The Fed cut interest rates by 25 basis points on Wednesday — its first cut in more than a decade — citing “global developments” along with “muted inflation” as reasons for easing monetary conditions. However, Chairman Jerome Powell told reporters… Read More ›
U.S. Stock Market
China’s currency fell to a fresh one-year low against the dollar on Friday, even after comments from President Donald Trump knocked the dollar from wider year-highs.
StockMarketNews.Today – Renminbi at one-year low even as wider dollar rally eases.
Trump comments take the US currency off year-highs, but China’s continues to weaken.
Confident remarks by Jay Powell on the outlook for the US economy helped US and European stock markets push higher
StockMarketNews.Today – Upbeat Powell testimony bolsters equities.
Dollar holds gains as Fed chair reiterates commitment to gradual rate rises.
The strong run of numbers from US earnings season is helping to support a sense of cautious optimism on stock markets as investors also watch for potential disruption from geopolitics.
Upbeat US earnings help support stocks.
Mood stays cautious as investors watch tension between US and EU
Citigroup has continued a solid second-quarter earnings season for the big US banks, posting a 15 per cent rise in net income despite more sluggish activity on Wall Street.
Citigroup profits boosted by tax cuts and consumer banking
Trump’s reform cut the New York-based bank’s effective tax rate from 32% last year to 24% now
Asia-Pacific equities recover as US-China trade dispute fears ebb. Sterling dips briefly after Trump makes harsh Brexit comments on visit to Britain
Stocks mostly climbed in Asia as concerns about US plans for tariffs on $200bn of imports from China continued to dissipate. The pound dipped briefly following comments from US President Donald Trump suggesting the UK’s current Brexit plans would forestall a bilateral trade deal, while oil prices edged lower after a partial recovery during the previous session.
Stocks bounce higher as investors track trade tension. Crude oil prices stabilise following biggest one-day tumble in more than two years
What you need to know:
Stocks rebound as traders move back in after trade dispute sell-off.
Investors hope measures taken in the clash will not match its rhetoric.
Optimism ahead of earnings season also supports sentiment.
Oil prices rebound after sharp drop on fears for demand from China.
Turkish lira touches fresh record low as concern at rate outlook rises.
US consumer price inflation hits highest since 2012.
Investors snapped up Wednesday’s $22bn 10-year Treasury auction, in a sign that intensifying trade disputes have yet to impact US government debt sales.
StockMarketNews.Today – Primary dealers responsible for bidding on a pro-rata share of each auction to ensure the debt is sold walked away with just 24.5 per cent of the sale compared to a 12-month average of 30 per cent, as other investors came in to buy, suggesting strong demand.
Trump ratchets up trade tension.China leads broad sell-off as US prepares tariffs on a further $200bn in imports
What you need to know:
Escalation of trade war sours mood.
China-focused stocks lead broad sell-off; European bourses set to follow.
Pompeo hints at Iran oil sanction waivers.
StockMarketNews.Today – Here’s a preview of the top 3 things that could rock U.S. markets tomorrow.
Morgan Stanley is bracing for a turn lower in the stock market and is recommending clients to shift away from the technology stocks that have helped drive US equities higher and move into more defensive sectors such as consumer staples, telecoms and utilities.
StockMarketNews.Today – Major US stock indices stumbled as global trade disputes intensified. But a strong economic backdrop, bolstered by solid US jobs data on Friday, have offered some respite, with the S&P 500 and the Nadaq Composite up 3.7 per cent and 11.7 per cent respectively
President Donald Trump is already threatening additional rounds of tariffs, possibly targeting more than $500 billion worth of Chinese goods – roughly the total amount of U.S. imports from China last year.
StockMarketNews.Today – It will take weeks or months for the U.S. Trade Representative to review and possibly activate any new rounds of punishment.
China’s commerce ministry said it was forced to retaliate, meaning imported U.S. goods also faced 25 percent tariffs.
Global markets are bracing themselves as the deadline nears for the US to start imposing tariffs on $34bn of imports from China.
European stocks hold nerve into US tariff deadline
China markets continue to bear brunt of trade dispute, dollar drifts away from highs.
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.
Investors were greeted by a sea of red across global equities markets Monday, as U.S. and European stocks fell following a slump in Asia at the start of a crunch week for global trade. Political risks sent the dollar higher with Treasuries, roiling emerging markets.
“Trade and tariff tensions continued to weigh on global equities as well as emerging market currencies,” John Stoltzfus, the chief investment strategist at Oppenheimer & Co., wrote in a note to clients Monday. “This is likely to persist particularly as the July 6 deadline looms for the Trump Administration’s planned imposition of tariffs.”
As of Friday, both the Dow and the S&P have been in correction territory for 99 trading days. This stands as the longest such stretch since the financial crisis in 2008, when 108 days passed before the two exited corrections.