Daily Market Brief [03/08/2018] - By Alphaex Capital

Alphaex Capital Daily Market Brief


European Equity Markets

Equities across Europe closed lower on Thursday with the Stoxx 600 lower by 0.84 with the continued scope of trade concerns. Siemens fell 4.69% after reporting that they missed their quarterly revenue. Kaz Minerals dropped 28.3% after it had announced the agreement to buy the Baimskaya copper project in the Chukotka region of Russia for $900 million.

U.S. Equity Markets

S&P 500 and Nasdaq traded higher on Thursday led by Apple shares after it became the first publicly traded U.S. company worth a trillion dollars. Apple Inc traded a further 3.2% on the back of its earnings. The S&P 500 closed higher by 0.46%, to 2,826.25 and the Nasdaq Composite gained 1.14%, to 7,794.93.

Asian Equity Markets

Nikkei 225 closed higher by 0.25% with Suzuki Motor increased by 8.21% after reporting positive earnings.

Forex Markets

The pound fell on Thursday despite the Bank of England raising interest rates after Governor Mark Carney voiced his concerns about the risks of a cliff-edge Brexit. The move raising 25 basis points to 0.75 percent was expected.

Traders are still in focus with concerns over continued trade tensions between the United States and China. The EUR/USD traded at $1.1583.

Commodities Markets

Brent crude futures were lower by 17 cents at $73.28 a barrel. U.S. West Texas Intermediate (WTI) crude declined by 2 cents at $68.94.

Bond Markets

U.S. Treasury yields eased on Thursday as traders sought the safety of government debt with trade conflicts between the United States and China. U.S. 10-year yields declined to 2.985%. U.S. 30-year yields traded lower at 3.12%. U.S. 2-year yields dropped to 2.665 percent, from Wednesday’s 2.682%.

Risk Warning

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Trading spot foreign exchange and futures on margin carries a high level of risk and may not be suitable for all investors. You may lose all your capital. Loses can exceed deposits. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in spot foreign exchange or futures you should carefully consider your investment objectives, level of experience, and risk appetite. If you are in any doubt about investment or the mechanics of such products, you should seek independent financial advice.