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Noble Apex-Daily Market Commentary

2018-11-29 01:13
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Powell, the Federal Reserve Chairman said the interest rate was slightly below the neutral level, it implies that the the number of interest rate rise will be reduced, and the Fed will release the November policy meeting minutes on Thursday. The European Central Bank will determine the new long-term loan plan in December. The Bank of England warned that a disorderly Brexit could trigger a severe recession. The IMF warned that the global economic outlook has deteriorated further.

  • The Dow Jones Industrial Average closed at 25,366.43 points, increased by 617.70 points or 2.50%. The Standard & Poor’s 500 Index closed at 2,743.79 points, increased by 61.62 points or 2.30%. The Nasdaq index closed at 7,291.59 points, increased by 208.89 points or 2.95%.
  • Powell, the Federal Reserve Chairman, expected that the US economic prospect will be stable and the current interest rate is slightly below the neutral level. The economic impact of a gradual rate rise is uncertain.
  • The demand of U.S. 7-year Treasury bond is strong, with a bid dividend dividend yield of 2.974%.
  • The UK’s FTSE 100 index closed at 7,004.52 points, decreased by 12.33 points or 0.18%. The Frankfurt DAX index closed at 11,298.88 points, decreased by 10.23 points or 0.09%. The French CAC40 index closed at 4,983.24 points, increased by 0.09 points or 0.00%.
  • Informed officials revealed that the European Central Bank is unlikely to announce a new long-term bank loans when it formulates the monetary policy next month, and it is still expected to confirm the end of net asset purchases.
  • The Bank of England warned that the UK’s disorderly Brexit could trigger a severe economic downturn. In the worst case, the UK economy will shrink by 8% in a year and the real estate prices will decrease by 33% .

  • Japan’s Nikkei 225 index closed at 22,177.02 points, increased by 224.62 points or 1.02%. The yen closed at 113.770 against the US dollar, decreased by 0.158%.
  • According to the data from Nikkei/Markit, Japan’s PMI hit a two-year low in November, decreased from 52.9 in October to 51.8.

  • The Shanghai Composite Index closed at 2,601.74 points, increased by 27.06 points or 1.05%. The Shanghai and Shenzhen 300 Index closed at 3,178.93 points, increased by 41.69 points or 1.33%. The RMB closed at 6.954 against 1 US dollar, decreased by 0.075%.
  • Xi Jinping, the Chinese President, said that further globalization is determined by the extent of effort that countries put on the global trading system. Failure to do so will lead to new trade barriers between countries.
  • The Sino-US summit meeting is coming, the cost of easing the risk of Asian exchange rate fluctuations has soared since last Friday, including the RMB and the Korean won.

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