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27 November 2017
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| China financial markets (The Total Investment & Insurance Solutions) |
Global stocks fell modestly Monday as investors awaited the full return
of Wall Street traders to their desks following the Thanksgiving break. Early
indications over the success of Black Friday were set to drive trading at the
start of a busy week on the economic data front. The Total Investment & Insurance Solutions
KEEPING SCORE: In Europe, France's CAC 40 was down 0.3 percent at 5,375
while Germany's DAX fell 0.2 percent to 13,038. Britain's FTSE 100 was 0.1
percent lower at 7,402. U.S. stocks were poised for a flat opening with Dow
futures and the broader S&P 500 futures unchanged.
WALL STREET: In muted trading on Friday, U.S. stocks set more records
following the Thanksgiving Day break, with technology companies leading the
way. The focus in the early part of this week is likely to be on Black Friday
sales updates. Macy's has already said sales on one of the busiest shopping
days of the year were going well. The
Total Investment & Insurance Solutions
ANALYST TAKE: "A strong showing for online retailers on Black
Friday may have boosted sentiment, with Cyber Monday having the potential to be
even better in a sign that the consumer is healthier than other numbers this
year have indicated," said Craig Erlam, senior market analyst at OANDA.
U.S. TAXES: The House has passed a 10-year, $1.4 trillion tax cut that
blends a sharp reduction in business tax rates with more modest relief for
individuals. The Senate expects to vote on its version this week. Republicans can
pass the measure without Democratic votes. The Total Investment & Insurance Solutions
WEEK AHEAD: It's a busy week on the data front, with a raft of
manufacturing figures due at the end of the week. There's also inflation
figures for the eurozone as well as comments from outgoing Federal Reserve
chair Janet Yellen to digest.
GERMAN POLITICS/EURO: Europe's single currency rallied after Chancellor
Angela Merkel said she is committed to moving ahead with initial talks on
trying to forge a coalition government with the center-left Social Democrats,
following the failure of negotiations with two smaller parties, adding that
stability is her priority. Merkel told reporters after a meeting with her party
leaders that her conservative bloc was "prepared to take responsibility"
of government again, while acknowledging that compromise would be necessary.
The euro was up 0.8 percent at $1.1946.
The Total Investment & Insurance Solutions
ASIA'S DAY: The Shanghai Composite Index fell 0.9 percent to 3,322.23
and Tokyo's Nikkei 225 lost 0.2 percent to 22,495.99. Seoul's Kospi plunged 1.4
percent to 2,507.81 and Hong Kong's Hang Seng shed 0.6 percent to 29,691.01.
India's Sensex lost 0.2 percent to 33,604.68 and Sydney's S&P-ASX 200 edged
up 0.1 percent to 5,988.80. New Zealand gained while benchmarks in Taiwan and
Southeast Asia retreated. The Total
Investment & Insurance Solutions
ENERGY: Benchmark U.S. crude fell 62 cents to $58.33 per barrel in
electronic trading on the New York Mercantile Exchange while Brent crude, used
to price international oils, fell 37 cents to $63.10 in London.The Total Investment & Insurance
Solutions
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