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5 Things to Know Before The Opening of the US Markets Today
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Loading...1. Trump travels
U.S. President Donald Trump will hope for some respite from what he described as the "witch hunt" in Washington when he departs today for an eight-day trip to the Middle East and Europe. The tour, which includes meetings with key allies, will challenge the president's diplomatic powers, with Richard Haass, president of the Council on Foreign Relations, saying it will test "whether he is up to the job."
2. Temer vows to fight
Brazil's President Michel Temer declared he won't step down, saying that a full investigation would reveal his innocence on allegations of a cover-up. His comments come after a chaotic day in the country's markets as the currency, stocks and bonds all tumbled, with the real posting its biggest slide since 1999.
3.Iran election
Continuing this morning's presidential theme, voting is underway in Iran's election, which pitches incumbent Hassan Rouhani against hard-line cleric Ebrahim Raisi. The vote is seen as a referendum on Rouhani's policy of engaging with the West, and is the first since the 2015 nuclear deal was signed.
4. Markets stable
The MSCI Asia-Pacific Index rose 0.2 percent, with Japan's Topix index adding 0.3 percent. In Europe, the Stoxx 600 Index was also higher, gaining 0.6 percent. S&P 500 futures pointed to a gain at the open.
5. China stability
With stocks and bonds in China under pressure amid the country's deleveraging campaign, policy makers there have turned to the daily yuan fixing to prevent jitters spreading to the foreign-exchange market. In an effort to bring some stability to the commodities market, the government has decided to open up domestic exchanges to allow more foreign investors in an attempt to help the world's biggest commodity importer.
Source: Bloomberg Pro Terminal
Junior Trader Stefan Panteleev
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