Halister News

(Bloomberg) -- Lowe’s affirms year comp. sales outlook. Shares fall 3% pre-market. Statement Link

(Bloomberg) -- U.K. July claimant count rate est. 2.2% vs prev. 2.2%.

• U.K. June weekly earnings est. 2.4% vs prev. 2.3%
• U.K. June 3-mo. ILO unemployment rate est. 4.9% vs prev. 4.9%.

(Bloomberg) -- PGB-bund spread widens from the crucial 200-DMA support at 275bps after PGBs sold off yesterday following a report citing DBRS’s concerns over Portugal’s creditworthiness, Bloomberg technical analyst Sejul Gokal writes.

• See chart; current spread at 290bps
• Widening of ~10bps yesterday resulted in a bullish engulfing candlestick pattern against the aforementioned support, which typically anticipates a wider spread in coming days
• Next spread levels in focus are 305bps, where the 100-DMA is located, and then 316bps (61.8% Fibonacci)
  • Interim spread resistance at 300bps from 23.6% Fibonacci and horizontal line

• NOTE: Sejul Gokal is a technical strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice.