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Top 4 things you need to know about the market on Tuesday
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Loading...1. The Deputy Prime Minister of China confirmed his participation in the trade negotiations
The Chinese Commerce Department finally confirmed on Tuesday that Deputy Prime Minister Liu He will attend the Washington talks on 9-10 May, which calmed investors that the negotiations were not completely failed.
However, US sales agent Robert Lighthizer and secretary of trade Steven Mnuchin insisted that China is not meeting its commitments and that plans to raise Chinese import tariffs from Friday will continue.
China's foreign ministry said on Tuesday that tariffs will not resolve issues in the ongoing trade dispute.
2. US Futures remain in the red because of the trade dispute
U.S Futures remain red on Tuesday due to growing tensions between US-China.
Dow's futures dropped by 136 points, or 0.5%, while S & P 500 futures fell by 15 points, or 0.5%, and Nasdaq 100 futures fell by 45 points or by 0.6%.
Wall Street finished in red on Monday, but the fact that Dow managed to cut losses by more than 300 points, calmed investors.
3. Oil juggles trade and confusion in Iran
Oil prices remained low on Tuesday as investors balanced the risks of trade disputes between the US and China against increased tensions in the Gulf.
Trump's threat of rising tariffs on Chinese imports has put pressure on oil, reviving the fears that the trade war will reduce global growth and hence oil demand as well.
On the other hand, Barak Ravid, a diplomatic correspondent of Channel 13 of Israel, said he had transmitted information to the United States for alleged Iranian conspiracy to attack US interests in the Persian Gulf.
The information, according to the report, is the reason for the decision by the US National Security Adviser John Bolton to send a group of aircraft carriers and bombers to the area.
4. The political upheaval in Turkey is pushing the lyre into a new crisis
Turkish pound fell to an eight-month low after the country's electoral authorities canceled the results of the last municipal elections in Istanbul.
The move has sparked immediate street protests in Turkey's largest city against President Recep Tayyip Erdogan's government, and at the beginning of Tuesday's trade, the dollar reached £ 6.1795.
This is the highest level since last September, when the rise in dollar interest rates and the heavy schedule for repaying foreign debt threatened to overthrow the country's banking system.
Trader Milko Zashev Read more:
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