Market Talk – December 3, 2020

As we prepare for this year’s World Economic Conference (December 4 and 5), please be advised the Market Talk blog posts will return on Monday, December 7. For those of you who have signed up for a virtual ticket, you still have time! Click here to register: https://armstrongeconomics.ticketspice.com/2020-world-economic-conference-us

ASIA:

 

The major Asian stock markets had a mixed day today:

  • NIKKEI 225 increased 8.39 points or 0.03% to 26,809.37
  • Shanghai decreased 7.24 points or -0.21% to 3,442.14
  • Hang Seng increased 195.92 points or 0.74% to 26,728.50
  • ASX 200 increased 25.10 points or 0.38% to 6,615.30
  • Kospi increased 20.32 points or 0.76% to 2,696.22
  • SENSEX increased 14.61 points or 0.03% to 44,632.65
  • Nifty50 increased 20.15 points or 0.15% to 13,133.90

 

The major Asian currency markets had a mixed day today:

  • AUDUSD increased 0.00246 or 0.33% to 0.74423
  • NZDUSD increased 0.00075 or 0.11% to 0.70780
  • USDJPY decreased 0.62 or -0.59% to 103.85
  • USDCNY decreased 0.00903 or -0.14% to 6.53300

 

Precious Metals:

  • Gold increased 6.24 USD/t oz. or 0.34% to 1,837.25
  • Silver decreased 0.112 USD/t. oz or -0.46% to 23.990

 

Some economic news from last night:

China:

Caixin Services PMI (Nov) increased from 56.8 to 57.8

Japan:

Foreign Bonds Buying decreased from 1,964.8B to 372.4B

Foreign Investments in Japanese Stocks increased from -1,193.3B to 457.7B

Services PMI (Nov) increased from 47.7 to 47.8

South Korea:

FX Reserves – USD (Nov) increased from 426.51B to 436.38B

Hong Kong:

Manufacturing PMI (Nov) increased from 49.8 to 50.1

Australia:

AIG Construction Index (Nov) increased from 52.7 to 55.3

Services PMI increased from 53.7 to 55.1

Exports (MoM) (Oct) increased from 4% to 5%

Home Loans (MoM) decreased from 6.0% to 0.8%

Imports (MoM) (Oct) increased from -6% to 1%

Invest Housing Finance (MoM) decreased from 5.2% to 0.3%

Trade Balance (Oct) increased from 5.630B to 7.456B

New Zealand:

Building Consents (MoM) (Oct) increased from 3.6% to 8.8%

ANZ Commodity Price Index (MoM) decreased from 2.0% to 0.9%

Some economic news from today:

India:

Nikkei Services PMI (Nov) decreased from 54.1 to 53.7

Singapore:

Manufacturing PMI (Nov) decreased from 50.5 to 50.4

 

EUROPE/EMEA:

The major Europe stock markets had a mixed day:

  • CAC 40 decreased 8.65 points or -0.16% to 5,574.36
  • FTSE 100 increased 26.88 points or 0.42% to 6,490.27
  • DAX 30 decreased 60.38 points or -0.45% to 13,252.86

 

The major Europe currency markets had a mixed day today:

  • EURUSD increased 0.00284 or 0.23% to 1.21428
  • GBPUSD increased 0.01122 or 0.84% to 1.34827
  • USDCHF decreased 0.00298 or -0.33% to 0.89169

 

Some economic news from Europe today:

Spain:

Spanish Services PMI (Nov) decreased from 41.4 to 39.5

Italy:

Italian Composite PMI (Nov) decreased from 49.2 to 42.7

Italian Services PMI (Nov) decreased from 46.7 to 39.4

France:

French Markit Composite PMI (Nov) decreased from 47.5 to 40.6

French Services PMI (Nov) decreased from 46.5 to 38.8

Germany:

German Composite PMI (Nov) decreased from 55.0 to 51.7

German Services PMI (Nov) decreased from 49.5 to 46.0

UK:

Composite PMI (Nov) decreased from 52.1 to 49.0

Services PMI (Nov) decreased from 51.4 to 47.6

Norway:

House Price Index (YoY) (Nov) increased from 7.10% to 7.80%

Euro Zone:

Markit Composite PMI (Nov) decreased from 50.0 to 45.3

Services PMI (Nov) decreased from 46.9 to 41.7

Retail Sales (YoY) (Oct) increased from 2.5% to 4.3%

Retail Sales (MoM) (Oct) increased from -1.7% to 1.5%

US/AMERICAS:

US Market Closings:

  • Dow advanced 86.71 points or 0.29% to 29,970.5
  • S&P 500 declined 2.27 points or -0.06% to 3,666.74
  • Nasdaq advanced 27.82 points or 0.23% to 12,377.18
  • Russell 2000 advanced 10.67 points or 0.58% to 1,848.7

Canada Market Closings:

  • TSX Composite advanced 39.81 points or 0.23% to 17,398.02
  • TSX 60 advanced 1.05 points or 0.1% to 1,035.48

Brazil Market Closing:

  • Bovespa advanced 413.06 points or 0.37% to 112,291.59

ENERGY:

The oil markets had a mixed day today:

  • Crude Oil increased 0.46 USD/BBL or 1.02% to 45.7400
  • Brent increased 0.55 USD/BBL or 1.14% to 48.8000
  • Natural gas decreased 0.25 USD/MMBtu or -8.99% to 2.5300
  • Gasoline increased 0.0208 USD/GAL or 1.68% to 1.2607
  • Heating oil increased 0.0262 USD/GAL or 1.92% to 1.3924

 

The above data was collected around 13:15 EST on Thursday

  • Top commodity gainers: Heating Oil (1.92%), Bitumen (2.60%), Coal (2.18%), and Oat (3.02%)
  • Top commodity losers: Natural Gas (-8.99%), Feeder Cattle (-1.53%), Palladium (-3.96%), and Soda Ash (-2.81%)

The above data was collected around 13:25 EST on Thursday.

BONDS:

Japan 0.03%(+1bp), US 2’s 0.15%(-0.010%), US 10’s 0.92%(-3bps); US 30’s 1.67%(-0.034%), Bunds -0.53% (-1bp), France -0.29% (-0bp), Italy 0.56% (-4bp), Turkey 12.45% (+22bp), Greece 0.63% (-7bp), Portugal 0.04% (-3bp); Spain 0.07% (-3bp) and UK Gilts 0.33% (-3bp).

 

  • US 4-Week Bill Auction decreased from 0.080% to 0.075%
  • US 8-Week Bill Auction decreased from 0.080% to 0.075%