StockMarketNews.Today – The revised publication of the data for July from the University of Michigan’s Consumer Survey Center showed that consumer sentiment showed a reading of 97.9, up from the initial reading of 97.1.
Global Stock Market Overview
StockMarketNews.Today – China is looking to overcome EU wariness and build a coalition against Washington at a summit in Beijing with European leaders on July 16-17, with Donald Tusk, president of the European Council, and EU Commission president Jean-Claude Juncker leading the visiting delegation.
China’s stock market remains under pressure and European stocks are drifting as investors continue to watch for signs that the trade dispute between China and the US could be influencing China’s policy on its currency.
What you need to know:
Equities lower as trade fears persist.
European tech stocks track losses for the sector overnight on Wall Street.
Renminbi moves further up off lows as attention stays on China’s currency policy.
Chinese stock indices stay under more pressure than their peers.
Sterling bounces up after reassuring services sector economic data.
“Possible trade wars are just another worry on top of other existing global economic problems, but the expectation of recession is usually necessary for a bear market to occur and we don’t believe that is about to happen,” says Jane Sydenham, investment director at Rathbones.
Top Stock Market News: The decline in China’s currency and the recent bout of pressure on its stock markets continue to set a cautious tone to trade, but US and European indices are rising, helped by supportive political developments closer to home.
There is relief at a deal between Germany’s coalition partners on immigration, helping Frankfurt’s Xetra Dax 30 rise 1 per cent — with support from financial and industrial stocks — as it recovers after the previous session’s decline.
Wall Street stocks are ticking higher in opening trade, with the S&P 500 up 0.3 per cent as energy stocks get a boost from higher oil prices. The Nasdaq Composite is up 0.1 per cent.