Contact Your Financial Adviser Money Making MC
27 November 2018
 |
financial markets (The Total Investment & Insurance Solutions)
World markets were mostly higher on Tuesday despite U.S. President
Donald Trump saying it's "highly unlikely" he'll hold off on raising
tariffs ahead of a closely-watched meeting with his Chinese counterpart.
KEEPING SCORE: Germany's DAX index gained 0.3
percent to 11,381.78 and France's CAC 40 added 0.2 percent to 5,006.05.
Britain's FTSE 100 index was flat at 7,037.15. Wall Street was set for a
moderate start. Futures for the broad S&P 500 index rose 0.1 percent to
2,671.20. Dow futures also gained 0.1 percent to 24,621.00.
ASIA'S DAY: Japan's benchmark Nikkei 225
added 0.6 percent to 21,952.40 and South Korea's Kospi rose 0.8 percent to
2,099.42. Australia's S&P/ASX 200 rallied 1 percent to 5,728.30, while the
Shanghai Composite dropped less than 0.1 percent to 2,574.68. Hong Kong's Hang
Seng gave up 0.2 percent to 26,331.96. Shares rose in Taiwan, Malaysia and the
Philippines but fell in Singapore and Indonesia.
TRUMP ON TARIFFS: In an interview with the
Wall Street Journal, Trump said it is "highly unlikely" he'll reverse
plans to raise tariffs on $200 billion of Chinese goods in January. He also
threatened to impose tariffs on more Chinese goods if he fails to broker a deal
with Chinese President Xi Jinping this week. The two leaders are set to meet on
the sidelines of G-20 summit in Argentina, which takes place on Friday and
Saturday. Trump said that the new tariffs would "maybe" apply to
iPhones and laptops imported from China. Apple slumped 2.1 percent to $170.93
in after-hours trading, erasing its gains in the U.S. session.
ANALYST'S TAKE: Monday's rebound of U.S.
equities "is set to be tested as Trump has resumed his confrontational
approach ahead of G-20 meeting with Xi," Zhu Huani of Mizuho Bank said in
a market commentary. "This has sent a cautious mood to the market as a
grim reminder that hurdle remains high in the forthcoming Trump-Xi trade
talk," she added.
BREXIT HARD SELL: British Prime Minister
Theresa May is trying to convince Parliament to back a deal securing the
country's exit from the European Union, which took more than a year and a half
to negotiate. The deal has drawn criticism by hard-core Brexit-backers, pro-EU
lawmakers and previously loyal backbenchers. Trump may have complicated things
by suggesting it may make it harder for the U.K. to trade with the U.S., in an
interview with the Wall Street Journal. Brexit supporters hope that Britain
will strike a wide-ranging trade deal with the U.S. after leaving the EU on
March 29.
ENERGY: Oil futures fell on concerns over
rising stockpiles and slowing economic growth. OPEC representatives and other
major oil producers will meet in Vienna next week to discuss a possible cut in
production. Benchmark U.S. crude shed 47 cents to $51.16 in electronic trading
on the New York Mercantile Exchange. The contract added $1.21 to close at
$51.63 in New York on Monday. Brent crude, the international standard, lost 45
cents to $60.03. It gained $1.68 to $60.48 in London.
CURRENCIES: The dollar rose to 113.60 yen
from 113.59 yen late Monday. The euro weakened to $1.1321 from $1.1327.The Total Investment & Insurance
Solutions
No comments:
Post a Comment