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Japan May all industry activity index +0.1% vs 0.0% m/m expected

“The data is often referred to as the monthly GDP reading, it’s a tracker production across all sectors of the Japanese economy and follows the GDP growth figures/trend” reports forexlive.com. Still not an encouraging sign that the Japanese economy is on solid ground right now in 2018. A minor data point though. Source: forexlive.com Share This:

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Asian stocks choppy, sentiment shaken by sliding yuan

“Lastly, a weaker yuan deepens trade war concerns.”” writes Midwest Communications Inc for 95kqds.com. First, a weaker yuan challenges the competitiveness of other Asian economies,” said Shusuke Yamada, currency and equity strategist at Bank of America Merrill Lynch in Tokyo.The dollar index against a basket of six major currencies stood little changed at 95.178 after being knocked down from 95.652, its highest level since July 2017.”The weaker currency also causes fears of capital leaving China and disrupting their capital markets, which could have knock-on effects on Asia.With China showing little…

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Gold pares losses, but still ends at 1-year low, in correction territory

“Gold prices erased much of their earlier losses on Thursday, but still finished at a one-year low, as President Donald Trump voiced his displeasure with Federal Reserve rate increases, prompting a decline in the benchmark dollar index” writes Markets Commodities Reporter for marketwatch.com. The settlement marked gold’s entry into correction territory—down more than 10% from its peak on Jan. 15 at $1,362.90.A popular fund used to bet on gold’s moves, SPDR Gold Shares GLD, -0.25% was down 0.2%, trading around 1.3% lower for the week.August gold GCQ8, -0.08%  declined by…

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Dow retains afternoon slump as Trump says he isn’t ‘thrilled’ with Fed rate hikes

“The U.S. dollar, as gauged by the ICE U.S. Dollar Index DXY, -0.01% went from a gain of 0.4% before the president’s remarks to down 0.1% as of 1.24 p.m” writes Mark Decambre for marketwatch.com. However, asset moves were the most pronounced in the dollar and in benchmark 10-year Treasury rates, which are the most sensitive to rate-hike expectations.Trump said he wasn’t “thrilled” with the central bank’s interest-rate raises which have pushed the federal-funds rate to a range of 1.75% and 2%, with further hikes penciled in possibly for September…

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Dollar index turns negative after Trump say’s he’s not ‘thrilled’ with Feds’ rate hikes

“Trump told CNBC during an interview on Thursday that he isn’t “thrilled” that the Federal Reserve is hiking interest rates” writes Anneken Tappe for marketwatch.com. The Federal Reserve has so far raised interest rates seven times since the end of 2015, with up to two more rate hikes expected in 2018.The U.S. dollar turned negative versus its main rivals on Thursday after President Donald Trump said he disagreed with the Federal Reserve’s strategy to gradually hike interest rates.The monetary tightening guided both the dollar, as well as U.S. Treasury yields…

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Michael Batnick: Pareto

“Misleading is not my M.O. The top 5 companies have a market cap of $4.09T, the next 213 companies have a market cap of $17.14T, and the remaining 282 have a market cap of $4.02T” writes Michael Batnick for theirrelevantinvestor.com. The first decile is the 50 largest stocks, the second decile is the next 50 largest stocks, and so on.This chart shows that the five largest S&P 500 stocks have a market capitalization equal to the bottom 282 S&P 500 stocks.The Pareto Principle is a feature of financial markets, not…

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Dow at risk of snapping a 5-day rally as consumer-staples, financials slide

“U.S. stocks opened lower Thursday, with the Dow Jones Industrial Average on the verge of ending a multisession rally as investors focused on quarterly earnings and fresh developments in disputes between the U.S. and its global trade partners” writes Mark Decambre for marketwatch.com. The technology-laden Nasdaq Composite Index was down 0.1% at 7,846, but not far off its record high set on Tuesday.The Dow DJIA, -0.57% was down nearly 60 points, or 0.2%, at 25,140, the S&P 500 index SPX, -0.55% was off 0.2% at 2,810, with a decline of…

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Dow’s earnings reporters acting as a 20-point drag on the index

“And Travelers Companies Inc.’s stock TRV, -3.09% dropped 2.7% after earnings missed big, but revenue beat, to be about a 24-point drag on the Dow” writes Reporter Editor for marketwatch.com. AXP, -2.64% sank 3.2% in premarket trade, after the credit-card company beat earnings expectations but missed on revenue, which would shave about 21 points off the Dow’s price.International Business Machines Corp.’s stock IBM, +3.79% rallied 2.4% premarket after earnings and revenue beat expectations, which would add about 25 points to the Dow. Combined, those three stock was cut the Dow’s…

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