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10 September 2016
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10 September 2016
Friday, 9 September 2016
Global Markets & News-The Total Investment & Insurance Solutions
Contact Your Financial
Adviser Money Making MC
9
September 2016
OVERNIGHT MARKETS AND NEWS
Sep E-mini S&Ps (ESU16 -0.30%) are down -0.25% and European stocks are down -0.33% on concern that global central banks
may have lost their desire for further stimulus measures after the ECB on
Thursday refrained from expanding QE. European stocks were also under pressure
on growth concerns in Germany, Europe's largest economy, after German Jul
exports unexpectedly fell by the most in 11 months and Jul imports unexpectedly
declined. Asian stocks settled mostly lower: Japan +0.04%, Hong Kong +0.75%,
China -0.55%, Taiwan -1.06%, Australia -0.86%, Singapore -0.73%, South Korea -1.36%, India -0.85%. South Korea's Kospi Index fell
closed down over 1% after North Korea conducted a nuclear test that South
Korean President Park Geun Hye called an act of "maniacal
recklessness."
The dollar index (DXY00 -0.04%) is up +0.02%. EUR/USD (^EURUSD)
is up +0.03%. USD/JPY (^USDJPY) is up +0.19%.
Dec T-note prices (ZNZ16 -0.10%) are down -3 ticks.
The German Jul trade
balance shrank to a surplus of +19.5 billion euros, narrower than expectations
of +23.7 billion euros and the smallest surplus in 6 months. Jul exports
unexpectedly fell -2.6% m/m, weaker than of +0.4% m/m and the
biggest decline in 11 months. Jul imports unexpectedly fell -0.7%m/m, weaker than expectations of
+0.5% m/m.
China Aug CPI rose +1.3%
y/y, weaker than expectations of +1.7% y/y and the smallest pace of increase 10
months. Aug PPI fell -0.8% y/y, stronger than expectations of -0.9% y/y and the smallest pace of decline
in 4-1/3 years. The Total Investment
& Insurance Solutions
Key U.S. news today
includes: (1) Boston Fed President Eric Rosengren (voter) speaks at the South
Shore Chamber Breakfast, (2) Dallas Fed President Robert Kaplan (non-voter)
takes part in a moderated Q&A session at a Mission Capital conference in
Austin, TX, (3) revised Jul wholesale inventories (expected +0.1% m/m, prelim
Jul unch m/m) and Jul wholesale trade sales (expected +0.2%, Jun +1.9% m/m),
and (4) USDA weekly Export Sales.
Russell 1000 companies
that report earnings today: Kroger (consensus $0.45).
U.S. IPO's scheduled to
price today: none.
Equity conferences today
include: none. The Total Investment
& Insurance Solutions
JPMorgan Chase (JPM +0.13%) was downgraded to 'Neutral'
from 'Outperform' at Macquarie.
Advanced Micro Devices (AMD -9.06%) lost almost 2% in pre-market
trading after pricing a public offering of $600 million worth of common stock.
Harley-Davidson (HOG -0.63%) was rated a new 'Outperform'
at Bernstein with a 12-month target price of $64.
Chesapeake Energy (CHK +13.66%) was upgraded to 'Buy' from
'Hold' at Wunderlich Securities.
El Pollo Loco Holdings (LOCO -1.74%) climbed 6% in after-hours
trading after it was announced that it will replace American Science &
Engineering in the SmallCap 600 Index after the close of trading Monday,
September 12.
Finisar (FNSR -1.78%) jumped over 12% in after-hours
trading after it reported Q1 adjusted EPS of 38 cents, higher than consensus of
30 cents, and then said it sees Q2 adjusted EPS of 44 cents-50 cents, above consensus of 32 cents.
Oclaro (OCLR -1.30%) rose nearly 5% in after-hours
trading after Finisar's Q2 EPS view was well above expectations.
Restoration Hardware
Holdings (RH +1.18%) gained 13% in pre-market
trading after it reported Q2 adjusted EPS of 44 cents, well above consensus of
29 cents.
Zumiez (ZUMZ unch) rallied 5% in after-hours
trading after it reported a Q2 loss of -3 cents a share, better than consensus
for an -8 cent loss, and said it sees Q3 sales
of $209 million-$213 million, above consensus of $206.6 million.
Swift Transportation (SWFT +0.61%) jumped over 6% in after-hours
trading after CEO Jerry Moyes said he will retire effective Dec 31 and current
COO and President Richard Stocking will replace him as CEO.
