Wall Street dragged lower by tech sector
A weak tech sector led US indices lower yesterday on reports Apple is reducing production of its iPhone handsets. European indices remain pressured by Brexit sentiment. Asian bourses look set for a weaker open today.
NAS100USD Weekly Chart
The NAS100 index fell the most since October 24 to hit a three-week low
The 200-week moving average is at 6,352.5 and the index has traded above this average since June 2016
US housing starts and building permits for October are due today. Yesterday, the Oct NAHB housing index hit a two-year low, suggesting the housing market will continue to lag the rest of the US economy.
DE30EUR Monthly Chart
The Germany30 index fell for a second day yesterday as the cloudy future for Brexit damps sentiment. The index fell to a three-week low
The index is still sitting on the 55-month moving average at 11,219
German producer prices are seen rising at a faster annual pace in Oct, data today may show. Forecasts suggest a 3.3% gain but a sharper increase could pile more pressure on the index.
HK33HKD Daily Chart
The HongKong33 index fell for the first time in three days yesterday, echoing sentiment in China shares as the US-China trade war appeared to be escalating after weekend news
The index once again failed to clear the 55-day moving average. This average has capped the index on a closing basis since June 11
Hong Kong October consumer price data are due today. Prices rose 2.7% in September.
