S&P UPDATE OF 10TH AUG'2016 BY EPIC RESEARCH

theS&P 500 index could soar to 2,300 over the next several months, rising about 5% from its current toppy level.

But here’s the bad news: The Swiss investor, who publishes the aptly named Gloom, Boom & Doom Report, sees the large-cap benchmark shedding more than half its value, possibly over the next year.

“When it unravels, we are going to go to 1,100 on the S&P 500,” Faber told MarketWatch.

“Maybe we go first to 2,300, then we would have a perfect topping formation. A widening-top formation is about the most bearish technical formation you can have,” he said. Faber is referring to a so-called megaphone pattern, or broadening formation, which usually is associated with a sharp reversal in an upward trend for a security.

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Gasoline Market Update : Epic Research Singapore

Back on Nymex on Monday, August gasoline RBQ6, +0.04%  fell 2.8 cents, or 2.1%, to $1.334 a gallon and August heating oil HOQ6, +0.49%  lost 3.4 cents, or 2.5%, to $1.323 a gallon.

August natural gas NGQ16, -1.20%  ended at $2.747 per million British thermal units, down 3 cents, or 1.1%.

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Oil Market Update : Epic Research Singapore

Oil futures settled Monday at their lowest level in three months as the prospect of more oil-drilling activities in the U.S., a glut of petroleum-product supplies and an expected slowdown in domestic refining activities renewed worries that inventories of crude will continue to outpace consumption.

“Supply continues to return from disruptions, refined products are severely oversupplied, crude demand is falling well short of product demand and key product demand is decelerating,” analysts at Morgan Stanley said in a note dated Sunday.

September West Texas Intermediate crude CLU6, +0.23% fell $1.06, or 2.4%, to settle at $43.13 a barrel on the New York Mercantile Exchange. That was the weakest settlement for a most-active contract since April 25, according to FactSet data. September Brent crude LCOU6, +0.42%  on London’s ICE Futures exchange fell 97 cents, or 2.1%, to $44.72 a barrel.

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Platinum Market Update : Epic Research Singapore

Other metals traded on Comex settled mixed. October platinum PLV6, -0.10%  ended flat at $1,088.40 an ounce, while September palladium PAU6, -0.80%  added $2.70, or 0.4%, to $688.75 an ounce. September copper HGU6, -0.18% slipped 1.9 cents, or 0.8%, to $2.217 a pound.

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Oil Market Update : Epic Research Singapore

Oil futures lost more than 2% on Thursday, pressured by ample U.S. stockpiles of gasoline, as well as recent slowdowns in domestic crude production declines.

Meanwhile, prices for natural-gas recouped about half of what they lost a day earlier, after a U.S. government report revealed a weekly increase in supplies of the commodity that was below some market expectations.

September West Texas Intermediate crude CLU6, -1.09%  fell $1, or 2.2%, to settle at $44.75 a barrel on its first full trading day on the New York Mercantile Exchange as a front-month contract. The contract gained 0.7% on Wednesday. September Brent crude LCOU6, -1.00%  London’s ICE Futures exchange lost 97 cents, or 2.1%, to $46.20 a barrel.

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Silver Market Update : Epic Research Singapore

Meanwhile, September silver SIU6, -0.63% tacked on 20.2 cents, or 1%, to $19.815 an ounce to recoup about half of what it lost on Wednesday, when it ended at $
19.613—the lowest settlement since July 1, according to FactSet.

Among the exchange-traded funds, the SPDR Gold Trust GLD, -0.75%  was up 1.3% as of gold’s settlement, while the VanEck Vectors Gold Miners ETF GDX, -0.31%  gained 3.5%.

September copper HGU6, -1.00%  added a half a cent to $2.259 a pound, October platinum PLV6, -1.75%  climbed $16.50, or 1.5%, to $1,108 an ounce and September palladium PAU6, -0.01%  finished at $685.45 an ounce, up $9.45, or 1.4%.

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Natural Gas Market Update : Epic Research Singapore

Back on Nymex, August gasoline RBQ6, +0.24%  fell nearly a penny, or 0.6%, to end at $1.355 a gallon, with futures prices at their lowest since March. August heating oil HOQ6, +0.39%  fell 3.5 cents, or 2.5%, to $1.371 a gallon.

August natural gas NGQ16, -0.71%  tacked on 3.4 cents, or 1.3%, to $2.692 per million British thermal units. The EIA said Thursday that supplies rose 34 billion cubic feet for the week ended July 15. That was below the average rise of 40 billion cubic feet expected by analysts polled by S&P Global Platts.