Williams Cos. (WMB +2.67%) slid 3% in after-hours trading
after Enterprise Products said it is withdrawing interest in a takeover of
Williams. Enterprise Products (EPD +0.52%)
rose nearly 2% in after-hours trading after the statement.
MGM Holdings (MGMB +2.94%) rose nearly 3% in after-hours
trading after it said it still sees adjusted Ebitda margin of 30% this year,
above the 25% from 2015.
Vince Holding (VNCE -3.28%) dropped over 7% in after-hours
trading after it reported Q2 revenue of $60.7 million, below consensus of $64.1
million.
Xactly (XTLY +0.95%) fell over 3% in after-hours
trading after it said it sees Q3 revenue of $23.3 million-$24.1 billion, at the
low end of expectations of $24.0 million.
Lantheus Holdings (LNTH -0.94%) tumbled over 11% in
after-hours trading after it announced a public offering of 5.2 million shares
of common stock. The Total Investment
& Insurance Solutions
Sep E-mini S&Ps (ESU16 -0.30%) this morning are down -5.50 points (-0.25%). Thursday's closes:
S&P 500 -0.22%, Dow Jones -0.25%, Nasdaq-0.58%. The S&P 500
on Thursday closed lower on disappointment that the ECB did not expand stimulus
measures at its policy meeting. Stocks recovered from their worst levels as
energy producer stocks rallied after crude oil surged +4.66% to a 1-week high.
Dec 10-year T-notes (ZNZ16 -0.10%) this morning are down -3 ticks.
Thursday's closes: TYZ6 -20.50,
FVZ6 -11.50. Dec T-notes on Thursday closed lower
on the unexpected drop in U.S. weekly jobless claims to a 7-week low and on
disappointment that the ECB did not expand QE. There were also increased
inflation expectations after the 10-year T-note breakeven inflation rate rose
to a 2-1/2 month high.
The dollar index (DXY00 -0.04%) this morning is up +0.020
(+0.02%). EUR/USD (^EURUSD) is up +0.0003 (+0.03%). USD/JPY (^USDJPY)
is up +0.19 (+0.19%). Thursday's closes: Dollar index +0.071 (+0.07%), EUR/USD
+0.0021 (+0.19%), USD/JPY +0.75 (+0.74%). The dollar index on Thursday
recovered from a 2-week low and closed higher on signs of U.S. labor market
strength that may prompt the Fed to raise interest rates after U.S. weekly
jobless claims unexpectedly fell to a 7-week low. Another hawkish factor for
Fed policy was the increase in the 10-year inflation breakeven rate to a 2-1/2
month high due to the sharp +4.66% rally in oil prices. The dollar was undercut
by the rally in EUR/USD to a 2-week high after the ECB refrained from addtional
stimulus measures at its policy meeting.
Oct crude oil (CLV16 -1.24%) this morning is down -66 cents
(-1.39%) and Oct gasoline (RBV16 -1.98%)
is down -0.0324 (-2.29%). Thursday's closes: CLV6
+2.12 (+4.66%), RBV6 +0.0701 (+5.21%). Oct crude oil and gasoline on Thursday
rallied to 1-week highs and closed sharply higher. Crude oil prices were
boosted by the -14.51 million bbl plunge in EIA crude
inventories to a 6-1/2 month low (the biggest decline since Jan 1999) and the -4.21million bbl decline in EIA
gasoline stockpiles to an 8-1/4 month low, more than expectations of -750,000 bbl.The Total Investment & Insurance Solutions
US aviation body warns against charging Samsung Note 7 on planes -The Total Investment & Insurance Solutions
Contact Your Financial Adviser Money Making MC
9
September 2016
Concerned over the growing battery explosion
fears in Samsung's premium device Galaxy Note 7, the US Federal Aviation
Administration (FAA) has issued a warning not to charge or switch on Note 7 on
board aircraft. The Total Investment
& Insurance Solutions
"In light of recent incidents and
concerns raised by Samsung about its Galaxy Note 7 devices, the Federal
Aviation Administration strongly advises passengers not to turn on or charge
these devices on board aircraft and not to stow them in any checked
baggage," the FAA said in a statement on Friday.
The strong warning came at a time when the
south Korean giant is dealing with the global recall of nearly 2.5 million
Galaxy Note 7 shipped so far across the world.
