iFund- Daily Market Commentary

2019-03-19 10:43
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The Brexit agreement suffered a fiasco in the parliament, and negotiation votes are more than 200 votes were affirmative. The government of Teresa May faced a vote of no confidence initiated by the Labor Party on Wednesday. Trump attempted to bypass the leader of Congressional Democratic to break the deadlock in the lock-in negotiations have failed. The minutes of the Fed’s discount rate meeting showed that most Fed members believe that downside risks are rising before the December FOMC meeting.

  • The Dow Jones Industrial Average closed at 24,065.59 points, increased by 155.75 points or 0.65%. The Standard & Poor’s 500 Index closed at 2,610.30 points, increased by 27.69 points or 1.07%. The Nasdaq index closed at 7,023.83 points, increased by 117.92 points or 1.71%.
  • The minutes of the Fed’s discount rate meeting showed that most Fed members considered the downside risk to rise before the December FOMC meeting.
  • The negotiations failed that Trump attempted to bypass the leader of the Democratic Party to break the deadlock, and Trump also failed to convince any ordinary members of the Democratic Party to participate in the White House meeting on Tuesday.

  • The UK’s FTSE 100 index closed at 6,895.02 points, increased by 40.00 points or 0.58%. The Frankfurt DAX index closed at 10,891.79 points, increased by 35.88 points or 0.33%. The French CAC40 index closed at 4,786.17 points, increased by 23.42 points or 0.49%.
  • The Brexit agreement and the amendment to the Irish reserve plan of Teresa May suffered a shameful defeat in the parliament. The negative votes were more than 200 votes were affirmative. The Labor leader, Corbyn proposed a vote of no confidence in the current government.  Time is setting at 7 pm on Wednesday in London.
  • The president of the European Central Bank, Draghi said that the Eurozone economy is not heading for a recession, but its weak momentum underscores the need for central bank stimulus plans.
  • Japan’s Nikkei 225 index closed at 20,555.29 points, increased by 195.59 points or 0.96%. The yen closed at 108.500 against the US dollar, decreased by 0.313%.
  • Japan’s Work Machinery Industry Association (JMTBA) announced that Japan’s initial value of machine tools in December last year fell further to 18.3%, and has recorded a year-on-year decline for the third consecutive month.
  • The Shanghai Composite Index closed at 2,570.35 points, increased by 34.58 points or 1.36%. The Shanghai and Shenzhen 300 Index closed at 3,127.99 points, increased by 60.21 points or 1.96%. The RMB closed at 6.762 against 1 US dollar, increased by 0.087%.
  • The Office of the US Trade Representative promised the senator that if the Sino-US negotiations fail, an exemption mechanism will be set for the next round of tariffs, allowing importers to apply for exemptions.
  • China’s local government financing platform increased its bond issuance by 37% last year to 2.4 trillion yuan, achieving a new record.

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