iFund- Daily Market Commentary

2019-03-19 10:43
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10/1/2019

Federal Reserve Chairman Powell and a number of Fed officials claimed they will keep patient with the interest rate policy. There is no sign that the US government shutdown will be ended, and Trump said he may announce a  national emergency because of the southern border issue. The European Central Bank said that the interest rate guidance would be the primary tool for future policy adjustments after the end the bond-buying program.

  • The Dow Jones Industrial Average closed at 24,001.92 points, increased by 122.80 points or 0.51%. The Standard & Poor’s 500 Index closed at 2,596.64 points, increased by 11.68 points or 0.45%. The Nasdaq index closed at 6,986.07 points, increased by 28.99 points or 0.42%.
  • Federal Reserve Chairman Powell and a number of Fed officials claimed they will keep patient with the interest rate policy in order to assess the impact of global risks on the domestic economy.
  • Trump said he may announce a  national emergency, with an aim to obtain funds for border security.

  • The UK’s FTSE 100 index closed at 6,942.87 points, increased by 36.24 points or 0.52%. The Frankfurt DAX index closed at 10,921.59 points, increased by 28.27 points or 0.26%. The French CAC40 index closed at 4,805.66 points, decreased by 7.92 points or 0.16%.
  • The minutes of the ECB policy meeting showed that the interest rate guidance would be the primary tool for future policy adjustments after the end the bond-buying program. Officials believe that the action of lowering the 2019 economic growth forecast is to acknowledge the risk of the euro zone is increasing.
  • The leader of the British Labor Party said that the Brexit negotiations may extend. The official view of the British government is that the UK will leave the EU on March 29, regardless of whether an agreement is reached.
  • Japan’s Nikkei 225 index closed at 20,163.80 points, decreased by 263.26 points or 1.29%. The yen closed at 108.130 against the US dollar, increased by 0.703%.
  • Japanese Prime Minister Shinzo Abe said that the Japanese government is using various channels to communicate with North Korea,  it may possibly include holding a summit with North Korean leader Kim Jong-un.
  • The Shanghai Composite Index closed at 2,535.10 points, decreased by 9.25 points or 0.36%. The Shanghai and Shenzhen 300 Index closed at 3,072.69 points, decreased by 5.79 points or 0.19%. The RMB closed at 6.785 against 1 US dollar, increased by 0.687%.
  • The Sino-US trade war caused a great impact on China and US’s economy. China’s exports to the United States fell sharply in the fourth quarter of last year, and the impact of US exports to China was even more serious.
  • China’s Ministry of Industry and Information Technology said that it will be lowered the manufacturing VAT rates in this year. Besides, China will carry out 5G commercial promotion in 2019, and some regions will be allowed to issue 5G temporary licenses.




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