A number of Fed officials warned of US economic risks and continued to emphasize patience on the path of raising interest rates. It is reported that the British government party whip told the cabinet of the UK next week that the outcome of the Brexit vote was unpredictable. German intelligence agencies are reportedly trying to ban Huawei from entering the country’s 5G network.
- The Dow Jones Industrial Average closed at 25,806.63 points, decreased by 13.02 points or 0.05%. The Standard & Poor’s 500 Index closed at 2,789.65 points, decreased by 3.16 points or 0.11%. The Nasdaq index closed at 1,576.36 points, decreased by 1.21 points or 0.02%.
- Boston Fed President Rosengren hinted that the Fed’s will be held in abeyance or not continue to meet. Kashkari, the Minneapolis Fed President also said to avoid unnecessary interest rate hikes and will focus on maintaining the US economic expansion.
- The US ISM service industry index was stronger than expected in February, the biggest increase in the past year, showing signs of economic health.
- The UK’s FTSE 100 index closed at 7,183.43 points, increased by 49.04 points or 0.69%. The Frankfurt DAX index closed at 11,620.74 points, increased by 28.08 points or 0.24%. The French CAC40 index closed at 5,297.52 points, increased by 10.95 points or 0.21%.
- The British government party whip allegedly told the cabinet that the vote on the Brexit agreement next week is unpredictable, and the votes of the two sides will be in about the same.
- German intelligence agencies are reportedly trying to ban Huawei from entering the country’s 5G network. Although the cabinet found that it is infeasible to completely ban Huawei in law, government officials hope to obtain the means to allow them to block the use of Huawei equipment.
- Japan’s Nikkei 225 index closed at 21,726.28 points, decreased by 95.76 points or 0.44%. The yen closed at 111.950 against the US dollar, decreased by 0.080%.
- The Bank of Japan is reported to discuss the downgrade of industrial production and exports next week.
- The Shanghai Composite Index closed at 3,054.25 points, increased by 26.67 points or 0.88%. The Shanghai and Shenzhen 300 Index closed at 3,816.01 points, increased by 21.91 points or 0.58%. The RMB closed at 6.703 against 1 US dollar, decreased by 0.048%.
- China’s credit market ushered in the worst opening year, and the default in January and February hit a record high in the same period.
- Central Daily News of South Korea quoted an unnamed diplomat as saying that Chinese President Xi Jinping might visit North Korea in March.