Wall Street lifts optimistic about trade negotiations between the US and China



updated

August 21, 2018 07:28:20

Global markets pushed from one day to the next on optimism about trade negotiations between the United States and China this week.

Markets at 7:20 am (AEST):

  • ASX SPI 200 futures flat at 6.311, ASX 200 (Monday & # 39; s close) flat at 6.345
  • AUD: 73.4 US cents, 57.34 British pence, 63.88 cents, 80.79 Japanese yen, $ NZ1.10
  • US: Dow Jones + 0.4 percent at 25,759, S & P 500 + 0.2 percent at 2,857, Nasdaq + 0.1 percent at 7,821
  • Europe: FTSE + 0.4pc at 7.751, DAX + 1pc at 12.331, CAC + 0.7pc at 5.380, Euro Stoxx 50 + 0.6pc at 3.394
  • Raw materials: raw Brent + 0.5pc at $ US72.15 / barrel, spot gold + 0.5pc at $ US1.190.17 / ounce, iron ore + 0.3pc at $ US67.81 / ton

Mid-level American and Chinese officials will meet in Washington to discuss the ongoing trade eruptions between their governments on August 21 and 22.

The hope that something positive can result from these negotiations has led to trade-sensitive stocks such as the aviation company Boeing (+ 1.3 pc).

The Dow Jones index rose by 89 points, or 0.4 percent, to 25,759, based on industrial equities.

The benchmark S & P 500 rose by 0.2 percent, while the easing trade war meant increased oil prices and metal prices – and in turn the energy and materials sectors.

The Nasdaq rose slightly, on a few points, when the technology shares shortened their losses.

Facebook shares fell 0.8 percent on reports that the US government is trying to force the social network to break the coding of the Messenger app to help with a criminal case.

The European markets ended up slightly higher at night, respectively by 0.4 and 1 percent in London and Frankfurt, prior to the trade negotiations between the US and China.

Australian market today

Despite the positive lead of overseas markets, Australian equities are expected to open without much momentum.

ASX futures trade 4 points higher, almost flat.

BHP, Oil Search, Seven West Media and Super Retail Group are some of the companies that report their financial results today.

The Australian dollar has risen by 0.4 percent to 73.4 US cents.

It fell slightly to 57.3 British pence, but is stable at 63.9 cents and 80.8 Japanese yen.

More to come.

Subjects:

business economics and finance,

trade,

scholarship,

markets,

currencies,

Australia,

United States

First posted

August 21, 2018 07:21:40


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