Market Review 6-6

Market Review 6-6

Apple shares hit record on first day of developer conference

 

By Chloe Aiello | @chlobo_ilo

 

  • Apple shares hit an all-time high on Monday, as tens of thousands of developers flocked to San Jose, California, for WWDC.
  • The stock rose as high as $193.42 per share and is up about 24 percent in the past year.

 

All three of the world’s most valuable publicly traded companies climbed to records on Monday, with Amazon and Microsoft also claiming new highs. The three tech companies are now worth a combined $2.5 trillion.

 

Apple announced several features and upgrades, including a new operating system iOS 12, a new augmented reality toolkit in partnership with Adobe, and new features for combating tech addiction.

 

https://www.cnbc.com/2018/06/04/apple-shares-hit-record-on-first-day-of-developer-conference.html

 

 

 

Natural Gas Price Fundamental Daily Forecast – Weather Concerns Limiting Gains, Tight Supply Still Supportive

 

By James Hyerczyk

 

Brief rallies are possible over the short-run, but cash market supply is probably not tight enough to sustain a rally over $3.00.

 

Natural gas futures plunged on Monday as investors took profits in response to forecasts for cooler temperatures that could lead to lower demand over the next 10 to 14 days. There was no evidence of speculative shorting because bullish seasonality and slightly tighter-than-expected storage data are preventing investors from turning too bearish. However, we may have seen some real hedging.

 

https://www.fxempire.com/forecasts/article/natural-gas-price-fundamental-daily-forecast-weather-concerns-limiting-gains-tight-supply-still-supportive-507371

 

 

 

Oil prices bounce on prospect of fall in US inventories

 

By JANE CHUNG

 

Oil prices rebounded on Tuesday, after falling in the previous session, on expectation that inventories in the US may decline.

 

However, increasing US production and concern that Opec may raise output continued to weigh on sentiment.

 

Brent crude futures added 14c or 0.19% to $75.43 a barrel at 3.01am GMT, after settling 2% lower at $75.29 on Monday.

 

US West Texas Intermediate (WTI) crude was up 32c or 0.49% at $65.07 a barrel. It finished the previous session 1.6% lower at $64.75.

 

https://www.businesslive.co.za/bd/markets/2018-06-05-oil-prices-bounce-on-prospect-of-fall-in-us-inventories/

 

 

Gold Price Continues to Battle the Downtrend; G7 Ahead

 

By Nick Cawley

 

Gold’s chart points to lower prices.

 

Retail investors remain heavily long of the precious metal – are they right?

 

While the chart points to lower prices, gold bulls may find some reprieve if the ongoing US trade war flares up again, sending investors into risk-adverse assets like gold, CHF or JPY. G7 finance ministers recently criticized the Trump’s administration’s actions, and may well repeat their call to rescind the tariffs at the G7 annual summit on June 8-9. Any escalation from either side may well prompt a move back into the precious metal.

 

https://www.dailyfx.com/forex/market_alert/2018/06/05/Gold-Price-Continues-to-Battle-the-Downtrend-G7-Ahead.html

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