Three Australian airlines have already barred
passengers from using or charging the smartphones during flights. The Total Investment & Insurance
Solutions
"Qantas and Virgin Australia have told
passengers not to turn on Note 7 or charge them on flights," NBC News
reported. The Total Investment &
Insurance Solutions
"On board announcements are being made
prior to departure to inform all guests," Virgin Australia said in a
statement. The Total Investment &
Insurance Solutions
An Australian man was left with burns when
his Samsung smartphone "exploded" as he slept in his hotel room. The Total Investment & Insurance
Solutions
Tham Hua, from Victoria state who was
visiting Western Australia, said his Samsung Galaxy Note 7 exploded in his
hotel room, bursting into flames, Xinhua news agency reported on Wednesday.
"My brand new Note 7 exploded this
morning while I was still asleep, it was plugged in and charging," Hua
posted on a technology forum. The Total
Investment & Insurance Solutions
"Phone completely fried... (Samsung)
told me this is the first case in Australia.
"(It) charred the hotel room bed sheet
and the carpet when I whacked it down to the floor, burnt one of my fingers
while doing that too." The Total
Investment & Insurance Solutions
Hua said the accident caused $1,300 worth of
damage to his hotel room which Samsung offered to cover.
"Samsung Electronics Australia advises
all customers who use a Galaxy Note 7 smartphone to power down their device,
return it to its place of purchase and use an alternative device until a remedy
can be provided," Samsung said in a statement. The Total Investment & Insurance Solutions
As part of its global recall of Galaxy Note 7
after reports of battery explosion surfaced, Samsung Australia has formally
recalled 51,060 such devices. The Total
Investment & Insurance Solutions
More than 35 cases of the exploding battery
defect have been reported since the phone, which retails for $1,035, was
launched on August 19.The Total
Investment & Insurance Solutions
Karnataka protests Cauvery water order with day-long shut-down -The Total Investment & Insurance Solutions
Contact Your Financial Adviser Money Making MC
9
September 2016
Karnataka is protesting the state
government's release of Cauvery river water to Tamil Nadu, based on a Supreme
Court directive, with a shut down on Friday. The Total Investment & Insurance Solutions
The day-long protest is being spearheaded by
as many as 500 pro-Kannada organisations, which represent sections including
farmers, traders and businesses. Security has been stepped up and more forces
have been deployed across the state. The
Total Investment & Insurance Solutions
Government offices will remain open, but
public transport, including metro services, will not ply. Banks, shops,
markets, malls, hotels, bars, pubs, eateries, restaurant, theatres and petrol
bunks will also remain closed during the day, officials said. The Total Investment & Insurance
Solutions
Essential supplies, including milk and
medicines, thought, have been exempted from the shutdown. Ambulances will be
allowed to ferry patients to hospitals.
Bowing to the apex court's Monday order, the
state began releasing 15,000 cusecs of water daily from early Wednesday from
its reservoirs across the river basin for 10 days amid protests and
demonstrations by farmers, traders and the youth in the Mysuru region.The Total Investment & Insurance
Solutions
Flexi fare pricing on 'experimental basis', say Railway officials -The Total Investment & Insurance Solutions
Contact Your Financial Adviser Money Making MC
9
September 2016
The flexi fare pricing of railway tickets in
three premium trains is on an "experimental basis", senior officials
of the Railway Ministry said on Thursday, as political parties criticised the
hike and demanded its roll back. The
Total Investment & Insurance Solutions
"Flexi fare pricing is on experimental
basis," a senior official of the Ministry told IANS requesting anonymity. The Total Investment & Insurance
Solutions
"We will check what is the impact of the
flexi fare pricing in the Rajdhani, Shatabdi and Duranto express and then a
decision would be taken after study of the impact on passengers," the
official added.
The officer said that the three trains
together ferry only about .6 per cent of the total 2.3 crore passengers that the
Railways carries every day. The Total
Investment & Insurance Solutions
"We run about 12,000 passenger trains
everyday, but this flexi fare pricing is implemented only on 152 trains,"
the officer added. The Total Investment
& Insurance Solutions
The officer also said the flexi pricing move
was based on the travel experience of passengers on select trains that are
highly patronised. "We couldn't have experimented it on any other trains
as it would have affected a number of people," the official added.
"We could not have implemented it on the
executive class too as the fares would have become comparable to air
fares," the officer said.
The officer said that the surge pricing would
also help stabilise the tatkal quota ticket prices, which earlier would be
higher under the premium tatkal quota.
The Railways on Wednesday announced to
implement the flexi fare pricing on the Rajdhani, Shatabdi and Duranto express
trains from September 9. The Total
Investment & Insurance Solutions
Nifty, Sensex highly overbought – Weekly closing report-The Total Investment & Insurance Solutions
Contact Your Financial Adviser Money Making MC
9 September 2016
I had mentioned
in last week’s closing report that Nifty, Sensex have bucked the weakness, and
headed higher. The major indices of the Indian stock markets have been on an
upswing since Tuesday, but have not sustained all the gains. On Friday, the
market was bearish with losses of around 0.85%-0.96% over Thursday’s close.
Over the week, the major indices have closed with small gains. The trends of
the major indices in the course of the week’s trading are given in the table
below:
The Total Investment & Insurance Solutions
 |
Weekly Closing Report (The
Total Investment & Insurance Solutions)
Positive global cues and healthy
inflow of foreign funds pushed the Indian equity markets to a striking distance
of all-time highs by the end of the session on Tuesday as healthy buying was
witnessed in all the 19 sub-indices of the BSE, led by stocks of banking,
automobile and consumer durables. The BSE market breadth was tilted in favour
of the bulls -- with 1,624 advances and 1,126 declines. On the NSE, on Tuesday,
there were 938 advances, 524 declines and 60 unchanged. The Indian stock
markets were closed on Monday on account of Ganesh Chaturthi. The Total Investment
& Insurance Solutions
Reliance Capital, a part of the
Anil-Ambani-led group, on Tuesday said it has raised $300 million through
private placement of debentures with tenures of 5 and 10 years. "The issue
size offered was $ 150 million with an option to retain oversubscription by way
of a greenshoe option of up to $150 million). The issue was fully subscribed,
including the greenshoe option, and will be listed," the company said in a
regulatory filing. The company’s shares closed at Rs558.00, up 2.46% on the
BSE.
The Total Investment & Insurance Solutions
Profit booking subdued the Indian
equity markets on Wednesday, as the key indices closed the day's trade on a
flat note. Selling pressure was witnessed in consumer durables, oil and gas,
and finance stocks. The BSE market breadth was tilted in favour of the bulls --
with 1,404 advances and 1,356 declines. On the NSE, there were 801 advances,
807 declines and 68 unchanged.
State-run power equipment
manufacturer Bharat Heavy Electricals (BHEL) on Wednesday reported a rise of
54.21% in its standalone net profit for the first quarter of 2016-17. The
company's Q1 net profit stood at Rs77.77 crore from Rs50.43 crore reported in
the corresponding quarter of 2015-16. The company posted a net profit after
three consecutive quarters of losses. BHEL’s total income from operations for
the quarter under review increased by 28.72% to Rs5,622.46 crore from
Rs4,367.70 crore for the corresponding period of last fiscal. Its net sales
edged up by 29.03% to Rs5,522.76 crore from Rs4,280.02 crore during the first
quarter of 2015-16. According to the company, it has an outstanding order book
position of Rs108,000 crore at the end of Q1 2016-17. The company’s shares
closed at Rs159.80, up 15.50% on the BSE. The Total Investment & Insurance
Solutions
Healthy quarterly results,
consistent buying by foreign funds and a rise in global crude oil prices buoyed
the Indian equity markets on Thursday. The key indices closed the day's trade
in the green as healthy buying was witnessed in stocks of healthcare,
automobile and consumer durables. However, gains were capped due to profit
booking at higher levels and caution ahead of a key global financial event. The
BSE market breadth was tilted in favour of the bulls -- with 1,608 advances and
1,151 declines. On the NSE, on Thursday, there were 905 advances, 552 declines
and 68 unchanged.
The Total Investment & Insurance Solutions
ICICI Bank on Thursday became the
first bank in India to deploy ‘software robots that emulate human action, in
its over 200 business processes thereby reducing the response time to customers
by up to 60%. "We have re-engineered over 200 business processes which are
powered by software robots across various functions of the bank. We plan to
more than double the software robots to over 500 by end of this fiscal,"
Chanda Kochhar, MD and CEO, ICICI Bank, said.
According to the Federal Reserve’s
Beige Book released in the afternoon, reports from the twelve Federal Reserve
Districts suggest that national economic activity continued to expand at a
modest pace on balance during the reporting period of July through late August.
"Labour market conditions remained tight in most districts, with moderate
payroll growth noted in general. Price increases remained slight overall,"
said the Beige Book. The Fed has been in focus recently, with investors
pondering over when the US central bank will decide to raise interest rates.
The Federal Open Market Committee, the Fed's monetary policy arm, is set to
meet on September 20-21. On the economic front, the number of job openings
increased to 5.9 million on the last business day of July, the US Labour
Department reported on Wednesday.
