{"id":84512,"date":"2020-01-24T09:13:18","date_gmt":"2020-01-23T22:13:18","guid":{"rendered":"https:\/\/www.fnarena.com\/?p=84512"},"modified":"2020-01-24T10:02:02","modified_gmt":"2020-01-23T23:02:02","slug":"the-overnight-report-europe-down-us-pauses","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2020\/01\/24\/the-overnight-report-europe-down-us-pauses\/","title":{"rendered":"The Overnight Report: Europe Down, US Pauses"},"content":{"rendered":"

Sharemarkets in Europe and Asia retreated last night as Wall Street closed little changed<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
World Overnight<\/strong><\/span><\/td>\n<\/tr>\n
SPI Overnight (Mar)<\/strong><\/span><\/td>\n7051.00<\/strong><\/span><\/td>\n+ 21.00<\/strong><\/span><\/td>\n0.30%<\/strong><\/span><\/td>\n<\/tr>\n
S&P ASX 200<\/strong><\/span><\/td>\n7088.00<\/strong><\/span><\/td>\n– 44.70<\/strong><\/span><\/td>\n– 0.63%<\/strong><\/span><\/td>\n<\/tr>\n
S&P500<\/strong><\/span><\/td>\n3325.54<\/strong><\/span><\/td>\n+ 3.79<\/strong><\/span><\/td>\n0.11%<\/strong><\/span><\/td>\n<\/tr>\n
Nasdaq Comp<\/strong><\/span><\/td>\n9402.48<\/strong><\/span><\/td>\n+ 18.71<\/strong><\/span><\/td>\n0.20%<\/strong><\/span><\/td>\n<\/tr>\n
DJIA<\/strong><\/span><\/td>\n29160.09<\/strong><\/span><\/td>\n– 26.18<\/strong><\/span><\/td>\n– 0.09%<\/strong><\/span><\/td>\n<\/tr>\n
S&P500 VIX<\/strong><\/span><\/td>\n12.98<\/strong><\/span><\/td>\n+ 0.07<\/strong><\/span><\/td>\n0.54%<\/strong><\/span><\/td>\n<\/tr>\n
US 10-year yield<\/strong><\/span><\/td>\n1.74<\/strong><\/span><\/td>\n– 0.03<\/strong><\/span><\/td>\n– 1.64%<\/strong><\/span><\/td>\n<\/tr>\n
USD Index<\/strong><\/span><\/td>\n97.68<\/strong><\/span><\/td>\n+ 0.15<\/strong><\/span><\/td>\n0.15%<\/strong><\/span><\/td>\n<\/tr>\n
FTSE100<\/strong><\/span><\/td>\n7507.67<\/strong><\/span><\/td>\n– 64.25<\/strong><\/span><\/td>\n– 0.85%<\/strong><\/span><\/td>\n<\/tr>\n
DAX30<\/strong><\/span><\/td>\n13388.42<\/strong><\/span><\/td>\n– 127.33<\/strong><\/span><\/td>\n– 0.94%<\/strong><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Greg Peel will resume writing the Overnight Report after Australia Day (next week). In the meantime, Jessica Amir from Bell Direct is providing a snapshot of insights and developments from overseas markets overnight.<\/em><\/p>\n

By Jessica Amir, Bell Direct<\/p>\n

The Australian share market is eyeing a positive day of trade after the World Health Organisation (WHO) suppressed some of the fears around the globe about the coronavirus.<\/span><\/span><\/p>\n

The WHO said, it was “too early to consider this event is a public health emergency of international concern.” A bit of a sigh of relief for investors, after the strain of virus has killed 18 people in China and infected over 650. <\/span><\/span><\/p>\n

In the US, stocks recovered from most of their earlier losses on the back of the WHO’s remarks, with airline stocks, anti-virus and vaccine companies seeing some healthy gains. American Airlines shares rose 5.4%, United Airlines closed 1.9% higher, while Inovio Pharmaceuticals surged 11.6%, and Gilead Sciences added 0.8%. We also saw the tech heavy Nasdaq close at a new record high. <\/span><\/span><\/p>\n

