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8 June 2018
 |
| Japan financial markets (The Total Investment & Insurance
Solutions) |
Global stock markets fell Friday ahead of a Group of Seven summit that
promises to be tense as leaders confront U.S. President Donald Trump over
tariffs he is imposing. Investors will then also look to policy meetings by the
European Central Bank and Federal Reserve next week.
KEEPING SCORE: Germany's DAX was down 0.8
percent to 12,707 while France's CAC 40 slipped 0.1 percent to 5,442. Britain's
FTSE 100 fell 0.6 percent to 7,658. U.S. shares were set to drift lower with
Dow futures down 0.6 percent and S&P 500 futures down 0.5 percent. The Total Investment & Insurance
Solutions
ASIA'S DAY: Japan's benchmark Nikkei 225 shed
0.6 percent to finish at 22,694.50. Australia's S&P/ASX 200 edged down 0.2
percent to 6,045.20. South Korea's Kospi lost 0.8 percent to 2,451.58. Hong
Kong's Hang Seng slipped 1.9 percent at 30,910.89, while the Shanghai Composite
index shed 1.4 percent to 3,067.15. The
Total Investment & Insurance Solutions
GROUP OF SEVEN: Leaders from the Group of
Seven wealthy industrialized nations are meeting in Canada, where Trump's new
tariffs are expected to be a major focus. The White House is expecting a chilly
reception from Canada and western European countries. The leaders of France and
Canada in particular on Thursday expressed in tough terms their disapproval of
the tariffs.
RATE WATCH: The Federal Reserve is expected
to raise interest rates next. That would be the second increase in rates this
year, and the Fed has said it expects to raise rates three times in 2018. The
ECB, meanwhile, will consider whether to rein in its massive monetary stimulus
program, which has boosted growth and stocks and kept a lid on the euro. The Total Investment & Insurance
Solutions
THE QUOTE: "There's a high level of
circumspection associated with this weekend's G-7 meeting as President Trump prepares
to enter the G-7 lion's den," says Stephen Innes, head of trading at
Oanda. "Then there's that small matter of the European Central Bank and
Federal Reserve Board meetings, which could be very crucial for the markets
next tack."
ENERGY: Benchmark U.S. crude dipped 35 cents
$65.60 a barrel. It rose 1.9 percent to $65.95 per barrel in New York Thursday.
Brent crude, used to price international oils, fell 65 cents to $76.67 per
barrel in London.
CURRENCIES: The dollar fell to 109.26 yen
from 109.97 yen late Thursday in Asia. The euro slipped to $1.1739 from
$1.1817.The Total Investment &
Insurance Solutions
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