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2 August 2017
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| Japan stock markets (The Total Investment & Insurance Solutions) |
Global stocks mostly turned lower on Wednesday amid reports that the
U.S. is considering a move that would allow it to put tariffs on some Chinese
imports. Investors will also monitor U.S. jobs data ahead of the key payrolls
report on Friday. The Total Investment
& Insurance Solutions
KEEPING SCORE: Germany's DAX dropped 0.2 percent to 12,227 and the CAC
40 of France edged 0.1 percent lower to 5,121. Britain's FTSE 100 slipped 0.4
percent to 7,392. Wall Street looked set for gains with Dow futures up 0.2
percent and the S&P 500 futures up almost 0.1 percent.
CHINA TRADE: President Donald Trump's administration may use rarely
invoked U.S. trade laws to fend off China's demands that foreign companies
share their technology in return for access to the Chinese markets, according
to a person familiar with the matter. The law allows Washington to investigate
China's trade practices and raise tariffs on imports from China or impose other
sanctions. The move comes as Trump's administration appears set to adopt a
harsher stance toward Beijing than it did during the initial months after the
inauguration. The Total Investment
& Insurance Solutions
ECONOMIC DATA: Factory output data in China, Europe and the U.S.
released this week were encouraging, while the Institute for Supply Management
reported that U.S. factory production rose again last month though at a slower
pace than in June. Later Wednesday, U.S. payroll processor ADP will give its
employment updates for July. But the biggest highlight will be the U.S. jobs
report due Friday.
ANALYST'S COMMENT: "Tonight, investors will closely watch the ADP
private payroll number to assess the health of the jobs market," said
Margaret Yang, a market analyst at CMC Markets in Singapore. "A higher
figure indicates rising employment and potential inflation pressure, which will
increase the likelihood of rate hikes." The Total Investment & Insurance Solutions
IPHONE IMPACT: Apple reported Tuesday that its quarterly earnings rose
12 percent to $8.7 billion, exceeding expectations, as demand for iPhones rose
and gave an upbeat revenue forecast for the current quarter, easing concerns
about production problems for the next-generation iPhone. Shares of Apple's
suppliers in Asia rose. Samsung Electronics Co. rose 0.8 percent and LG Display
Co. jumped 1.8 percent. Taiwan-based contract manufacturer Foxconn Technology
Co., which assembles Apple's iPhones, climbed 2.2 percent. The Total Investment & Insurance
Solutions
ASIA'S DAY: Japan's Nikkei 225 rose 0.5 percent to 20,080.04 and South
Korea's Kospi gained 0.2 percent to 2,427.63. Hong Kong's Hang Seng index
advanced 0.2 percent to 27,607.38 while the Shanghai Composite index shed 0.2
percent to 3,285.06. Australia's ASX/S&P 200 bucked the region's trend,
falling 0.5 percent to 5,744.20 as commodity prices dropped. Stocks in
Southeast Asia were mostly higher. The
Total Investment & Insurance Solutions
OIL: Benchmark U.S. crude fell 8 cents to $49.08 per barrel in
electronic trading on New York Mercantile Exchange. The contract shed $1.01 on
Tuesday. Brent crude, the international standard, rose 2 cent to $51.80 per
barrel in London. It dropped 94 cents the day before.
CURRENCIES: The dollar rose to 110.72 yen from 110.36 yen. The euro
strengthened to $1.1830 from $1.1802.The
Total Investment & Insurance Solutions
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