Market Commentary March 26, 2019

The Trading Daily Market Commentary features a summary of selected market segments as well as economic matters. Its content of interest is made available to all traders and investors at large

The market sell-off observed on Friday session saw a lack of apparent lack of direction over the trading day yesterday. The main indices used the day hopping back and forth in the opposite direction of the unchanged mark before the market closed the day on the mixed side.

The main indices completed the session small. The DJI inched up  0.1 percent to finish at 25,517, the Nasdaq 100 slid 0.1 percent as well to close at 7,317, and the broad S&P 500 index edged downwards also about 0.1 percent to conclude at 2,798.

However, The small-cap Russell 2000 index was the bright spot on the day outperforming other main indexes on Monday, inching up 0.46% to finish the day at 1513 marks.

It was a rough market American session came as traders and investors looked hesitant to execute more important moves between a relatively calm trading day on the American economic front.

The economic data on consumer confidence, personal income, and spending, pending home sales, housing starts, as well as the new home sales will be likely to draw in attention in the following trading days this week.

We did want to consider several news highlights arising out of Apple company announced yesterday. The Apple plans to issue its very own credit card, named the 'Apple Card,' that will necessarily work from the Apple Wallet application, as well as tied to Apple Pay.

This could be very exciting to the Apple long-term strategy if they can secure a meaningful percent of their paying customers base for the services via the Apple Card scheme.

Separately, Apple proclaimed plans for Apple News, offering bundled news and magazines which includes Wall Street Journal, and Los Angeles Times, besides, streaming services from Starz and Home Box Office (HBO) and others.

Although this could determine crucial importance in the company’s presence, the Apple stock faded yesterday by 1.21 percent to close at $189 - after a renowned run-up coming from over $157 price in January this year to just over $190 price per share at the previous week.

Other Stock Market(s)

The equity market(s) across the Asian-Pacific sector shifted much lower throughout the trading session on Monday. The core Shanghai index declined minus 1.97 percent to close at 3,043, the H.K. Hang Seng Index fell by 2 percent, while Japan Nikkei225 stock index plunged by 3 percent.

The Aussie ASX200 index nosedived 1.11 percent to finish at 6,126, the South Korea Kospi index slumped 42 points or minus 1.92 percent closing at 2,145, and Indian Sensex slid 356 points or 0.93 percent to wrap up at 37,809 the day.

The significant Eurozone stocks showed a bit more moderate moves to the negative side of the session. The U.K. FTSE100 stock index declined by 0.4 percent, the German DAX30 stock index and the French CAC40 stock index dipped by 0.2 percent each.

On the bond market front line, the US Treasuries continued the rally following the last week session momentum. Consequently, the yield on the benchmark of the 10-year note, which flows counter of its price, fell by 3.5bp to a more than the one-year posting a low of 2.420 percent.

Crude Oil And Precious Metals 

The crude oil market had a jumbled day on Monday, with WTI crude oil settling $0.15 lower or 0.25 percent to close at  $58.81. Both Gold and Silver metal markets had a green session on Monday. Gold progressed $8.54  or 0.65 percent to post at $1,322, while Silver rose $0.15 or 0.94 percent to finish the day at $15.56.

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