Contact Your Financial Adviser Money Making MC
26 March 2018
 |
| China financial markets (The Total Investment & Insurance
Solutions) |
Stocks recovered their poise Monday after a stormy week, as
investors sensed that a trade war between the U.S. and China could be averted.
KEEPING SCORE: In Europe, Germany's DAX was up 0.6 percent to 11,953
while Britain's FTSE 100 advanced 0.4 percent to 6,947. France's CAC-40 added
0.3 percent to 5,109. U.S. stocks were poised for solid gains at the bell, with
Dow futures and the broader S&P 500 futures up 1.1 percent.
TARIFFS AND TRADE: Last week, global stock markets fell sharply amid
fears of a trade war after President Donald Trump approved possible higher
duties on $60 billion worth of Chinese goods in a dispute over technology
policy. On Friday, Beijing released a $3 billion list of U.S. goods targeted
for possible retaliation over an earlier U.S. tariff hike on steel and aluminum
imports. That prompted fears the spat might depress trade worldwide and set
back the global economic recovery. The
Total Investment & Insurance Solutions
POTENTIAL COMPROMISE: Signs of a compromise have emerged. China's
government said it is open to negotiating with Washington following a news
report American officials have submitted a list of market-opening requests. A
foreign ministry spokeswoman, Hua Chunying, didn't confirm the report by The
Wall Street Journal but said at a regular briefing, "Our door for dialogue
and discussion is always open." The Journal said U.S. Treasury Secretary
Steven Mnuchin and China's economic czar, Vice Premier Liu He, were leading
negotiations. It said American market-opening requests as a possible condition
of a settlement covered the auto, finance and semiconductor industries.
ANALYST TAKE: "The decision to exempt key U.S. allies from the
tariffs is a sign that the White House is not as dogmatic as the rhetoric
appears, and should give negotiators room for maneuver," said Chris
Beauchamp, Chief Market Analyst at IG. "Still, given how badly equities
reacted last week a failure of negotiations would likely prompt another ugly
sell-off."
ASIA'S DAY: The Shanghai Composite Index shed 0.6 percent to 3,133.72
while Tokyo's Nikkei 225 gained 0.7 percent to 20,766.10. Hong Kong's Hang Seng
rose 0.7 percent to 30,512.14 and Sydney's S&P-ASX 200 retreated 0.5
percent to 5,790.50. Seoul's Kospi added 0.8 percent to 2,437.08 and India's
Sensex advanced 0.3 percent to 32,695.04.
ENERGY: Benchmark U.S. crude fell 16 cents to $65.72 per barrel in
electronic trading on the New York Mercantile Exchange while Brent crude, used
to price international oils, shed 5 cents to $70.40 in London.
CURRENCY: The euro rose 0.4 percent to $1.2409 while the dollar was up
0.4 percent at 105.10 yen.The Total
Investment & Insurance Solutions
No comments:
Post a Comment