Over in Europe, the ECB held its rates steady and launched a review of its monetary policy, as expected. The ECB President, Christine Lagarde didn’t provide any further detail when the market wanted more, which is why EU shares fell further from their record all-time highs. <\/span><\/span><\/p>\n

In terms of local economic news <\/span><\/span><\/strong><\/p>\n

Yesterday we learnt the <\/span><\/span>unemployment unexpectedly fell to 5.1% in December, which is closer to the RBA’s target of 4.5%. <\/span><\/span>It was good news but caused investors to take local sharemarket profits off the table, with some traders thinking the RBA is now less likely to cut rates next month.<\/span><\/span><\/p>\n

Today, all eyes will be on the manufacturing and services sector data for January. <\/span><\/span><\/p>\n

To Markets<\/span><\/span><\/strong><\/p>\n

The Aussie share market futures are suggesting a 0.21%\/15 point gain. Yesterday the benchmark index, ASX200<\/strong> fell -0.63% or 45 points, closing at 7,088 points. That’s our second best close on record! Year to date, the market is up 6.76%. <\/span><\/span><\/p>\n

On Wall Street, after their choppy session the Dow Jones<\/strong> closed virtually flat for the second day (0.09%\/26 points lower), while the broader S&P500<\/strong> rose 0.11% and Nasdaq<\/strong> added 0.20%. <\/span><\/span><\/p>\n

European markets<\/span><\/span><\/strong> closed in the red. The Stoxx 600 <\/strong>lost -0.71%<\/strong>, UK’s FTSE<\/strong> lost -0.85%, the French CAC<\/strong> fell -0.65%, while the German DAX<\/strong> lost -0.94%. <\/span><\/span><\/p>\n

In Asia, <\/span><\/span><\/strong>stocks in China fell the most, seeing their biggest one-day loss since last May last year, as the deadly virus death toll rose, while the city of Wuhan where the virus spread rapidly, remains in lockdown. China’s Shanghai Comp <\/strong>stumbled -2.75% <\/strong>lower, Hong Kong’s Heng Seng <\/strong>followed, losing -1.52%, while Japan’s Nikkei <\/strong>lost -1%, along with Korea’s Kospi. <\/span><\/span><\/p>\n

Gold<\/span><\/span><\/strong> firmed US$5.00 higher to US$1,562 an ounce. <\/span><\/span><\/p>\n

Oil <\/span><\/span><\/strong>continued to fall, losing –1.95% to <\/strong>US$55.65 a barrel, that’s an 11-week low, with China’s virus outbreak causing demand concerns.  <\/span><\/span><\/p>\n

Iron ore<\/span><\/span><\/strong> is -0.04% lower at US$94.80 a tonne. <\/span><\/span><\/p>\n

