Home > July 2017 > July 3, 2017 Short US Session, Happy 4th of July! Start of the second half of the year!

July 3, 2017 Short US Session, Happy 4th of July! Start of the second half of the year!

Tonight we are getting our Markit PMI data. China Markit PMI (vs the Govt Official) came in stronger then last month at 50.4. Yet, the actual report didn’t give much optimism. Japan also came in stronger for PMI, but Abe’s party had a bad election defeat that could put it’s power in question in next years elections. The Yen is becoming stronger on the news. China is also starting today to peddle their Investment Opportunities to ROW. But NO stimulus coming out of China even though there was rumors

July 2017

  • Trading_Nymph

    Comment from the Markit China PMI…Comment
    Commenting on the China General Manufacturing PMI™ data,
    Dr. Zhengsheng Zhong, Director of Macroeconomic Analysis at
    CEBM Group said:
    “The Caixin China General Manufacturing PMI stood at 50.4 in
    June, up from 49.6 in the previous month, as manufacturing activity
    expanded. Sub-indices for output and new orders rose marginally
    from the previous month, while input and output prices showed
    renewed increases in June, in which input prices rose at a faster
    pace. However, sub-indices for stocks of purchases and stocks of
    finished goods were both in contraction territory, signaling that
    businesses are more cautious in restocking. The manufacturing
    sector recovered slightly in June, but based on the
    inventory trends and confidence around future output, the June
    reading was more like a temporary rebound, with an economic
    downtrend likely to be confirmed later.”

  • Trading_Nymph
  • panther341

    Macau numbers were weak this morning (overnight really). WYNN, LVS, MGM and many others getting hit of course.

    Nasdaq 100 – I keep looking for weakness and it wasn’t alot early – WYNN and MU. But then everything else was just flat. No all is looking worse – including the semiconductors.

    Gold and bonds not being bought however. Oil, oil services and banks getting bought. Gold and miners being sold.

  • panther341

    Yen and everything losing against the dollar today. At noon Eastern, Yen down 0.66%, which is more than the Euro, the pound and even the Mexican dollar. That would also be the problem with gold.

    Oil up even with production news this morning. Not sure if that a a minor short squeeze or what.

  • panther341

    RUT closed at a record high.

    DJIA touched record intraday high but not a closing high.

    Nasdaq Composite closed below its 50 day moving average. Nasdaq 100 closed below its 50 day moving average. Ugly bars.

    Divergence in the force.

  • panther341

    Dow theory: transports confirm industrials. And DJT hit new all time high today as well as new all time closing high. but what about the Nasdaq????

  • panther341

    Oil: now RUssia has said no more production cuts. You would think this would affect the price of oil. LOL https://www.bloomberg.com/news/articles/2017-07-05/oil-slows-longest-win-streak-in-2016-as-russia-opposes-more-cuts

  • panther341

    earnings: YUMC (China) reports Wed July 5 after the market close. That’s pretty much it for earnings all week.

    Next week we have big banks plus TSM (semiconductor), PEP, and FAST.

  • panther341

    so now a day after the Russia news, oil tumbles and the press lays it to Russia news. LOL Or up for 7 or 8 straight days in what was probly a short squeeze.

  • panther341

    FOMC minutes also this afternoon.

  • panther341

    YUMC earnings: sell off at first. still down but not 10%.

  • panther341

    ADP jobs number disappointing. Hi TN.

    Different peeps out upping targets on all the banks today ahead of earnings next week.

  • panther341

    Morgan Stanley says OPEC can’t help oil by itself, lowers 2017 price target to $48. LOL http://www.marketwatch.com/story/opec-cant-save-oil-market-alonethe-us-has-to-step-in-says-morgan-stanley-2017-07-06

  • panther341

    Blue Apron now down 20% from IPO in just 1 week – including the holiday! APRN

  • panther341

    24 hours later – stock is down 15%. Oooooooooooops.

  • panther341

    So we are having a TN kind of day. Bonds and stocks both selling off. gold traded in a $3 range all day. So they aren’t buying gold or bonds …. bought the Euro.

  • Trading_Nymph

    ouch

  • Trading_Nymph

    lol, that oil glut is finally getting legs.

  • Trading_Nymph

    Hi Panther….recovering from one heck of a sunburn. I fell asleep on the beach on the 4th after being in the water. Not a good idea at all.

  • Trading_Nymph

    all with a slowing china…doesn’t make sense at all.

  • panther341

    ouch. bad idea indeed!