iFund- Daily Market Commentary

2019-04-10 01:26
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9/4/2019

The IMF cut its economic outlook for the third time in six months and lowered its global growth forecast to the lowest since the financial crisis. The EU may force Britain to accept a one-year delay in Brexit, and Teresa May’s position as prime minister may be at stake. The EU claims to have made progress in promoting China’s open market.

  • The Dow Jones Industrial Average closed at 26,150.58 points, decreased by 190.44 points or 0.72%. The Standard & Poor’s 500 Index closed at 2,878.20 points, decreased by 17.57 points or 0.61%. The Nasdaq index closed at 7,909.28 points, decreased by 44.61 points or 0.56%.
  • Trump said on Twitter that the EU took advantage of the United States for many years in trade and this issue will soon stop.
  • According to informed sources, Barr, the US Attorney General, teamed up to review the FBI’s actions in the Trump investigation.
  • The UK’s FTSE 100 index closed at 7,425.57 points, decreased by 26.32 points or 0.35%. The Frankfurt DAX index closed at 11,850.57 points, decreased by 112.83 points or 0.94%. The French CAC40 index closed at 5,436.42 points, decreased by 35.36 points or 0.65%.
  • The deadline for Brexit will be postponed for up to a year, which is a defeat for Teresa May, and the position of the British prime minister may be at stake.
  • The EU is preparing to impose retaliatory tariffs on US subsidies to Boeing. After Washington has vowed to counter the EU’s support for Airbus by tariffs, the transatlantic trade tension has escalated significantly.
  • Japan’s Nikkei 225 index closed at 21,802.59 points, increased by 40.94 points or 0.19%. The yen closed at 111.290 against the US dollar, increased by 0.162%.
  • According to the Conference Board, after the seasonal adjustment, Japan Leading Index for February (LEI) rebounded by 0.4% (previous value down 0.4%) to 96.2.
  • The Shanghai Composite Index closed at 3,239.66 points, decreased by 5.15 points or 0.16%. The Shanghai and Shenzhen 300 Index closed at 4,075.43 points, increased by 18.20 points or 0.45%. The RMB closed at 6.712 against 1 US dollar, increased by 0.109%.
  • At the EU-China summit in Brussels on Tuesday, the EU said that China made important concessions on restricting domestic industrial subsidies and promoting market access for foreign companies.
  • The US is urging allies to ban network products in countries without independent court systems, thereby preventing China’s Huawei and ZTE from participating in the construction of 5G networks in Europe and Asia.



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