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Oil Market Update : Epic Research Singapore

Oil futures lost more than 2% on Thursday, pressured by ample U.S. stockpiles of gasoline, as well as recent slowdowns in domestic crude production declines.

Meanwhile, prices for natural-gas recouped about half of what they lost a day earlier, after a U.S. government report revealed a weekly increase in supplies of the commodity that was below some market expectations.

September West Texas Intermediate crude CLU6, +0.18%  fell $1, or 2.2%, to settle at $44.75 a barrel on its first full trading day on the New York Mercantile Exchange as a front-month contract. The contract gained 0.7% on Wednesday. September Brent crude LCOU6, +0.32%  London’s ICE Futures exchange lost 97 cents, or 2.1%, to $46.20 a barrel.

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Silver Market Update : Epic Research Singapore

Meanwhile, September silver SIU6, -0.10% tacked on 20.2 cents, or 1%, to $19.815 an ounce to recoup about half of what it lost on Wednesday, when it ended at $19.613—the lowest settlement since July 1, according to FactSet.

Among the exchange-traded funds, the SPDR Gold Trust GLD, +1.52%  was up 1.3% as of gold’s settlement, while the VanEck Vectors Gold Miners ETF GDX, +3.14%  gained 3.5%.

September copper HGU6, -0.51%  added a half a cent to $2.259 a pound, October platinum PLV6, -0.43%  climbed $16.50, or 1.5%, to $1,108 an ounce and September palladium PAU6, -0.23%  finished at $685.45 an ounce, up $9.45, or 1.4%.

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Gasoline Market Update : Epic Research Singapore

On Nymex, August gasoline RBQ6, +0.18%  lost 1.2 cents, or 0.9%, to $1.364 a gallon, while August heating oil HOQ6, +0.27%  added 2.1 cents, or 1.5%, to $1.405 a gallon.

August natural gas NGQ16, -0.45%  ended at $2.658 per million British thermal units, down 7 cents, or 2.6%.

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Oil Market Update : Epic Research Singapore

Oil futures finished higher Wednesday, after data from the U.S. government revealed that crude stockpiles fell for a ninth week in a row, and by more than the market expected.

August West Texas Intermediate crude CLQ6, +0.45%  added 29 cents, or 0.7%, to settle at $44.94 a barrel on the New York Mercantile Exchange. The contract, which expired at Wednesday’s finish, was trading at $44.16 before the supply data. September WTI crude, which became the front-month contract, settled at $45.75, up 30 cents, or 0.7%.

September Brent crude LCOU6, +0.15% on London’s ICE Futures exchange rose 51 cents, or 1.1%, to $47.17 a barrel.

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Silver Market Update : Epic Research Singapore

Silver is correcting “more violently as gold, as the white metal historically trades more volatile than its yellow counterpart,” said Pantelis. “We don’t see precious metals entering a big correction, but mostly consolidation over the summer months, so this counts for silver too.”

Silver prices, which are supported by hedging and industrial-use demand, are still up about 5.1% month to date, while gold has seen a 0.2% decline for the month so far.

Based on the current gold/silver price ratio, Pantelis believes that the price of silver is still acting in favor of gold.

Meanwhile, September copper HGU6, +0.27%  fell just under a cent to $2.254 a pound. October platinum PLV6, -0.96%  shed $7.10, or 0.7%, to $1,091.50 an ounce. September palladium PAU6, -0.98%  added $19.60, or 3%, to $676 an ounce.

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'Vital statistics' that add up to a successful CEO

Honesty, humility and trustworthiness are important factors that can affect business success, according to Frasers Centrepoint chief executive Lim Ee Seng last night.

Mr Lim's views will carry extra weight, given that he clinched the gold award for best chief executive of a company with a market capitalisation of at least $1 billion.

Mr Lim, 65, told The Straits Times on the sidelines of the Singapore Corporate Awards 2016 at Resorts World Convention Centre that capability, strategy and luck are critical as well.

"There are many factors affecting strategy, so there is luck that affects you, that can work in your favour. You don't have absolute control but you must be able to minimise risk," he added.

"As a CEO, there is a heavy responsibility as far as shareholders, staff and the public are concerned, particularly for listed companies, as you need to have tangible results which the company can achieve, adding value to not just shareholders, but also contributing to the public, to industry and to the environment for us in the real estate industry."

