|Day's Range||27,845.869 - 28,256.689|
|52 Week Range||24,540.631 - 31,978.141|
Trade optimism and better than expected US data help lift stock in early trading, reversing losses in the Thursday session.
The city’s retail industry just had its most lucrative year since 2013, with sales climbing 8.8 percent, or $62 billion. Much of that growth was fueled by the 61.1 million tourists, mostly from mainland China, who flocked to Hong Kong to stock up on cosmetics, jewelry and other luxury goods. Some analysts might call it sluggish, but let’s not sugarcoat it: Retail sales were bad.
U.S. stocks edged lower in listless trading as disappointing economic data and reports the president will declare a national emergency overshadowed news that another government shutdown will be averted. Signs Congress would avert another shutdown boosted sentiment midday and shares drifted until the late slide that came with news that President Donald Trump intends to sign a government funding bill and simultaneously declare a national emergency to get more money for a border wall. Bank stocks were among the hardest hit, as the 10-year Treasury yield briefly sank below 2.65 percent.
With the start of high-level trade talks between the United States and China, Asian market traders are taking a cautious approach to the stock market on Thursday. However, under the cautiousness, there is some optimism. China released better-than-expected January trade balance data early Thursday. The news seemed to have a positive effect on the Australian and New Zealand Dollars, but failed to add to this week’s strength in the major Asian stock markets.
Investors in both Asia and the U.S. are bidding stocks up after President Donald Trump hinted there may be some flexibility around the March 1 deadline to raise American tariffs against Chinese products if the two sides are close to a deal. Mid-level officials began discussions Monday in preparation for two days of talks starting Thursday involving U.S. Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He. “It is good news,” said Alex Wolf, head of investment strategy for Asia at JPMorgan Private Bank, in an interview with Bloomberg TV.
U.S. stocks shook off their malaise Tuesday, boosted by optimism over trade talks and a tentative deal among American lawmakers to avert a government shutdown. After four sessions of losses or whisker-thin gains, the S&P 500 Index registered its biggest one-day increase this month, breaking through its 200-day moving average. The rally was broad-based: Materials stocks led the charge, but financials and the FAANG cohort of tech stocks also advanced, and energy companies gained as oil rebounded from a two-week low after Saudi Arabia pledged to deepen production cuts.
More than 66% of the S&P 500 have reported so far for the fourth quarter and the results are better than expected.
The ChiNext Index closed 3.5 percent higher in Shenzhen for a second straight session, its best two-day performance since October. The yuan dropped 0.9 percent as it traded for the first time in over a week and the Bloomberg Dollar Spot Index rose for an eighth day. Monday’s rally in small caps and stocks in the tech hub of Shenzhen -- which was haunted by hundreds of profit warnings in recent weeks -- shows investors are shifting into privately-owned stocks in lieu of more defensive state-backed giants.
Economic data out of the UK and Brexit chatter keeps the Pound in focus. Across the pond, expect chatter from Capitol Hill to also influence in the day.
Shares of Twitter were moving lower in early trading which added to the general aura of negativity in the market today.
European indices were higher in the earliest portion of the session but gave up those gains by midday. In earnings news, shares of GM spiked in early trading after it reported much better than expected earnings.
We have come to the second month of 2019 and it’s time to take a deep breath after the crazy run of the year, evaluate what has already happened and made some precisions on the upcoming months.
U.S. stocks flipped between small gains and losses Monday, as a rise in technology shares was offset by declines in health-care and energy companies. The Dow Jones Industrial Average rose 36 points, or 0.1%, to 25100. The S&P 500 climbed 0.3%, on course to rise for the fourth consecutive session.
The sentiment is generally positive following a raft of good news in the previous week but expectations for big earnings after the close of trading kept investors in check.
It’s a positive start to the day for the Greenback, as the markets respond to Friday’s solid labor market numbers out of the U.S. It’s risk-on.
The PMI data comes on the heels of the announcement of weak 2018 GDP numbers. The combination of the two pieces of data confirms that China’s economic slowdown is deepening. This is helping to create some urgency for the Chinese government to strike a trade deal with the U.S. at this week’s meetings.
U.S. stocks surged and the dollar tumbled after the Federal Reserve signaled a stark dovish turn in its latest policy statement. The S&P 500 Index rallied to an eight-week high, the Dow Jones Industrial Average jumped 400 points and the Nasdaq 100 Index added more than 2.5 percent after the Fed said it will be “patient” on future interest-rate moves and signaled flexibility on the path for reducing its balance sheet. Major gauges were already higher on the day as technology shares rallied after Apple Inc.’s results beat estimates and Boeing Co. helped boost industrial stocks.
The MSCI Asia Pacific Index was little changed at 5:54 p.m. in Hong Kong Monday, erasing a slight morning advance as traders held off on big bets. There’s also the release of earnings from tech giants including Apple Inc. and Facebook Inc., which could set the tone in Asia. “The outlook is quite complicated for investors,” said Margaret Yang, a strategist at CMC Markets Singapore Pte. “This week is heavily dominated by earnings as well as political and economic events.
It’s risk on early on. Does the U.S President’s white flag on Friday suggest that there may be hopes of a favorable resolution to trade talks?
The report is investment group CLSA's self-described tongue-in-cheek attempt to use traditional Chinese geomancy to forecast market moves. People born in the current lunar Year of the Dog, such as U.S. President Donald Trump, may be followed by "negative energy" and should "just chill" in the upcoming new Year of the Pig, CLSA analyst Sally Chan told CNBC.
U.S. Commerce Secretary Wilbur Ross told CNBC on Thursday that the U.S. is "miles and miles" from a trade deal with China, adding the two countries have "lots and lots of issues."
Stocks closed higher on Thursday after a choppy trading day, while U.S. Treasuries were in demand after the European Central Bank chief said economic growth was likely to be weaker than expected and with the United States was far from a China trade deal. U.S. Commerce Secretary Wilbur Ross told CNBC Washington was "miles and miles" from resolving trade issues with China. The euro touched its lowest point against the dollar in six weeks after ECB President Mario Draghi left interest rates unchanged, saying near-term data is likely to be hit by fallout from factors including China's slowdown and Brexit.
Xilinx led semiconductor stocks higher, American and Southwest spurred an airline rally Thursday, but the Dow Jones industrials dipped on trade fears.