Epic Research Singapore : S&P Market Update

The S&P 500 SPX -0.89%  fell 16.40 points, or 0.9%, to 1,828.46, breaking a two-day winning streak. Losses were led by financials and materials sectors. Only telecoms, a sector whose stocks are known for their dividend yields, ended higher. The benchmark index is down 1.1% year-to-date.  
 The Dow Jones Industrial Average DJIA -1.08%  fell to a five-week low, shedding 175.99 points, or 1.1%, to 16,197.35. The blue-chip index recorded its third straight session of losses. 

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Epic Research Singapore : Nikkie Stock

The Nikkei Average’s 0.7% gain in the early minutes of Thursday trade now seems like a distant memory, with the benchmark ending 0.8% lower. The broader Topix fared worse, with a 0.9% loss.

As is often the case, the fall in stocks was mirrored by a gain in the yen. The trouble all started right after China’s disappointing manufacturing read from HSBC, with dollar/yen falling from around ¥104.80 to around ¥104.35 at the Tokyo stock close.
 
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Epic Research Singapore : U.S Market Update

Wall Street stocks finished mostly higher on Tuesday, but earnings misses dragged on the Dow industrials DJIA -0.25% , which ended down 0.3%. The S&P 500 SPX +0.06% firmed 0.3%, breaking a two-day losing streak. The best performance came from the Nasdaq Composite COMP +0.41% , which rose 0.7%, led by a rally in Apple Inc. AAPL +0.27% 

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Epic Research Singapore : U.S Market Update

Futures for the Dow Jones Industrial Average DJH4 -0.47%  fell 31 points to 16,324, while those for the Standard & Poor’s 500 index SPH4 -0.34%  eased 1.4 points to 1,837. Futures for the Nadsaq 100 index NDH4 -0.17%  were up 2.75 points to 3,612.25.  
 Weighing on blue chips premarket, shares of IBM IBM +0.22%  skidded 3.5% after the company delivered fourth-quarter revenue and a full-year earnings outlook late Tuesday that fell short of Wall Street hopes.

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Epic Research Singapore : Comex Market Update

Among the petroleum products traded on Nymex Tuesday, February gasoline RBG4 +0.48%  closed nearly flat at $2.62 a gallon, while February heating oil pulled back from an earlier rally to finish at $3.015 a gallon, down almost a penny.

February natural gas NGG14 +0.90% rallied by 10.5 cents, or 2.4%, to end at $4.43 per million British thermal units. Prices saw their highest close since late December , according to FactSet data tracking the most-active contracts.  

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Epic Research Singapore : Comex Market Update

In electronic trade, gold for February delivery GCG4 +0.11%  was up $1.50, or 0.1%, to $1,243.30 an ounce. March silver SIH4 +0.30%  tacked on 6 cents, or 0.3%, to $19.93 an ounce.

Gold on Tuesday gave back a big chunk of the gains that brought it to five-week highs as the dollar DXY -0.04%  strengthened and as bearish forecasts for the year took their toll.

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Epic Research Singapore : Comex Market Update

Elsewhere, March Brent oil UK:LCOH4 -0.01%   dropped 8 cents, or 0.1%, to $106.27 a barrel.  
 In other energy trading, February natural gas NGG14 -1.80%   fell 6 cents, or 1.5%, to $4.263 per million British thermal units.

February gasoline RBG4 +1.33%   was up 1 cent at $2.632 a gallon.

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Epic Research Singapore : Comex Market Update

February crude oil CLG4 -0.02%   fell 65 cents, or 0.7%, to $93.72 a barrel in electronic trading. Prices on Friday rose 41 cents, or 0.4%, to close at $94.37 a barrel on the New York Mercantile Exchange. In observance of the Martin Luther King Jr. holiday, a energy futures trading paused at 1:15 p.m. Eastern Time, and will reopen at 6 p.m. Eastern.  

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Epic Research Singapore : Forex Market Update

AUD/USD consolidating ahead of the data
AUD/USD remains below 0.88 and is likely to remain relatively sidelined ahead of China data. The data is out at 1pm AEDT and perhaps could finally help the pair bounce off three-year lows. We are currently trading at around 0.876 and a better-than-expected print could see the pair trade back towards previous support in the 0.8850 region. That’s where I would be looking for resistance and perhaps closer to 0.89 would encourage fresh selling. CPI data could be the trigger of fresh selling as it is likely to remain benign given the weaker economic trends especially jobs being lost.

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Epic Research Singapore : U.S Market Update

Stocks ended last week mixed with the Dow Jones Industrial Average DJIA +0.25%  rising 0.1% for the week and the Nasdaq Composite Index COMP -0.50%  finishing up 0.6%. The S&P 500 Index SPX -0.39%  slipped 0.2%. Year-to-date, only the Nasdaq is showing a gain, by about 0.5%.  

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Epic Research Singapore : Forex Market Update

The dollar USDJPY -0.0323%  traded at ¥104.26 versus ¥104.29, and was up 0.1% against the yen on the week.

In other forex action, the Australian dollar AUDUSD -0.4437% dropped to 87.74 U.S. cents from 88.15 U.S. cents late Thursday. The Aussie on Thursday tumbled to a nearly 3 1/2-year low, rocked by speculation of an interest-rate cut by the Reserve Bank of Australia following a disappointing Australian jobs report for December.  

