City 4
  • U.S. stocks and bond yields jumped at the start of the fourth quarter after the U.S. and Canada reached a last-minute deal to revise the North American Free Trade Agreement (NAFTA).
  • U.S. crude prices rose to their first multiyear high in more than three months as investors anticipate supply shortages.

Crude prices Nymex, ICE October 3


5 day returns to 2 October 2018

  Local currency AUD currency
S&P +0.18% +0.51%
NASDAQ +0.55% +0.88%
Europe +0.11% -1.02%
Nikkei +1.57% +0.90%
Hong Kong +1.13% +1.27%
China +3.89% +4.05%
ASX -0.24% -0.24%
WTI Oil 75.65 (H) 104.79
AUD/USD 72.24 N/A
Treasury (10 year) 3.08% N/A

Notable economic stats this weekNotable US economic stats October18


Vue movers

Tesla (NASDAQ: TSLA)

Tesla shares were much higher today (+17.35% to $US310.70) on SEC settlement with Elon Musk over his misleading tweets that implied he was taking the company private. Musk will resign from his Chairman role but remains CEO.

Tesla is held in our Car of the Future Vue.


NVIDIA (NASDAQ: NVDA)

NVIDIA shares (+2.97% to US$289.36) hit an all-time high after positive comments from broker Goldman Sachs.

Goldman said in a published note that it sees tremendous growth opportunities led by its new Turing architecture and inference capabilities. According to Goldman, NVIDIA’s gaming business is on the verge of accelerating as its benefits from the introduction of its Turing-based products. The bank also expects the introduction of the Tesla T4 chip for servers and TensorRT software to boost inference capabilities in data centers.

NVIDIA is up 44% this year and is held in our Artificial Intelligence Vue.


Asset class performance

As we move into the fourth Quarter of 2018, it’s interesting to note what worked in the third Quarter and what didn’t. (note these numbers are all in USD. AUD returns are significantly higher for U.S., European, and most Asian indices. For example, the S&P 500 is up 10.37% in USD YTD but has gained 19.2% in AUD.)Asset Class Performance YTD 2018 Q3

Important: This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual and does not constitute financial advice. Consider the appropriateness of the information in regards to your circumstances.

This content may contain opinions, conclusions, estimates and other forward-looking statements which are subject to various risks and uncertainties. Actual events or results may differ materially, positively or negatively, from those reflected or contemplated in such forward-looking statements.

Past performance is not a reliable indicator of previous performance.

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