Australian dollar <\/span><\/span><\/strong>trades at 68.43 US cents. <\/span><\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Spot Metals,Minerals & Energy Futures<\/strong><\/span><\/td>\n<\/tr>\n
Gold (oz)<\/strong><\/span><\/td>\n1561.70<\/strong><\/span><\/td>\n+ 3.80<\/strong><\/span><\/td>\n0.24%<\/strong><\/span><\/td>\n<\/tr>\n
Silver (oz)<\/strong><\/span><\/td>\n17.79<\/strong><\/span><\/td>\n– 0.01<\/strong><\/span><\/td>\n– 0.06%<\/strong><\/span><\/td>\n<\/tr>\n
Copper (lb)<\/strong><\/span><\/td>\n2.71<\/strong><\/span><\/td>\n– 0.06<\/strong><\/span><\/td>\n– 2.00%<\/strong><\/span><\/td>\n<\/tr>\n
Aluminium (lb)<\/strong><\/span><\/td>\n0.81<\/strong><\/span><\/td>\n– 0.01<\/strong><\/span><\/td>\n– 1.07%<\/strong><\/span><\/td>\n<\/tr>\n
Lead (lb)<\/strong><\/span><\/td>\n0.89<\/strong><\/span><\/td>\n– 0.01<\/strong><\/span><\/td>\n– 1.11%<\/strong><\/span><\/td>\n<\/tr>\n
Nickel (lb)<\/strong><\/span><\/td>\n6.05<\/strong><\/span><\/td>\n– 0.08<\/strong><\/span><\/td>\n– 1.25%<\/strong><\/span><\/td>\n<\/tr>\n
Zinc (lb)<\/strong><\/span><\/td>\n1.08<\/strong><\/span><\/td>\n– 0.02<\/strong><\/span><\/td>\n– 1.75%<\/strong><\/span><\/td>\n<\/tr>\n
West Texas Crude <\/strong><\/span><\/td>\n55.50<\/strong><\/span><\/td>\n– 1.20<\/strong><\/span><\/td>\n– 2.12%<\/strong><\/span><\/td>\n<\/tr>\n
Brent Crude<\/strong><\/span><\/td>\n61.94<\/strong><\/span><\/td>\n– 1.22<\/strong><\/span><\/td>\n– 1.93%<\/strong><\/span><\/td>\n<\/tr>\n
Iron Ore (t) futures<\/strong><\/span><\/td>\n92.05<\/strong><\/span><\/td>\n– 3.35<\/strong><\/span><\/td>\n– 3.51%<\/strong><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The Australian share market over the past thirty days…<\/strong><\/p>\n

