US housing starts in September hit a one-year low, and construction permits were bleak.
The Fed's Beige Book shows that the upward trend of wages is still moderate, and the US dollar index fell to an intraday low.
Trump's position suddenly reversed, did not support the latest medical reform agreement, and the medical insurance sector fell back.
The media said that OPEC intends to extend the production reduction agreement for nine months, and the US crude oil inventories hit the largest decline in more than five years.
After the opening price rose 43%, the store fell back to the New York Stock Exchange and closed up 23% on the first day.
The black night plate fell on Wednesday and the coke fell more than 5%.
Less than a day mad at $500, Bitcoin hit the biggest intraday decline this month.
Hot spot
In the morning, the US Department of Commerce data released that the United States started 1.127 million new homes in September, a new year low, lower than the expected 1.175 million. The US construction permit in September was 1.215 million, a four-month low, lower than the expected 1.45 million.
In the afternoon, the Federal Reserve issued a Beige Book saying that the economy of all 12 districts in the United States from September to October expanded on the occasion of “the labor market generally became tightâ€. Although the US labor market is tight and there are shortages of employees in some industries, the salary pressure is only mild to moderate.
After the data was released, the USD/JPY traded near 112.95, maintaining a gain of approximately 0.66%. Spot gold maintained a decline of about 0.3%, temporarily reported at 1281.7 US dollars / ounce. The US dollar index fell 0.12%, and the refresh rate was as low as 93.374.
In the morning, Reuters quoted sources as saying that OPEC is inclined to extend the agreement on crude oil production between Russia and other oil-producing countries for another nine months. If demand grows well, it may delay OPEC until the beginning of next year. But the discussion of extending the topic in November is still a high probability event. However, after the news, Brent crude oil reaction was flat, reported at 58.34 US dollars / barrel, up 0.8% within the day.
Subsequently, according to the official statistics of the US Energy Information Administration (EIA), the US EIA crude oil inventories fell by 5.731 million barrels in the week of October 13, the largest decline in more than five years. However, the increase in refined oil inventories exceeded expectations. WTI crude oil rebounded after falling by 0.3 US dollars in short-term, and the gains narrowed to 0.4%, to 52.09 US dollars / barrel. The cloth oil fluctuated slightly by 0.2 US dollars, and the increase was maintained at 0.7%, which was reported at 58.30 US dollars per barrel.
WTI November crude oil futures closed up 0.16 US dollars today, or 0.31%, to 52.14 US dollars / barrel. Brent December crude oil futures closed up 0.27 US dollars, or 0.47%, to 58.15 US dollars / barrel.
Reuters quoted sources as saying that OPEC is inclined to extend the agreement on crude oil production between Russia and other oil-producing countries for another nine months. If demand grows well, it may delay OPEC until the beginning of next year. But the discussion of extending the topic in November is still a high probability event.
China's black commodity futures closed lower on the third trading day. On Wednesday night's trading, coke fell more than 5%, coking coal fell nearly 4%, rebar fell more than 3%, and iron ore that closed up slightly in the day fell more than 3%.
Since the end of September this year, the black futures varieties have been greatly adjusted. As of the close of the third night of this week, the coking coal and coke main contracts have fallen more than 20% and 30% since September 12, respectively, and the rebar main contract fell more than 10% from the September 4 high.
Bitcoin once approached $5,100 in intraday trading on Wednesday, falling more than $500 from the Asian high, and falling more than 8% in the day, the biggest one-day drop this month, after which the decline narrowed. According to the coindesk data platform, Bitcoin is currently reporting around $5,500.
The media believes that the latest bad news is that the US Treasury Commodity Futures Commission (CFTC) said it can include bitcoin in commodity regulation. The CFTC pointed out in an overview of asset classes published on Tuesday in the US time that virtual tokens for ICO financing can be included in the regulatory scope of the CFTC. According to US media, this means that Bitcoin may face regulatory scrutiny, a prospect that affects market sentiment.
stock market
The Dow closed above the psychological level of the 23,000-point integer, and the IBM earnings report helped the S&P to hit a record high. The S&P 500 index closed up 1.90 points, or 0.07%, to 2,561.26 points. The Dow Jones Industrial Average closed up 160.16 points, or 0.70%, to 23,157.60, the 51st closing high in 2017. The Nasdaq Composite Index closed up 0.56 points, or 0.01%, to 6624.22 points.
IBM's biggest one-day gain in eight years, the Dow stood on the 23,000-point mark, and IBM rallied 8.86%, which was the biggest one-day gain since 2009, at $159.53, but it still fell 3.89% so far in 2017. After the close, it rose 0.09%. The third-quarter earnings released earlier were better than expected. The company hinted that sales will increase in the fourth quarter; Intel closed up 1.16% and Boeing closed up 0.6%.
