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- Varchev Finance: Trading day in one post 20.11.2017
Varchev Finance: Trading day in one post 20.11.2017
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Loading...Asian stock market: Asia markets were mostly lower on Monday, following a decline in U.S. equities last Friday on lingering concerns about American tax reform. In Australia, the ASX 200 fell 0.18 percent to 5,946.8. The heavily-weighted financial subindex was down 0.37 percent, while the energy sector trimmed morning gains to rise 0.04 percent. Japan's Nikkei 225 was down 0.52 percent, while the Topix index fell 0.16 percent. In South Korea, the Kospi gave up early morning gains to trade fractionally lower at 2,532.91. Chinese markets traded lower, with the Shanghai composite down 0.87 percent while the Shenzhen composite fell 0.5 percent. In Hong Kong, the Hang Seng index traded down 0.14 percent.
Currency market: The yen was little changed at 112.02 per dollar. The pound was steady at $1.3200. Bitcoin rose more than 4%. Bitcoin topped $8,000 for the first time as investors set aside technology concerns that saw it tumble as much as 29 percent this month. The world’s largest cryptocurrency’s rise is becoming too big for many to ignore with three separate slumps of more than 25 percent all giving way to subsequent rallies, even as skeptics warn of a bubble waiting to pop. The digital currency is gaining the acceptance of professional investors, with CME Group Inc., the world’s biggest exchange, poised to start offering futures trading on bitcoin next month. The euro sank against the dollar after talks on forming German Chancellor Angela Merkel’s next government collapsed. In doubt now is the future of policies in Europe’s largest economy with the chance of another election growing. The single currency slid 0.5 percent to $1.1734 as of 8:40 a.m. in Tokyo.
Commodities market: West Texas Intermediate crude was up 0.2% to $56.63 a barrel. It gained 2.6% on Friday. Gold was steady at $1,291.97 an ounce, after advancing the past two weeks.
U.S. Stock Market: U.S. stocks fell on Friday as worries about tax reform lingered on Wall Street. The Dow Jones industrial average declined 100.12 points to close at 23,358.24, with Wal-Mart leading decliners on the 30-stock index. The retailer's stock rallied to an all-time high on Thursday on strong quarterly results. On Friday, it fell more than 2 percent. The S&P 500 finished 0.2 percent lower at 2,578.85, with utilities and information technology as the worst-performing sectors. The Dow and S&P 500 also posted their first two-week losing streak since August. The Nasdaq composite fell 0.1 percent to 6,782.79 as shares of Amazon, Netflix and Alphabet declined. A 1 percent gain in Tesla helped offset some of the losses. The index, however, still managed to close higher for the week.
European Stock Market: European indices will start the first session of the trading week with declines. German DAX will open 55 points lower at 12,919; French CAC will start 22 points in negative territory at 5,292; and UKX shed 11 points. Today investors will focus on the earnings results from the companies and also will watch closely the series of announcements from ECB, including its president Mario Draghi.
Economic calendar for the European and U.S. trading session:
09:00 Europe - German PPI
14:15 Europe - ECB's Lautenschlaeger Speaks
16:00 Europe - ECB's Mario Draghi Speaks
16:15 Europe - ECB's Constancio Speaks
18:00 Europe - ECB's Mario Draghi Speaks
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