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Tech & Science Stocks slip on trade worries as record high stays elusive

11:45  29 november  2019
11:45  29 november  2019 Source:   reuters.com

8@eight: ASX set to fall as trade deal worries hit markets

  8@eight: ASX set to fall as trade deal worries hit markets What happened over the weekend and what's ahead for the ASX.1. Sentiment turns and economic health returns to fore: The post-Fed positivity proved short-lived. Risk appetite in broader financial markets was sapped overnight, after the release of some sobering trade-war news, and some weak US economic data. Concerns about global growth have returned – in part due to, too, data that showed Chinese manufacturing contracted again last month, and the Hong Kong economy has slipped into recession.

Asian stocks slipped Monday, as investor worries continued about global trade tensions and prospects for economic growth. The benchmark index tumbled 4.1 percent during the week, and it's down 5.6 percent since from its latest record high , set Sept.

World stock markets rallied on Thursday, with the Dow and S&P 500 setting new highs , while the U.S. dollar slipped as investors viewed this week's fresh U.S. and Chinese tariffs on imports as less harsh than initially feared. Larry Fink, chief executive of BlackRock Inc, the world's largest.

a man standing in front of a blackboard: Passersby are reflected on a stock quotation board outside a brokerage in Tokyo © Reuters/ISSEI KATO Passersby are reflected on a stock quotation board outside a brokerage in Tokyo

By Tom Wilson

LONDON (Reuters) - World shares slipped on Friday as a leading index strained for a record high, with nerves gnawing away from Asia to Europe over how, or when, the U.S. and China can agree a truce in their damaging trade war.

The MSCI All Country world index <.MIWD00000PUS>, which tracks shares in 49 countries, fell 0.2% to 548.48 points, short of a record 550.63 scaled in January 2018 before the tensions over trade between Washington and Beijing broke out.

European shares clawed back ground after opening lower. The broad Euro STOXX 600 <.STOXX> was flat after opening 0.5% lower, still near a four-year high.

US stocks hit record high on Fed bump

  US stocks hit record high on Fed bump The US S&P 500 stock index has closed on a record high after the Federal Reserve cut its interest rate.The Fed lowered its policy rate to a target range between 1.50 percent and 1.75 percent, but dropped a previous reference in its statement to "act as appropriate" to sustain the economic expansion, which could signal the Fed may hold off on future rate cuts.

World shares made another push for an elusive record high on Wednesday after U.S. President Donald Trump said Washington and Beijing were in the final throes of inking an initial trade deal. Sterling continued to edge lower as pre-election opinion polls showed some narrowing of Prime

Stocks trade mostly lower on Thursday as the U.S. and China launch tit-for-tat tariffs. The Nasdaq joined other indexes in negative territory Thursday after closing higher for five straight sessions. Alibaba Group Holding Ltd. (BABA) fell 3% even after the Chinese e-commerce giant's fiscal

Asia had earlier endured a sombre session, with MSCI's broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> falling 1.1%.

There, Hong Kong <.HSI> led the dip, losing 2.1%. South Korean shares <.KS11> and Japan's Nikkei <.N225> also fell.

China's blue-chips <.CSI300> gave up 1.3% a day before the country reports manufacturing activity, which analysts expect to have shrunk for seventh straight month in November.

The sell-off came as investors grew uncertain over how U.S. markets will perceive the latest clash between Washington and Beijing over Hong Kong.

Wall Street will start a half-day session on Friday following Thursday's Thanksgiving holiday, with futures gauges suggesting losses of around 0.3%.

China warned the United States on Thursday it would take "firm counter measures" in response to U.S. legislation backing anti-government protesters in Hong Kong.

Disney lifts Dow, S&P 500 to records

  Disney lifts Dow, S&P 500 to records A big jump in Walt Disney shares has helped propel the Dow Jones Industrial Average and the S&P 500 to record closing highs but the Nasdaq fell.The Dow Jones Industrial Average and the S&P 500 have posted record closing highs helped by a big jump in Walt Disney shares, but the Nasdaq fell as stocks were kept in check by fresh uncertainty over US-China trade relations.

World stock markets rallied on Thursday, with the Dow and S&P 500 setting new highs , while the U.S. dollar slipped The Dow industrials became the last key U.S. stock index to regain record territory, while the Tech stocks led all three major U.S. indexes higher in a broad-based rally on Wall Street.

* World stocks index climbs to within 2 points of record . * European bourses, Wall Street futures grind 0.15% higher . LONDON, Nov 27 (Reuters) - World shares made another push for an elusive record high on Wednesday after U.S. President Donald Trump said Washington and Beijing were in the final

"The more recent news on the trade front is how the Hong Kong situation might play into the U.S.-China trade negotiations," said Hugh Gimber, global market strategist at J.P. Morgan Asset Management.

"The market is now waiting on the next clear steer on when investors might be able to expect a deal to be reached."

