iFund- Daily Market Commentary

2019-03-19 10:44
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8/1/2019

The US government has been shutdown by 18 day, Trump will issue a national televised speech at 9:00 pm EDT on Tuesday to explain the reasons for the construction of the border wall, and then it will broadcast the response of Democratic Party. It is reported that Trump wants to declare a national emergency in order to raise funds for building walls. The World Bank lowered its estimation on global growth.

  • The Dow Jones Industrial Average closed at 23,787.45 points, increased by 256.10 points or 1.09%. The Standard & Poor’s 500 Index closed at 2,574.41 points, increased by 24.72 points or 0.97%. The Nasdaq index closed at 6,897.00 points, increased by 73.53 points or 1.08%.
  • The US government has been shutdown by 18 day, it is reported that Trump wants to declare a national emergency in order to raise funds for building walls.
  • Trump complained that the speed of Fed in raising the interest rate level was too fast.

  • The UK’s FTSE 100 index closed at 6,861.60 points, increased by 50.72 points or 0.74%. The Frankfurt DAX index closed at 10,803.98 points, increased by 56.17 points or 0.52%. The French CAC40 index closed at 4,773.27 points, increased by 54.10 points or 1.15%.
  • The British Parliament’s voting plan for the Brexit agreement will be held on January 15th, and the date is still needed to be confirmed on Wednesday.
  • Since the trade and investment growth has slowed down and the interest rate hike, the World Bank expects the global economic growth will slow down to 2.9% this year, 0.1% lower than the forecast on June.

  • Japan’s Nikkei 225 index closed at 20,204.04 points, increased by 165.07 points or 0.82%. The yen closed at 108.720 against the US dollar, decreased by 0.340%.
  • According to data from the Bank of Japan, Japan’s output gap in the third quarter of 2018 fell to 1.24%, which is lower than the 1.6% of the second quarter of last year, but the value has been positive for eight consecutive quarters.
  • The Shanghai Composite Index closed at 2,526.46 points, decreased by 6.63 points or 0.26%. The Shanghai and Shenzhen 300 Index closed at 3,047.70 points, decreased by 6.60 points or 0.22%. The RMB closed at 6.853 against 1 US dollar, decreased by 0.006%.
  • A US negotiator revealed that the Sino-US trade negotiations will extend to Wednesday. Trump posted  a twitter, claiming that the negotiations between China and US have progressed smoothly. Also, it is reported that Trump hopes to reach a trade agreement with China soon in order to boost the market growth.
  • According to Reuters, in the case of Chief Financial Officer Meng Xizhou, Huawei seems to be associated with companies in Iran and Syria.









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