Noble Apex-Daily Market Commentary

2019-01-04 01:00
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3/1/2019

When the new US Congress takes office, Pelosi is the Speaker of the House of Representatives. Trump will negotiate with the congressional leaders to end the government shutdown on Friday. The chairman of the White House Economic Advisory Committee expects the US-China trade war to make more companies suffer like Apple. Less than a week, another Chinese P2P platform, Hangzhou Xinhehui, declared that it could not pay, and investors lost $330 million.

  • The Dow Jones Industrial Average closed at 22,686.22 points, decreased by 660.02 points or 2.83%. The Standard & Poor’s 500 Index closed at 2,447.89 points, decreased by 62.14 points or 2.48%. The Nasdaq index closed at 6,463.50 points, decreased by 202.43 points or 3.04%.
  • The new US Congress was officially launched, and Pelosi became the Speaker of the House of Representatives. The House of Representatives will vote on the Democratic Party’s plan to restart the federal government later on Thursday.
  • Chairman of the White House Council of Economic Advisers: The US-China Trade Warfare has caused more companies to cut their forecasts for the performance like Apple. Many companies that sell in China will experience a downgrade next year until the US-China agreement is reached.

  • The UK’s FTSE 100 index closed at 6,692.66 points, decreased by 41.57 points or 0.62%. The Frankfurt DAX index closed at 10,416.66 points, decreased by 163.53 points or 1.55%. The French CAC40 index closed at 4,611.49 points, decreased by 77.90 points or 1.66%.
  • According to IHS MARKIT/CIPS, after the seasonal adjustment, the UK’s Construction Purchasing Managers’ Index (PMI) fell to 52.8 in the previous year from 53.4, a three-month low.
  • Dallas Fed survey: Oil producers still plan to increase spending in 2019, and 45% of respondents said that the primary goal in 2019 is to increase production.

  • The Japan’s market is closed.
  • Japanese stocks evaporated $938 billion last year. According to three-month option data, the cost of hedging the Nikkei 225 index is close to the highest level since February 2016.

  • The Shanghai Composite Index closed at 2,464.36 points, decreased by 0.93 points or 0.04%. The Shanghai and Shenzhen 300 Index closed at 2,964.84 points, decreased by 4.69 points or 0.16%. The RMB closed at 6.874 against 1 US dollar, decreased by 0.260%.
  • China’s P2P platform, Hangzhou Xinhehui, reportedly claimed that it was unable to pay the total of 2.26 billion yuan of products issued to lenders, and more than 17,000 individual investors were affected.
  • Hong Kong’s retail sales in November rose 1.4% year-on-year, and is expected to grow 4.5%.






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