in employment at private-sector establishments from the third month of one quarter to the third month of the next. The difference between the number of gross job gains and the number of gross job losses is the net change in employment. The BED data series include gross job gains and gross job losses by industry subsector, for the 50 states, the District of Columbia, Puerto Rico, and the Virgin Islands, as well as gross job gains and gross job losses at the firm level by employer size class.

    Gross Job Gains

    In the first quarter of 2017, gross job gains represented 6.0 percent of private-sector employment. Gross job gains are the sum of increases in employment due to expansions at existing establishments and the addition of new jobs at opening establishments. Gross job gains at expanding establishments totaled 6.0 million in the first quarter of 2017, a decrease of 21,000 compared to the previous quarter. Opening establishments accounted for 1.3 million of the jobs gained in the first quarter of 2017, a decrease of 106,000 jobs from the previous quarter.

    Gross Job Losses

    In the first quarter of 2017, gross job losses represented 5.4 percent of private-sector employment. Gross job losses are the result of contractions in employment at existing establishments and the loss of jobs at closing establishments. Contracting establishments lost 5.5 million jobs in the first quarter of 2017, a decrease of 239,000 jobs from the prior quarter. In the first quarter of 2017, closing establishments lost 1.2 million jobs, a decrease of 152,000 jobs from the previous quarter.

    Establishment Births and Deaths

    In the first quarter of 2017, the number of establishment births (a subset of the openings data) increased by 1,000, to a total of 240,000 establishments. These new establishments accounted for 800,000 jobs, a decrease of 68,000 jobs from the previous quarter. Data for establishment deaths (a subset of the closings data) are available through the second quarter of 2016, when 724,000 jobs were lost at 214,000 establishments.

    Industries

    Gross job gains exceeded gross job losses in 12 of 13 industries in the first quarter of 2017. The service- providing industries experienced a net job increase of 451,000 jobs in the first quarter of 2017. Within service-providing industries, leisure and hospitality had the largest over-the-quarter net job increase, with a gain of 172,000 jobs. The net job increase in leisure and hospitality was the result of 1.3 million gross job gains and 1.1 million gross job losses. The transportation and warehousing industry had the only net job decrease over the quarter. The goods-producing industries experienced a net job increase of 203,000 jobs in the first quarter of 2017. All of the goods-producing industries had positive net gains. Construction added 125,000 jobs, natural resources and mining added 55,000 jobs, and manufacturing added 23,000 jobs.

    Firm Size

    In the first quarter of 2017, firms with 1-49 employees had a net employment gain of 369,000. Firms with 50-249 employees had a net employment gain of 197,000. Firms with 250 or more employees had a net employment gain of 120,000. Of the 2.0 million net jobs created over the last four quarters, firms with 1-49 employees contributed 33.8 percent of net job growth, while firms with 50-249 employees contributed 22.5 percent, and firms with 250 or more employees contributed 43.7 percent.

    States

    Gross job gains exceeded gross job losses in 44 states and the District of Columbia in the first quarter of 2017. Over this period, 27 states exceeded the U.S. rate of gross job gains as a percent of employment, which was 6.0 percent. Alaska had the highest rate of gross job gains as a percent of employment at 9.4 percent. Hawaii, Tennessee, and Puerto Rico had the lowest rate of gross job gains as a percent of employment at 5.1 percent. Alaska also had the highest rate of gross job losses as a percent of employment at 9.8 percent, above the national rate of 5.4 percent. Minnesota and the District of Columbia had the lowest rate of gross job losses as a percent of employment at 4.7 percent.

    Bureau of Labor Statistics, “Quarterly Data Series on Business Employment Dynamics. Q1/2017“, 8 Nov 2017 (10:00) More

    flag_japan Japan update

    Currency: USD/JPY

    JPY movements
    ^ JPY movements against the USD over the past month (mouseover for inverse) Chart: xe.com

    Stockmarket: Nikkei 225

    N225 movements
    ^ Nikkei N225 movements over the past week Chart: Google Finance

    flag_china China update

    Currency: USD/CNY

    CNY movements
    ^ CNY movements against the USD over the past month (mouseover for inverse) Chart: xe.com

    Stockmarket: CSI300

    CSI300 movements
    ^ Shanghai CSI300 movements over the past week Chart: Google Finance