Contact Your Financial Adviser Money Making MC
13 July 2018
 |
South korea financial markets (The Total Investment & Insurance
Solutions)
Global shares rose Friday as investors focused on a run of
earnings statements from U.S. banks. The British pound, however, was in retreat
after President Donald Trump appeared to dash hopes of any imminent U.S.-U.K.
trade deal.
KEEPING SCORE: In Europe, Britain's FTSE 100
was up 0.4 percent at 7,683 while Germany's DAX rose 0.3 percent to 12,537.
France's advanced 0.4 percent to 5,427. Wall Street was poised to flat with Dow
futures and the broader S&P 500 futures down 0.1 percent. The Total Investment & Insurance
Solutions
US BANKS: The absence of any fresh trade war
comments has allowed traders to focus on the start of the U.S. corporate
results season. On Friday, JP Morgan Chase, Citigroup and Wells Fargo all
report results. Already, JP Morgan said its second-quarter profits rose by 18
percent from a year ago, as it continued to benefit from higher interest rates
and a lower tax bill following last year's passage of President Donald Trump's
tax law.
ANALYST TAKE: "Investors will be paying
close attention not just to the results but also references to trade tariffs
and the impact they are expected to have on future results, particularly those
that have already been targeted in counter-measures taken or proposed against
the U.S.," said Craig Erlam, senior market analyst at OANDA. The Total Investment & Insurance
Solutions
US-CHINA TRADE: China has yet to give details
on what kind of "firm and forceful measures" it would use to respond
to the fresh round of potential tariff hikes on $200 billion of goods announced
by the U.S. on Tuesday. But Beijing stepped up pressure on Washington by
suggesting that U.S. companies lobby American leaders. The U.S. and China are
yet to resume negotiations over the dispute that led to tariff hikes on each
other's goods.
TRUMP'S UK VISIT: In an interview with The
Sun newspaper, Trump slammed Prime Minister Theresa May's plans for Britain's
departure from the European Union and praised her political rival Boris
Johnson, who quit May's Cabinet this week over Brexit differences. He also
criticized immigration in Europe and declared that London Mayor Sadiq Khan, a
Muslim, had failed to stop terrorism. The pound fell 0.6 percent to $1.31 after
Trump's comments, and May's government struggled to put a brave face on a
presidential visit that has veered wildly off course. The Total Investment & Insurance Solutions
ASIA'S DAY: Asian markets finished mostly
higher led by Japan, where the Nikkei 225 jumped 1.9 percent to 22,597.35,
helped by a weakening in the yen against the U.S. dollar in a boon to blue chip
manufacturers. South Korea's Kospi advanced 1.1 percent to 2,310.90 and Hong
Kong's Hang Seng index added 0.2 percent to 28,525.44. But the Shanghai
Composite Index fell 0.2 percent to 2,831.18.
OIL: Benchmark U.S. crude fell 7 cents to
$70.26 a barrel on the New York Mercantile Exchange while Brent crude, used to
price international oils, gave up 20 cents to $74.25 per barrel in London.
CURRENCIES: The euro was down 0.3 percent at
$1.1635 while the dollar was steady at 112.55 yen.The Total Investment & Insurance Solutions
No comments:
Post a Comment