iFund- Daily Market Commentary

2019-04-11 01:04
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10/4/2019

The minutes of the Fed meeting maintained the dovish tone, stated that maintaining patience while maintaining policy flexibility. The EU purportedly agreed to delay the Brexit date until the end of October. The US Treasury Secretary said that the US and China have reached a consensus on the establishment of an executive office to ensure that the proposed terms of trade are respected by both parties.

    • The Dow Jones Industrial Average closed at 26,157.16 points, increased by 6.58 points or 0.03%. The Standard & Poor’s 500 Index closed at 2,888.21 points, increased by 10.01 points or 0.35%. The Nasdaq index closed at 7,964.24 points, increased by 54.97 points or 0.69%.
    • The minutes of the Fed meeting pointed out that maintaining patience while maintaining policy flexibility. Some participants said that the perception of interest rates may shift in either direction based on economic data performance and other developments.
    • Trump said it will be determined by the Board nominee of Federal Reserve, Herman Cain himself whether he can win the Senate nomination confirmation.

    • The UK’s FTSE 100 index closed at 7,421.91 points, decreased by 3.66 points or 0.05%. The Frankfurt DAX index closed at 11,905.91 points, increased by 55.34 points or 0.47%. The French CAC40 index closed at 5,449.88 points, increased by 13.46 points or 0.25%.
    • British Prime Minister Theresa May hopes to leave the European Union immediately after the British Parliament agrees to the agreement. The UK is still likely to leave the EU before the election for the  European Parliament on May 23.
    • The European Central Bank kept interest rates unchanged, and Draghi warned that the economy in euro-zone is facing a risk agglomeration, continued the slowdown throughout 2019.

      • Japan’s Nikkei 225 index closed at 21,687.57 points, decreased by 115.02 points or 0.53%. The yen closed at 111.220 against the US dollar, increased by 0.063%.
      • The Japan Machine Tool Builder’s Association (JMTBA) announced that the initial value of machinery tools orders in Japan fell by 28.5% year-on-year in March, and recorded a year-on-year decline for the sixth consecutive month.

      • The Shanghai Composite Index closed at 3,241.93 points, increased by 2.27 points or 0.07%. The Shanghai and Shenzhen 300 Index closed at 4,085.85 points, increased by 10.42 points or 0.26%. The RMB closed at 6.718 against 1 US dollar, decreased by 0.086%.
      • According to informed sources, Chinese and American negotiators are discussing the addition of relevant concessions in the field of cloud computing to the bilateral trade agreements, which will expand the Chinese market access of foreign companies.
      • China will release inflation data for March today. It is expected that the CPI growth rate will return to above 2%, ending the continuous slowdown since October last year.

 



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