The key challenge he has faced in his 40 years in the real estate business is the cyclical nature of the sector. "Whatever goes up must come down; whatever goes down must come up. More importantly, you need to have faith in the country in which you are investing in," he said.

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Bourse's attempts to reopen market hit by problems in orders and trade confirmation process

The longest trading disruption in the Singapore Exchange's (SGX) history was triggered by disk failure and a software application that did not detect the problem.

Compounding the situation, attempts to reopen the market last Thursday were stymied by problems in the orders and trade confirmation process, the SGX disclosed yesterday.

Trading was halted for over five hours that day after the discovery of a technical fault that resulted in some clearing messages not being generated and some trade confirmation messages being duplicated.

The hardware was supplied by computer giant and IT firm Hewlett- Packard (HP), while the software application was from United States stock exchange Nasdaq.

SGX chief executive Loh Boon Chye told reporters yesterday that the root cause was "a faulty disk that runs the applications that generates trade confirmation messages".

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Market highlights

1 Gold edged higher yesterday as European shares hit a one-week low after data that showed Britain's vote on European Union membership dented German business confidence.

2 Goldman Sachs posted a 74 per cent rise in second-quarter profit as legal costs fell and fixed-income revenue surpassed analyst estimates. Net income rose to US$1.82 billion (S$2.5 billion), Bloomberg reported.

3 DMX Technologies said Anken HR has filed a writ of summons in the Hong Kong court, claiming $55,000, the fee due Mr Daniel Kung, a former independent director. DMX will defend the claim.

4 Manufacturing Integration Technology expects a net loss for the six months to June 30 due to the weak global market and the weakening of the US dollar against the Singdollar.

5 Ornamental fish supplier Qian Hu said profit for the quarter ended June 30 was up 25 per cent to $15,000. Revenue fell 4.6 per cent to $19.1 million.

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Gasoline Market Update : Epic Research Singapore

On Nymex, futures prices for August gasoline RBQ6, +0.11%  ended at $1.376 a gallon, down 1.2 cents, or 0.8%, while August heating oil HOQ6, +0.04%  rose less than a cent to $1.384 a gallon.

August natural gas NGQ16, -0.40%  also added less than a penny to $2.728 per million British thermal units.

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Oil Market Update : Epic Research Singapore

Oil futures fell Tuesday, with the U.S. benchmark settling at a 10-week low.

Traders fretted over ample inventories of crude and petroleum products and the potential for a slowdown in energy demand on the back of a lower global economic outlook from the International Monetary Fund.

August West Texas Intermediate crude CLQ6, -0.04%  fell 59 cents, or 1.3%, to settle at $44.65 a barrel on the New York Mercantile Exchange, after losing 1.6% a day earlier. That’s the lowest close since May 9. The August WTI contract expires at Wednesday’s settlement, which often fuels trading volatility.

September Brent crude LCOU6, +0.06%  on London’s ICE Futures exchange fell 30 cents, or 0.6%, to end at $46.66 a barrel.

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Copper Market Update : Epic Research Singapore

On Comex Tuesday, September copper HGU6, -1.04% rose 2.6 cents, or 1.2%, to $2.263 a pound. October platinum PLV6, -0.56%  fell $3, or 0.3%, to $1,098.60 an ounce. September palladium PAU6, -0.20% added $10.35, or 1.6%, to $656.40 an ounce.

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Gasoline Market Update : Epic Research Singapore

Back on Nymex, prices for refined oil products also ended lower. August gasoline RBQ6, +0.06%  fell 3.5 cents, or 2.5%, to $1.387 a gallon and August heating oil HOQ6, +0.07%  settled at $1.378 a gallon, down 2 cents, or 1.4%.

August natural gas NGQ16, +0.59%  fell 3.4 cents, or 1.2%, to $2.722 per million British thermal units.

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Oil Market Update : Epic Research Singapore

Oil futures settled lower on Monday, losing more than 1% as traders dismissed worries of supply disruptions from the attempted coup in Turkey.

August West Texas Intermediate crude CLQ6, -0.42%  fell 71 cents, or 1.6%, to settle at $45.24 a barrel on the New York Mercantile Exchange. It had traded as high as $46.14 overnight, according to FactSet. September Brent crude LCOU6, -0.32%  on London’s ICE Futures exchange declined by 65 cents, or 1.4%, to $46.96 a barrel.

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