Monday, 10 April 2017
US equities under pressure over increasing geopolitical tensions
US equities were set for a flat opening on Monday, with geopolitical tensions still weighing on market sentiment and as investors looked ahead of further economic data later this week.
Wall Street top three benchmarks ended lower on Friday amid mixed employment reports and increasing worries that the United States will engage in aggressive combat in Syria.
On Thursday, President Donald Trump ordered the US military to fire dozens of missiles to destroy a Syrian airbase in response to Bashar Al-Assad’s chemical attack in the Idlib province.
Increasing uncertainty translates into a wider demand of safe haven assets such as gold, the japanese yen or even the US dollar. Also, crude oil prices moved higher following the news as any instability in the Middle East is seen as a positive due to possible production disruptions.
The Dow Jones industrial average was down by nearly 6 points at the end of trades, with Goldman Sachs falling the most. The S&P 500 also finished with small losses, with utilities as a top decliner. The Nasdaq composite followed others’ trend, closing near breakeven.
- Dow Jones Industrial Average: -0.03 percent / 20656.10 points
- Standard & Poor’s 500: -0.08 percent / 2355.54 points
- Nasdaq Composite: -0.02 percent / 5877.81 points
Market participants also paid attention to the last of the US-China summit at Mar-a-Lago resort in Florida. President Trump and his Chinese counterpart Xi Jinping met to discuss a large number of subject, including jobs and trade relations.
Trump said during a press conference that “the relationship developed by President Xi and myself I think is outstanding. We look forward to being together many times in the future. And I believe lots of very potentially bad problems will be going away.”
New York Fed President William Dudley gave a speech at the Princeton Club of New York on Friday, in which he said the government should consider little changes to the Dodd-Frank Act. Dudley also said that cutting Fed’s massive balance sheet could pause interest rate cuts.
Today, investors will be following remarks by Fed Chair Janet Yellen as of 20:10 GMT at the University of Michigan as speculation builds on a June interest rate hike.
Fort Financial Services
- What’s next? – GOLD, OIL 25.04.17
- Fort account
- Gold and euro: overnight vedettes
- What’s next? – GOLD, OIL 24.04.17
- Weekly Outlook: Apr 24 - Apr 28
- What’s next? – GOLD, OIL 21.04.17
- Trading signals - FOREX consolidates ahead of the ...
- Trump rally: is going to stop?
- What’s next? – GOLD, OIL 20.04.17
- Trading signals - Geopolitics restrain trading act...
- 5 things to quickly improve your trading
- What’s next? – GOLD, OIL 18.04.17
- Understanding safe-haven gold
- What’s next? – GOLD, OIL 17.04.17
- Weekly Outlook: Apr 17 - Apr 21
- Trading signals - US dollar is losing ground on Tr...
- 4 basic questions about interest rates
- What’s next? – GOLD, OIL 13.04.17
- Newbie account
- US stock indexes to open lower; Tillerson-Lavrov m...
- Forex or Stocks?
- What’s next? – GOLD, OIL 12.04.17
- Trading signals - Geopolitics in focus as markets ...
- 5 myths about technical trading
- What’s next? – GOLD, OIL 11.04.17
- US equities under pressure over increasing geopoli...
- Political risk in all fronts
- What’s next? – GOLD, OIL 10.04.17
- Weekly Outlook: Apr 10 - Apr 14
- What’s next? – GOLD, OIL 07.04.17
- Trading signals 6.4.2017
- Trump-Xi meeting to set the tone in financial mark...
- What’s next? – GOLD, OIL 06.04.17
- US stock index futures lower; employment data in f...
- 3 steps to stop losing money on forex
- What’s next? – GOLD, OIL 05.04.17
- What is Fort Financial Services?
- US stock indexes to extend losses amid rising poli...
- Trading signals
- Are ETFs right for you?
- What’s next? – GOLD, OIL 04.04.17
- Wall Street futures higher; economic data in focus...
- US key events to watch this week
- What’s next? – GOLD, OIL 03.04.17
- March ( 54 )
- February ( 46 )
- April ( 44 )
- October ( 4 )
- September ( 6 )
- August ( 3 )
- July ( 6 )
- June ( 3 )
- May ( 1 )
- April ( 1 )
- March ( 6 )
- February ( 4 )
- January ( 4 )
- company news
- Fort account
- Fort Financial Services
- fundamental analysis
- how to
- interest rates
- Newbie account
- non farm payrolls
- presidential elections
- technical trading
- trading signals
- upcoming economic events
- volatile markets
- Wall Street
- weekly outlook
- Who are we