Contact Your Financial Adviser Money Making MC
19 July 2018
 |
| financial markets (The Total Investment & Insurance Solutions) |
Global stock markets drifted lower Thursday as the U.S. mulled whether
to impose new tariffs on autos and auto parts. Europe said it was preparing to
retaliate in kind, denting one of the key drivers of global growth.
KEEPING SCORE: Germany's DAX fell 0.4 percent
to 12,713 and France's CAC 40 was down 0.5 percent at 5,420. Britain's FTSE 100
was flat at 7,678. Futures augured small losses on Wall Street, with S&P
and Dow futures both down 0.2 percent.
AUTO TARIFFS: The next big event on the
global trade front may be the U.S. Commerce Department's decision whether to
label imported vehicles and auto parts a threat to America's national security
and whether to recommend tariffs to the president. Before the decision is made,
manufacturers, suppliers, car dealers and foreign diplomats will line up
Thursday to testify at a Washington hearing, seeking to head off new auto
tariffs. The European Union said it was already preparing measures to
retaliate.
ASIA'S DAY: Asian markets finished mostly
lower with Japan's Nikkei 225 losing 0.1 percent to 22,764.68 while South
Korea's Kospi shed 0.3 percent to 2,282.29. Hong Kong's Hang Seng fell 0.4
percent to 28,010.86 while the Shanghai Composite Index slipped 0.5 percent to
2,772.55. But Australia's S&P-ASX 200 gained 0.3 percent to 6,262.70.
CURRENCIES: The British pound was the biggest
mover, falling to 10-month lows of $1.2979, from $1.3071 the day before, after
weak retail sales figures dented expectations of an interest rate hike in
August. Elsewhere, the dollar rose to 113.04 yen from 112.85 yen. The euro
weakened to $1.1591 from $1.1638.
EARNINGS: Corporate reports were
underwhelming, with shares in French ad company Publicis down 8 percent after
it said its revenue disappointed. Investors are also looking to earnings from
Microsoft later in the day for insight into the health of the technology
sector.
OIL: Benchmark U.S. crude lost 81 cents to
$67.95 per barrel in electronic trading on the New York Mercantile Exchange. On
Wednesday, the contract rose 1 percent to finish at $68.76 a barrel in New
York. Brent crude, used to price international oils, fell 87 cents to $72.03
per barrel in London. It added 1 percent to settle at $72.90 a barrel on
Wednesday.The Total Investment &
Insurance Solutions
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