Significant progress has been made in the health care reform on Tuesday. The two parties in the Senate have cooperated for the first time since last year, and have reached an agreement on the small amount of funds to stabilize the Obamas' “health cost reduction†(CSR). It has also received support from Trump. But today Trump is the latest "outcome" of the Senate: the attitude of the two-party-supported medical reform amendments reappears, and the House Republican leaders also express their opposition, and the road to success in the US medical reform is far from indefinite.
Affected by this news, the S&P 500 healthcare index fell from its intraday high, and the gains narrowed to 0.16% to close at $963.46. The Nasdaq Biotech Index IBB quickly fell sharply from its 2015 high and closed down 0.64% today at $335.97.
US technology stocks generally closed down, Google parent company Alphabet closed up 0.17%, Amazon closed down 1.2%, Apple closed down 0.44%, Facebook closed down 0.05%, Microsoft closed up 0.03%, Netflix closed down 1.98% and fell 0.13% NVIDIA closed down 0.09%, Qualcomm closed down 0.38%, and Tesla closed up 1.1%.
At 10:50 on the morning of the US East, the fun store landed on the New York Stock Exchange, and the opening price was reported at 34.35 US dollars, up 43.13%. The gains subsequently fell back, closing up 23% and falling 0.49% after the close. Earlier this month, the store set the IPO price range to $19 to $22 per share. This means that the fun shop is the fourth largest IPO in the US this year. Today, the store announced that the IPO issue price will be set at $24 per share, which is higher than the issue price range of $19 to $22 per share. The store will issue 37.5 million American Depositary Shares (ADS) in this IPO. In addition, the underwriters have been granted a maximum of 5,625,000 over-allotment rights. The underwriters of the store IPO are Morgan Stanley, Credit Suisse, Citigroup, CICC and UBS.
European stocks closed a four-month high, the German stock index hit a record high, thanks to the euro weak. The FTSE Pan-European Excellence 300 Index closed up 0.30% to 1539.83 points, the highest since June 19. The European STOXX 600 index closed up 0.29% to 391.56 points, also hit a new high since June 19; the Eurozone blue-chip best-performing STOXX 50 index closed up 0.33%. The German DAX 30 index closed up 0.37% to hit 13043.03 points, setting a new record high.
commodity
WTI November crude oil futures closed up 0.16 US dollars, or 0.31%, to 52.14 US dollars / barrel. Brent December crude oil futures closed up 0.27 US dollars, or 0.47%, to 58.15 US dollars / barrel.
COMEX December gold futures closed down 3.20 US dollars today, down 0.3%, to 1,283 US dollars / ounce.
COMEX December copper futures closed down 0.6% at $3.178 per pound.
Copper fell, and optimistic demand is expected to limit the decline. Copper fell 0.5% to $6,990/ton, off the Monday high of $7,177/ton since July 2014.
Lun aluminum closed down 0.9% at $2,120/ton. Zinc zinc closed up 1.2% to $3,127/ton, down about 6% from the intraday high of the previous 10 years at $3,300/ton earlier in October. Lun lead closed up 1.2% at $2522/ton. Lunxi closed down 1.3% to $20080/ton. Nickel closed down 1.0% at $11,645/ton.
The black line closed down, coke closed down 5.3%, coking coal and thermal coal fell 3.9% and 0.8% respectively; iron ore closed down 3.4%. Rebar and hot rolled coils closed down 3.2% and 3.5% respectively.
Foreign exchange
The US dollar index fell 0.1% today to 93.41, and the intraday refresh rate was as low as 93.36.
USD/JPY rose 0.64% today to 112.92, hitting a high of 113.05.
The euro rose 0.23% against the dollar today at 1.1793, and it was up to 1.1806.
The pound against the dollar rose 0.11% today to 1.3204.
Onshore renminbi (CNY) closed at 6.6271 yuan against the US dollar at 23:30 Beijing time, down 21 points from Tuesday night's closing price; the daily trading volume was 27.287 billion US dollars, down by 1.027 billion US dollars from Tuesday.
Offshore Renminbi (CNH) was quoted at 6.6192 yuan against the US dollar at 04:59 Beijing time, down 128 points from late Tuesday in New York.
Bond market
The yield on US Treasury bonds for the biennium was the highest since 2008, and the difference in yields with comparable German bonds was the largest in the last 17 years. In late New York on Wednesday, the yield on the US 10-year benchmark government bond rose by 4.67 basis points to 2.3465%. The yield on the 30-year US bond rose by 5.43 basis points to 2.8566%. The US Treasury yield rose by 1.66 basis points to 1.5629%, which was the highest in New York since October 30, 2008 (the late New York reported 1.5637%). The European market has been refreshed since November 3, 2008. The intraday high was at 1.5670%. The five-year US bond yield rose by 3.51 basis points to 1.9933%.
(Editor: Liu Xiaoman HF108)
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