<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
BROKER RECOMMENDATION CHANGES PAST THREE TRADING DAYS<\/span><\/td>\n<\/tr>\n
AGL<\/td>\nAGL ENERGY<\/td>\nDowngrade to Sell from Neutral<\/td>\nUBS<\/td>\n<\/tr>\n
APE<\/td>\nAP EAGERS<\/td>\nDowngrade to Hold from Add<\/td>\nMorgans<\/td>\n<\/tr>\n
CLW<\/td>\nCHARTER HALL LONG WALE REIT<\/td>\nUpgrade to Neutral from Underperform<\/td>\nMacquarie<\/td>\n<\/tr>\n
CQE<\/td>\nCHARTER HALL SOC INFRA REIT<\/td>\nUpgrade to Accumulate from Hold<\/td>\nOrd Minnett<\/td>\n<\/tr>\n
CQR<\/td>\nCHARTER HALL RETAIL<\/td>\nUpgrade to Outperform from Underperform<\/td>\nMacquarie<\/td>\n<\/tr>\n
DMP<\/td>\nDOMINO'S PIZZA<\/td>\nDowngrade to Sell from Neutral<\/td>\nCiti<\/td>\n<\/tr>\n
DXS<\/td>\nDEXUS PROPERTY<\/td>\nUpgrade to Outperform from Underperform<\/td>\nMacquarie<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nUpgrade to Accumulate from Hold<\/td>\nOrd Minnett<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nUpgrade to Buy from Neutral<\/td>\nUBS<\/td>\n<\/tr>\n
FLT<\/td>\nFLIGHT CENTRE<\/td>\nDowngrade to Neutral from Outperform<\/td>\nCredit Suisse<\/td>\n<\/tr>\n
FMG<\/td>\nFORTESCUE<\/td>\nUpgrade to Neutral from Underperform<\/td>\nCredit Suisse<\/td>\n<\/tr>\n
HUB<\/td>\nHUB24<\/td>\nUpgrade to Add from Hold<\/td>\nMorgans<\/td>\n<\/tr>\n
IFN<\/td>\nINFIGEN ENERGY<\/td>\nUpgrade to Add from Hold<\/td>\nMorgans<\/td>\n<\/tr>\n
MGR<\/td>\nMIRVAC<\/td>\nUpgrade to Hold from Lighten<\/td>\nOrd Minnett<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nUpgrade to Neutral from Sell<\/td>\nUBS<\/td>\n<\/tr>\n
MTS<\/td>\nMETCASH<\/td>\nUpgrade to Neutral from Underperform<\/td>\nMacquarie<\/td>\n<\/tr>\n
NHF<\/td>\nNIB HOLDINGS<\/td>\nUpgrade to Neutral from Sell<\/td>\nUBS<\/td>\n<\/tr>\n
PPC<\/td>\nPEET & COMPANY<\/td>\nDowngrade to Neutral from Outperform<\/td>\nMacquarie<\/td>\n<\/tr>\n
QBE<\/td>\nQBE INSURANCE<\/td>\nUpgrade to Buy from Neutral<\/td>\nCiti<\/td>\n<\/tr>\n
REH<\/td>\nREECE AUSTRALIA<\/td>\nDowngrade to Hold from Add<\/td>\nMorgans<\/td>\n<\/tr>\n
RRL<\/td>\nREGIS RESOURCES<\/td>\nDowngrade to Underperform from Neutral<\/td>\nMacquarie<\/td>\n<\/tr>\n
SCG<\/td>\nSCENTRE GROUP<\/td>\nDowngrade to Sell from Neutral<\/td>\nUBS<\/td>\n<\/tr>\n
SCP<\/td>\nSHOPPING CENTRES AUS<\/td>\nUpgrade to Neutral from Underperform<\/td>\nMacquarie<\/td>\n<\/tr>\n
SGP<\/td>\nSTOCKLAND<\/td>\nDowngrade to Lighten from Hold<\/td>\nOrd Minnett<\/td>\n<\/tr>\n
SUN<\/td>\nSUNCORP<\/td>\nDowngrade to Neutral from Buy<\/td>\nCiti<\/td>\n<\/tr>\n
SYD<\/td>\nSYDNEY AIRPORT<\/td>\nDowngrade to Neutral from Outperform<\/td>\nMacquarie<\/td>\n<\/tr>\n
TCL<\/td>\nTRANSURBAN GROUP<\/td>\nDowngrade to Accumulate from Buy<\/td>\nOrd Minnett<\/td>\n<\/tr>\n
WOW<\/td>\nWOOLWORTHS<\/td>\nUpgrade to Outperform from Neutral<\/td>\nMacquarie<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

For more detail go to FNArena's Australian Broker Call Report<\/a>, which is updated each morning, Mon-Fri.<\/p>\n

All overnight and intraday prices, average prices, currency conversions and charts for stock indices, currencies, commodities, bonds, VIX and more available on the FNArena website.  Click here<\/a>. (Subscribers can access prices on the website.)<\/em><\/p>\n

(Readers should note that all commentary, observations, names and calculations are provided for informative and educational purposes only. Investors should always consult with their licensed investment advisor first, before making any decisions. All views expressed are the author's and not by association FNArena's – see disclaimer on the website)<\/strong><\/em><\/p>\n

All paying members at FNArena are being reminded they can set an email alert specifically for The Overnight Report. Go to Portfolio and Alerts on the website and tick the box in front of The Overnight Report. You will receive an email alert every time a new Overnight Report has been published on the website.<\/em><\/p>\n

Find out why FNArena subscribers like the service so much: "Your Feedback (Thank You)<\/a>" – Warning this story contains unashamedly positive feedback on the service provided. www.fnarena.com<\/em><\/p>\n

FNArena is proud about its track record and past achievements: Ten Years On<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Sharemarkets in Europe and Asia retreated last night as Wall Street closed little changed (Available for non-subscribers after 10am)<\/p>\n","protected":false},"author":3,"featured_media":84518,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[84],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/84512"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=84512"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/84512\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media\/84518"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=84512"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=84512"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=84512"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}