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Epic Research Singapore : Forex Market Update

The euro EURUSD -0.07%  traded at $1.3615 compared with $1.3619 late Thursday in North America, while the yen also moved sideway, with dollar USDJPY +0.01%  at ¥104.33, little changed from ¥104.29.

The British pound GBPUSD -0.14%   declined modestly to $1.6343 from $1.6359 ahead of a retail-sales report from the Office for National Statistics for December that should provide insight on spending trends during the key holiday-shopping season.  

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Epic Research Singapore :Hang Seng Update

The Hang Seng Index HK:HSI +0.30% added 0.6% to 23,032.09. Market heavyweight China Mobile HK:941 +0.91% CHL -0.08% rallied 0.9%, as the world's largest mobile carrier said it has received more than 1 million pre-orders for the iPhone before it goes on sale in the carrier's stores on Friday, at a time when Apple Inc. AAPL +0.33% Chief Executive Tim Cook visited Beijing for future cooperation between the two giants. 

Telecom equipment shares also advanced, with ZTE Corp. HK:763 +2.60% ZTCOF +0.50% rising 1.2%. Meanwhile, China Mobile's smaller rivals slipped, as China Unicom HK:762 -2.03% CHU -0.07% dropped 0.7%, and China Telecom HK:738 0.00% CNCT -16.49% fell 0.5%. China South City Holdings HK:1668 +53.92% , a developer of logistics and trade centers, surged 56%, after the company announced that Internet giant Tencent Holdings HK:700 +3.05% TCTZF +2.72% would invest about 1.5 billion Hong Kong dollars ($195 million) for an almost 10% stake in the developer in order to expand their business online, including e-commerce and online payment services. Tencent Holdings HK:700 +3.05% TCTZF +2.72% climbed 3%. On the mainland, the Shanghai Composite CN:SHCOMP +0.04% edged down 0.1% at 2,021.62.  

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Epic Research Singapore : Forex Market Update

In other trade, the euro EURUSD +0.14%  fell to $1.3607 from $1.3679 late Tuesday, while the pound GBPUSD +0.01%  moved lower to $1.6374 from $1.6444.

The Australian dollar AUDUSD -1.13%  fell to 89.14 U.S. cents from 89.63 U.S. cents.  

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Epic Research Singapore : Forex Market Update

The dollar USDJPY +0.1820%  rose to ¥104.60 from ¥104.14 late Tuesday. The weakness in the yen has shown a strong correlation with a rising Japanese stock market, though that tie has frayed a bit in the past month. Gains in the dollar-yen pair are more strongly correlated with a rising S&P 500, Brown Brothers Harriman currency strategist Marc Chandler told MarketWatch. U.S. stocks were rallying Wednesday on earnings and a strong report on regional manufacturing.  

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Epic Research Singapore : Comex Market Update

On ICE Futures Wednesday, February Brent crude UK:LCOG4 -0.36% tacked on 74 cents, or 0.7%, to close at $107.13 a barrel, ahead of the contract’s expiration on Thursday. Prices for the European benchmark had fallen 0.3% on Tuesday.
 February heating oil HOG4 -0.14% climbed 4 cents, or 1.5%, to $2.98 a gallon, while February gasoline RBG4 -0.32%  added less than half a penny, or 0.2%, to $2.63 a gallon.  

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Epic Research Singapore : U.S Market Update

The S&P 500 index SPX +0.52%  closed up 19.68 points, or 1.1%, to 1,838.88, while the Dow industrials DJIA +0.66%  rose 115.92 points, or 0.7%, to 16,373.86, breaking a four-session losing streak.  
 Other regions picked up the baton from Wall Street, with Japan’s Nikkei 225 index JP:NIK +0.32%  closing up 2.5% and Europe notching five-year highs, lifted by the World Bank comments. Oil prices inched up, while gold slipped. The dollar index traded choppy, but was last lower. 

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Epic Research Singapore : U.S Market Update

Futures for the Dow Jones Industrial Average DJH4 +0.09%  rose 21 points to 16,320, while those for the S&P 500 index SPH4 +0.08%  were up 1.9 points to 1,834.80. Futures for the Nasdaq 100 index NDH4 +0.12%  gaining 11.25 points, or 0.3%, to 3,585. as Apple rose on a China Mobile deal.  

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Epic Research Singapore : Forex Market Update

The British pound GBPUSD -0.09%  rose to $1.6444 from $1.6385 late Monday. The U.K.’s annual rate of inflation in December dropped to 2%, which is Bank of England’s target, from 2.1% in November. The surprise decline in December brings annual inflation to its lowest rate since Nov. 2009.  
 Meanwhile, the Australian dollar AUDUSD -0.58%  slipped to 89.63 U.S. cents from 90.60 U.S. cents late Monday.

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Epic Research Singapore : Forex Market Update

The dollar USDJPY +0.3506% weakened to ¥102.91 from late Friday’s ¥104.08. That’s the lowest level since Dec. 17th’s ¥102.62, according to FactSet data.

The euro EURUSD -0.08% was little-changed at $1.3670 from late Friday’s level around $1.3667. The British pound GBPUSD -0.01% dropped to $1.6385 from $1.6481 late Friday.

Meanwhile, the Australian dollar AUDUSD -0.27% rose to 90.60 U.S. cents from 89.95 U.S. cents on Friday, extending last week’s gain of 0.6% against the dollar. A report on Australia’s employment for December is due on Thursday.

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