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Alphaex Capital Daily Market Brief


US Equity Markets indices traded higher on Friday, as an increase in Nike Inc shares helped the quarter close out on an upswing while concerns over U.S. international trade relations ebbed. The S&P 500 gained 0.08%, to 2,718.37 and the Nasdaq Composite rose 0.09%, to 7,510.30. On Friday, shares of Nike jumped 13%to hit an all-time high of $81 after the world’s largest footwear maker reported a return to growth in North America in the last quarter and gave an upbeat forecast for the year. Nike shares ended the day up 11.1% to $79.68.

Asian Equity Markets stocks were mixed on Monday with trade tensions between the U.S. and its trading partners still a key concern for investors. The Nikkei 225 slipped 0.09% as the consumer goods and utility sectors logged declines. Retailer stocks were down 1.8%, with Fast Retailing lower by 0.77%.

Forex Markets the EUR/USD traded lower in early Monday after Germany’s Chancellor Angela Merkel was dealt a new blow when her interior minister offered to quit in an escalating row over migration policy. The EUR/USD  last stood traded at $1.1657, down 0.28% from late U.S. trade on Friday. Against the safe-haven Swiss franc, it fell 0.1% to 1.1560 francs. Mexican peso gained 1.1% on Monday as exit polls showed Mexicans voted overwhelmingly for anti-establishment outsider Andres Manuel Lopez Obrador in Sunday’s presidential election

Commodities Markets oil prices decreased by more than 1% on Monday as supplies from Saudi Arabia rose and as signs of an economic slowdown in Asia dented the outlook for demand. Brent crude oil futures were at $78.16 per barrel, down $1.07, or 1.35%, from their last close. U.S. West Texas Intermediate crude futures were lower by 94 cents, or 1.3%, at $73.21 a barrel.

Bond Markets longer-dated Treasury yields fell on Friday and the yield curve hit its flattest level in more than 10 years after U.S. consumer spending growth in May undershot analysts’ expectations. Benchmark 10-year notes gained 4/32 in price to yield 2.833 percent, holding just above a low of 2.822 percent reached on Thursday, which was the lowest since May 31. The yield curve between two-year and 10-year notes flattened to 30 basis points, the flattest level since 2007.

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