Profit booking, coupled with
negative global markets and lower crude oil prices, dragged down the Indian
equity markets during the mid-afternoon trade session on Friday. The BSE market
breadth was tilted in favour of the bears -- with 1,470 declines and 1,113
advances. Initially on Friday, the benchmark indices opened in the red due to
negative Asian markets. Besides, caution ahead of the release of key
macro-economic data such as the factory output -- Index of Industrial
Production (IIP) -- for July and inflation figures for August weighed heavy on
the indices. In addition, depreciation in the rupee's value dampened investors'
sentiments. Negative global markets due to ECB's (European Central Bank)
decision not to inject more liquidity and profit booking led the equity markets
to trade lower, pointed out market analysts.The Total Investment
& Insurance Solutions
Thursday, 8 September 2016
Global Markets & News-The Total Investment & Insurance Solutions
Contact Your Financial
Adviser Money Making MC
8 September 2016
OVERNIGHT MARKETS AND NEWS
Sep E-mini S&Ps (ESU16 +0.06%) are up +0.07% at a 2-week high
and European stocks are down -0.06% ahead of today's ECB meeting and press
conference from ECB President Draghi. The markets will look to see if Draghi
extends QE past this year or whether the ECB may include bank bonds in their
asset purchase program. A +1.63% rally in crude prices (CLV16 +1.69%)
is giving energy producing stocks a lift after API data late yesterday showed
U.S. crude inventories plunged -12.1 million bbl last week. Asian stocks
settled mixed: Japan -0.32%, Hong
Kong +0.75%, China +0.13%, Taiwan +0.04%, Australia -0.71%, Singapore +0.03%, South Korea
+0.21%, India +0.41%. Chinese stocks received a boost after trade data from
last month showed export declines moderated and imports unexpectedly grew at
the fastest pace in 1-3/4 years.
The dollar index (DXY00 -0.32%) is down -0.32% at a 1-1/2 week low. EUR/USD (^EURUSD) is up +0.48% at a 1-1/2 week high.
USD/JPY (^USDJPY) is down -0.11%.
Dec T-note prices (ZNZ16 -0.04%) are down -1 tick.
Japan Q2 GDP was revised higher to +0.7% (q/q annualized) from the
previously reported +0.2% (q/q annualized).
The China Aug trade balance unexpectedly shrunk to a surplus of +$52.05
billion, a smaller surplus than expectations of +$58.85 billion. Aug exports
fell -2.8% y/y, a smaller decline than
expectations of -4.0% y/y. Aug imports unexpectedly rose
+1.5% y/y, stronger than expectations of -5.4% y/y and the biggest increase in 1-3/4
years. The Total Investment &
Insurance Solutions
Key U.S. news today includes: (1) weekly initial unemployment claims
(expected +2,000 to 265,000, previous +2,000 to 263,000) and continuing claims
(expected -8,000 to 2.151
million, previous +14,000 to 2.159 million), (2) Jul consumer credit (expected
+$16.00 billion, Jun +$12.32 billion), and (3) EIA Weekly Petroleum Status
Report.
Russell 1000 companies that report earnings today: Donaldson (consensus
$0.49), Santander Consumer USA Holdings (0.68).
U.S. IPO's scheduled to price today: none.
Equity conferences during the remainder of this week include: Citi
Global Technology Conference on Tue-Thu, Barclays CEO Energy Power Conference
on Tue-Thu, Barclays Global Consumer Staples Conference on Tue-Thu, Barclays
Back-to-School Conference on Tue-Thu, Goldman Sachs Global Retailing Conference
on Wed-Thu, Drexel Hamilton Technology, Media and Telecom Conference on
Wed-Thu, Keefe, Bruyette, & Woods Insurance Conference on Wed-Thu, Goldman
Sachs Financial Technology Conference on Thu, Evercore ISI Real Estate
Conference on Thu, Gabelli & Company Aircraft Supplier & Connectivity
Conference on Thu. The Total Investment
& Insurance Solutions
Nike (NKE +0.54%) was downgraded to 'Neutral'
from 'Overweight' at Piper Jaffray.
Pier 1 (PIR +3.23%) tumbled 12% in pre-market
trading after it reported a preliminary Q2 loss of -5 cents
to -6 cents a share, weaker than consensus
of-3 cents, and the CEO Alex
Smith said he will step down effetive Dec 31.
AutoNation (AN +2.10%) was rated a new 'Buy' at CL
King with a 12-month target price of $57.