Markets had risen through October and in November had begun to price in expectations of the two sides reaching an initial deal by the year-end, Gimber said, adding that situation has started to look less likely.

Still, investors are on the whole betting that despite wild cards such as the U.S. legislation, it ultimately remains in the interest of both Washington and Beijing to move forward with talks to get a trade deal.

The MSCI world index has climbed 2.5% this month, its third straight month of gains, helped in part by hopes the world's two biggest economies are moving towards a resolution to a trade conflict that has upset financial markets and disrupted supply chains.

Stocks extend record run on strong economic data

  Stocks extend record run on strong economic data Stocks were mixed Wednesday after the release of stronger-than-forecast economic data. The Dow was up 40 points, while the S&P 500 climbed 0.4% and the Nasdaq advanced 0.55%. The averages posted intraday records and were headed for their fourth straight day of gains. Apple and Facebook contributed to Wednesday’s gains, rising 0.9% and 1.6%, respectively. Amazon traded higher by 1.3% while Netflix rose 0.7%. Consumer discretionary was the best-performing sector in the S&P 500, rising 0.7% as Under Armour shares outperformed. The apparel maker’s stock traded 5.

Larry Fink, chief executive of BlackRock Inc, the world's largest asset manager, said the United States was "a big winner" in the trade spat with China "in the short term," though not necessarily over time. The Dow industrials became the last key U.S. stock index to regain record .

* World stocks index climbs to within 2 points of record . * European bourses, Wall Street futures grind 0.15% higher . LONDON, Nov 27 (Reuters) - World shares made another push for an elusive record high on Wednesday after U.S. President Donald Trump said Washington and Beijing were in the final

For the year, the index up around 20% this year, helped also by a lowering of interest rates and injections of government stimulus around the world.

Amid a quiet day in holiday-thinned trading, investors had their eye on euro zone flash inflation figures, due at 1000 GMT.

In early trade, euro zone 10-year bond yields were little changed on the day. Germany's benchmark Bund yield was at minus 0.36% , off one-month lows hit during the previous session.

To see a graphic on MSCI ACWI, MSCI AXJ Nov 29 2019, click here: https://fingfx.thomsonreuters.com/gfx/mkt/12/9296/9208/MSCI%20ACWI,%20MSCI%20AXJ%20Nov%2029%202019.jpg

QUIET ON THE DOLLAR FRONT

With few major news catalysts in the China-U.S. trade talks, major currencies stayed in tight trading ranges.

Against a basket of six major currencies, the dollar <.DXY> traded flat at 98.322, and edged up slightly against the Japanese yen.

In early London trading, the greenback reached 109.50 yen , not far off a six-month peak of 109.61 set on Wednesday.

"China has already threatened retaliation measures in reaction to the bill being passed, while it remains unclear for now what shape these will take," said Thu Lan Nguyen, a strategist at Commerzbank. "That means there is still the risk of a set-back short term."

Stocks extend record run on strong economic data

  Stocks extend record run on strong economic data Jeff Yurcisin on Zulily

The stock was down around another 0.7% in premarket trade amid disappointment the company would not begin taking orders for its new 9 iPhone X model Elsewhere, European stocks pulled back, as losses for Apple suppliers helped push the regional benchmark toward its first loss in six sessions.

World stock markets rallied on Thursday, with the Dow and S&P 500 setting new highs , while the U.S. dollar slipped The Dow industrials became the last key U.S. stock index to regain record territory, while the Tech stocks led all three major U.S. indexes higher in a broad-based rally on Wall Street.

The euro stood at $1.1009 , and has stood stuck in a tight range for the past week.

As trading in major currencies slumbers, their implied volatilities, key gauges of expected swings measured by their option prices, plumbed to record lows this week.

Elsewhere, bitcoin gained 0.4%, with the original cryptocurrency on course for its worst month in a year. Bitcoin has been heavily sold off as hopes fade that an embrace of blockchain technology by China's government would see digital money enter the mainstream.

Oil prices were little changed, with investors awaiting a meeting of OPEC and its allies next week that may result in the extension of an output cut agreement to support the market.

Brent crude futures were down 13 cents, or 0.2%, at $63.74 a barrel.

For Reuters Live Markets blog on European and UK stock markets, please click on: [LIVE/]

(Reporting by Tom Wilson; additional reporting by Olga Cotaga in London, Hideyuki Sano in Tokyo and Noah Sin in Beijing; Editing by Simon Cameron-Moore and Christian Schmollinger)

ASX sinks as Donald Trump threatens to impose tariffs on Brazil and Argentina metal imports .
Australian shares tumble after US President Donald Trump decides to widen his trade war by reinstating tariffs on steel and aluminium imported from Brazil and Argentina.By 1:25pm (AEDT), the ASX 200 had fallen by a steep 138 points, or 2 per cent, to 6,724.

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