GT's weekly report and upcoming data Days since Feds last rate...

GT's weekly report and upcoming data

Days since Feds last rate raise 3376 days – I will keep counting till it happens!

Aussie Market

After several changes in direction the sharemarket closed lower on Friday, not far from the day's low.

For the week, the ASX200 lost 2.5 per cent.

Market continues to be range bound between 5000 and 5200, question is where is the new move?

For all of us that trade specs the market has still been very good IMO – plenty of runners to be had J

US market

U.S. stocks ended the week with a whimper, turning big opening gains in the S&P 500 and Nasdaq Composite into losses by the conclusion of Friday's session.

"A selloff in biotechs took the wind out of the rally. And in this low-volume environment traders are selling first and asking questions later," said Ryan Larson, head of equity trading, U.S. RBC Global.

The iShares Nasdaq Biotechnology ETF (IBB) plunged 4.9%, wrapping a bruising week for the sector with a 13% weekly loss. The S&P 500 health-care sector lost 5.8% over the week and closed below the lows reached on Aug 24.

"The health-care sector closed below the Aug. 24 lows. It does not bode well for sentiment when a former leader in the market is now leading on the downside," Larson said.

The S&P 500 booked a 1.4% weekly loss. Utilities, consumer staples and financials booked weekly gains, as investors turned to defensive sectors.

The Dow Jones Industrial Average declined 0.4% over the week. Caterpillar Inc (CAT) led laggards this week, posting a 9.6% loss as the machinery giant plans to lay off 10,000 employees by end of 2018.

The Nasdaq Composite posted a 2.9% weekly loss. Biotechs weighed heavily on the index, as the sector got hammered this week.

The main indexes declined in six of the past seven sessions, since the Federal Reserve left its key borrowing rate unchanged on Sept 17, citing concerns over slowing global growth.

Earlier on Friday sharp gains were attributed to optimism after Federal Reserve Chairwoman Janet Yellen's hawkish comments late Thursday, when she said the economy is strengthening and an interest-rate hike is likely before the end of the year.

Stock markets in Europe rallied after Janet Yellen's comments, with the benchmark index closing 2.8% higher.

"Prospects for the U.S. economy generally appear solid," Yellen said in a speech after U.S. markets had closed. Signs of weak growth overseas won't prove large enough to have a significant impact on policy, the Fed chairwoman said in remarks that were briefly upstaged when she faltered and appeared to feel ill.

Data for the week

Quite as busy week for data as you can see below, again China data on Thurs could dictate the week, plus a lot of data for the FED to look at in regards to the next feds funds rate decision.


Hope all have a successful and profitable week!