Wingstop (WING -0.80%) was rated a new 'Overweight'
at Keybanc Capital Markets with a 12-month price target of $36.
Apple (AAPL +0.61%) was downgraded to 'Market
Perform' from 'Outperform' at Wells Fargo Securities.
Tailored Brands (TLRD +3.04%) jumped over 10% in after-hours
trading after it reported Q2 adjusted EPS of 99 cents, higher than consensus of
93 cents.
Guidewire Software (GWRE +0.60%) fell nearly 6% in after-hours
trading after it lowered guidance on full-year EPS to 69 cents-79 cents, weaker than consensus of 84
cents.
Tractor Supply (TSCO -0.02%) slumped over 9% in after-hours
trading after it cut its full-year EPS outlook to $3.22-$3.26 from a prior view
of $3.35-$3.40.
Sage Therapeutics (SAGE +1.03%) dropped nearly 6% in
after-hours trading after it announced a $150 million public offering of common
stock.
Hewlett Packard Enterprise (HPE +1.05%) lost nearly 2% in after-hours
trading after it said it will spin off some of its software assets and merge
them with Micro Focus.
Abeona Therapeutics (ABEO +2.13%) climbed over 4% in after-hours
trading after Cantor Fitzgerald rated the stock a new 'Buy.'
Bazaarvoice (BV +4.60%) gained 3% in after-hours
trading after it reported Q1 adjusted EPS at breakeven, better than consensus
for a -4 cent loss.
Repros Therapeutics (RPRX -2.56%) surged 40% in after-hours
trading after the company said its Proellex drug cut menstrual pain in a Phase
2 trial versus a placebo.
Netlist (NLST -2.84%) tumbled 14% in after-hours
trading after it said it will offer $15 million in common stock. The Total Investment & Insurance
Solutions
Sep E-mini S&Ps (ESU16 +0.06%) this morning are up +1.50
points (+0.07%) at a 2-week high. Wednesday's closes: S&P 500 -0.01%, Dow Jones-0.06%, Nasdaq
+0.05%. The S&P 500 on Wednesday closed slightly lower on weakness in
consumer-staple companies, led by a -13% drop in Sprouts Farmers Markets after
the company cut its profit outlook. Stocks were also undercut by the sharp
+228,000 increase in U.S. Jul JOLTS job openings to a record 5.871 million,
which bolstered the case for the Fed to raise interest rates. Stocks recovered
in the early afternoon when the Fed's Beige Book said the U.S. economy grew at
a modest pace and price increases "remained slight overall."
Dec 10-year T-notes (ZNZ16 -0.04%) this morning are down -1 tick.
Wednesday's closes: TYZ6 unch, FVZ6 -0.25. Dec T-notes on Wednesday closed little
changed. T-notes were supported by weaker stocks and by carryover support from
a rally in German bunds to a 1-3/4 month high ahead of Thursday's ECB meeting.
T-notes were undercut by news that U.S. Jul JOLTS job openings rose to a record
5.871 million, which bolstered the case for a Fed rate hike.
The dollar index (DXY00 -0.32%) this morning is down -0.308 (-0.32%) at a 1-1/2 week low. EUR/USD
(^EURUSD) is up +0.0054 (+0.48%) at 1-1/2 week
high. USD/JPY (^USDJPY) is down -0.11 (-0.11%). Wednesday's closes: Dollar
index +0.133 (+0.14%), EUR/USD -0.0016 (-0.14%), USD/JPY-0.28 (-0.27%). The dollar index on
Wednesday closed higher on signs of U.S. labor market strength that may prompt
the Fed to raise interest rates after U.S. Jul JOLTS job openings rose to a
record high. In addition, there was weakness in EUR/USD after German Jul
industrial production unexpectedly fell -1.5% m/m, the largest decline in 23 months.
Oct crude oil (CLV16 +1.69%) this morning is up +74 cents
(+1.63%) and Oct gasoline (RBV16 +1.84%) is up +0.0267 (+1.98%).
Wednesday's closes: CLV6 +1.31 (+2.92%), RBV6 +0.0456 (+3.46%). Oct crude oil
and gasoline on Wednesday closed higher on the increase in Jul JOLTS job
openings to a record high, which signals strength in the labor market that may
fuel economic expansion and energy demand. Oil prices were undercut by the
EIA's hike in its U.S. 2016 oil production estimate to 8.77 million bpd from
8.73 million bpd and by expectations for Thursday's EIA crude inventories
report to show an increase of +1.0 million bbl.The Total Investment & Insurance Solutions
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