{"id":133204,"date":"2018-09-05T06:32:50","date_gmt":"2018-09-05T10:32:50","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=133204"},"modified":"2018-09-05T06:32:50","modified_gmt":"2018-09-05T10:32:50","slug":"trade-war-concerns-weigh-on-global-equities","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/09\/trade-war-concerns-weigh-on-global-equities\/","title":{"rendered":"Trade war concerns weigh on global equities"},"content":{"rendered":"
September 5, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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Dollar strengthens as ISM manufacturing jumps<\/h2>\n<\/div>\n<\/div>\n

US stock market\u00a0<\/b>ended lower on Tuesday. Trade war concerns weighed on market sentiment despite positive US data after reopening following three-day weekend. The\u00a0S&P 500\u00a0<\/em>fell 0.2% to 2896.72.\u00a0Dow Jones\u00a0<\/em>industrial average slipped 0.05% to 25.952.48. The\u00a0Nasdaq\u00a0<\/a>composite index lost 0.2% to 8091.25. The dollar strengthening accelerated as the ISM\u2019s manufacturing index hit 14-year high: the\u00a0live dollar index<\/a>\u00a0data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, ended 0.3% higher at 95.40 and is higher currently. Futures on three main US stock indices indicate lower openings today.<\/p>\n

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Lingering trade war concerns weighed on market sentiment against the background of continuing financial turmoil in Argentina and Turkey. Economic data were mostly positive: initial jobless claims rose less than expected, with the monthly average hitting the lowest level since December 1969. Personal spending rose 0.4% in July from 0.3% in June while personal income grew at 0.3% when a steady 0.4% growth was expected. And the personal consumption expenditure index, the Federal Reserve\u2019s preferred inflation gauge, rose to 2.3% from 2.2%, the highest level since April 2012, suggesting the Fed is likely to stick to its rate hikes plan.<\/p>\n<\/div>\n<\/div>\n

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European indices open lower<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>pulled back on Tuesday. The\u00a0EUR\/USD\u00a0<\/a>joined\u00a0GBP\/USD\u2019s\u00a0<\/em>slide and both pairs are down currently. The Stoxx Europe 600 lost 0.7%. The German\u00a0DAX 30\u00a0<\/a>fell 1.1% to 12210.21. France\u2019s\u00a0CAC 40<\/em>\u00a0dropped 1.3% and UK\u2019s\u00a0FTSE 100<\/em>slid 0.6% to 7457.86. Indices opened 0.2% – 0.4% lower.<\/p>\n

\"DE30<\/p>\n

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Investors will be watching closely a meeting today between Michel Barnier, European Union\u2019s top Brexit negotiator and UK Brexit Secretary Dominic Raab. In economic news German jobless claims fell in August while its unemployment rate remained at 5.2%, as had been expected. UK car manufacturing fell 11% in July.<\/p>\n<\/div>\n<\/div>\n

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Asian indices retreat<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are falling today as investors await the resumption of US-Canada trade talks.\u00a0Nikkei\u00a0<\/em>lost 0.5% to 22581 despite slowed yen slide against the dollar. Chinese stocks are falling with President Trump determined to enact duties on another $200 billion of Chinese imports this Thursday: the\u00a0Shanghai Composite Index\u00a0<\/em>is down 1.7% and Hong Kong\u2019s\u00a0Hang Seng index\u00a0<\/em>is 2.4% lower. Australia\u2019s All Ordinaries Index fell 1% despite continued Australian dollar\u2019s slide against the greenback while Australian economy records strong growth in the second quarter.<\/p>\n

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Brent\u00a0<\/a>dips<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices\u00a0<\/b>are lower today as US storm threat eases with the storm in the Gulf of Mexico looked set to miss the bulk of the region\u2019s oil production platforms. Prices ended lower yesterday: November Brent added 0.03% to $78.17 a barrel Tuesday.<\/p>\n

\nMarket Analysis provided by IFCMarkets<\/a><\/p>

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Note:
\nThis overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or \u0430 recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.<\/p>\n","protected":false},"excerpt":{"rendered":"

By IFCMarkets Dollar strengthens as ISM manufacturing jumps US stock market\u00a0ended lower on Tuesday. Trade war concerns weighed on market sentiment despite positive US data after reopening following three-day weekend. The\u00a0S&P 500\u00a0fell 0.2% to 2896.72.\u00a0Dow Jones\u00a0industrial average slipped 0.05% to 25.952.48. The\u00a0Nasdaq\u00a0composite index lost 0.2% to 8091.25. The dollar strengthening accelerated as the ISM\u2019s manufacturing […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-133204","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133204","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=133204"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133204\/revisions"}],"predecessor-version":[{"id":133210,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133204\/revisions\/133210"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=133204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=133204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=133204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}