The Washington deadlock has increased the risk of the US government’s suspension. Congress needs to reach an agreement before Friday in order to keep the US government open. Nobel Prize winner Krugman believes that the US economy is entering into recession. The economic growth rate of UK in 2018 hit the lowest level within the past six-year.
- The Dow Jones Industrial Average closed at 25,053.11 points, decreased by 53.22 points or 0.21%. The Standard & Poor’s 500 Index closed at 2,709.80 points, decreased by 1.92 points or 0.07%. The Nasdaq index closed at 7,307.91 points, decreased by 9.71 points or 0.13%.
- The Washington deadlock has increased the risk of the US government’s suspension in this weekend. Moody’s warned that it would bring even greater risks if the debt ceiling would resume again in early March.
- The report of US Defense Intelligence Agency stated that the United States has a strategic advantage in space technology, but China and Russia are developing satellite interference technology to challenge the United States.
- The UK’s FTSE 100 index closed at 7,129.11 points, decreased by 57.93 points or 0.82%. The Frankfurt DAX index closed at 11,014.59 points, decreased by 107.81 points or 0.99%. The French CAC40 index closed at 5,014.47 points, decreased by 52.83 points or 1.06%.
- Britain’s economic growth rate in 2018 hit the lowest level within the past six years. Central Bank President Carney will have a speech on Tuesday and it may be the last speech of Carney before the UK officially leaves the EU. In the speech, Carney will discuss the latest developments in the global economy and the economic outlook.
- British Prime Minister Theresa May will issue a statement to the parliament on the progress of Brexit on Tuesday, and the parliament will not make a decisive vote on the Brexit agreement this week.
- Japan’s stock market is closed for one day.
- According to the Conference Board, Japan’s leading indicator (LEI) fell by 0.4% in December to 97.1, the lowest level within the last year.
- The Shanghai Composite Index closed at 2,653.90 points, increased by 35.66 points or 1.36%. The Shanghai and Shenzhen 300 Index closed at 3,306.47 points, increased by 59.07 points or 1.82%. The RMB closed at 6.790 against 1 US dollar, decreased by 0.670%.
- On the eve of the US-China trade negoiation, two US warships entered the sea of China’s declared sovereignty in the Nansha Islands. The Chinese Foreign Ministry said that the United States is not suppose to do that.
- China Foreign Exchange Bureau claimed that the global economic and financial environment is complicated and severe in the future, but the Chinese economy will continue its long-term development trend, and the foreign exchange reserve scale is expected to remain stable throughout the volatility.