Economic adviser of Trump said that the US and China are negotiating at every level . The United Kingdom and the European Union reached an agreement on the text of the Brexit Agreement, in which will accept the review of British Cabinet. In spite of EU opposition, the Italian government decided to maintain its economic growth and deficit rate targets unchanged next year.
- The Dow Jones Industrial Average closed at 25,286.49 points, decreased by 100.69 points or 0.40%. The S&P 500 Index closed at 2,722.18 points, decreased by 4.04 points or 0.15%. The NASDAQ index closed at 7,200.88 points, decreased by 0.01 points or 0.00%.
- Kudlow, the White House economic adviser, said that on the eve of the meeting between Trump and Xi Jinping, the US and Chinese governments have resumed contacts on trade issues at all levels.
- The budget deficit of the new fiscal year in the United States jumped to $100 billion, which is 60% more than the same period of the last year.
- The UK’s FTSE 100 index closed at 7,053.76 points, increased by 0.68 points or 0.01%. The Frankfurt DAX index closed at 11,472.22 points, decreased by 146.78 points or 1.30%. The French CAC40 index closed at 5,101.85 points, decreased by 42.76 points or 0.85%.
- The United Kingdom and the European Union reached an agreement on the text of the Brexit agreement. Theresa May, the British Prime Minister, sent it to the Cabinet for review. The cabinet ministers will meet on Wednesday afternoon to discuss about it.
- In spite of EU opposition, the Italian government decided to maintain its economic growth and deficit rate targets unchanged.
- Japan’s Nikkei 225 index closed at 21,810.52 points, decreased by 459.36 points or 2.06%. The Japanese YEN closed at 114.080 against the US dollar, decreased by 0.131%.
- Japan’s M2 money supply in October rose slightly to 2.7% year-on-year, which is same as the market expectations.
- The Shanghai Composite Index closed at 2,654.88 points, increased by 24.36 points or 0.93%. The Shanghai and Shenzhen 300 Index closed at 3,237.38 points, increased by 32.24 points or 1.01%. The RMB closed at 6.958 against 1 US dollar, increased by 0.105%.
- Li Keqiang, Chinese Premier claimed that China will not use excessive stimulus measures to boost economic growth, but will use strong measures to revive the market.
- The growth of China’s new RMB loans and aggregate financing to the real economy in October were less than the expectations.