iFund- Daily Market Commentary

2019-05-03 01:17
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2/5/2019

The White House spokesperson said that Trump and Xi Jinping will decide whether to meet after the economic and trade consultations next week. The Bank of England decided to keep interest rates unchanged. If Brexit is successfully resolved, the central bank will accelerate the pace of interest rate hikes. Global central banks bought large amount of gold, and the total amount of gold purchased in the first quarter of 2019 hit the highest level since 2013.

    • The Dow Jones Industrial Average closed at 26,307.79 points, down 122.35 points or 0.46%. The Standard & Poor’s 500 Index closed at 2,917.52 points, down 6.21 points or 0.21%. The Nasdaq index closed at 8,036.77 points, down 12.87 points or 0.16%.
    • White House spokesman Sanders said that Trump and Xi Jinping will decide whether to meet after the economic and trade consultations next week in order to finalize the trade agreement.
    • Stephen Moore has withdrawn his name from Fed consideration. The announcement came less than two hours after Mr. Moore told The Wall Street Journal and other news outlets that he would continue to seek the nomination.
    • The UK’s FTSE 100 index closed at 7,351.31 points, down 33.95 points or 0.46%. The Frankfurt DAX index closed at 12,345.42 points, up 1.34 points or 0.01%. The French CAC40 index closed at 5,538.86 points, down 47.55 points or 0.85%.
    • The Bank of England decided to keep interest rates unchanged. President Carney said that if Brexit is successfully resolved, the central bank will raise interest rates at a pace faster than investors currently expect.
    • The decline rate of euro zone’s manufacturing index has slowed down in April, as the pace of recession in Italy has slowed down significantly and the French manufacturing index has ended its decline.
    • The Japanese market is closed for holidays.
    • Japan’s Ministry of Internal Affairs and Communications announced that Tokyo’s consumer price index (CPI) accelerated from a 0.9% increase to a 1.4% increase in April, the highest level since October last year, and exceeded market expectations of 1.1%.

    • The Chinese market is closed for holidays.
    • According to Bloomberg data, technology companies have raised USD 3.4 billion through the market this year, almost twice as much as that in 2018, hitting a record high.
    • Hong Kong’s GDP in the first quarter of this year grew by 0.5% year-on-year, far below from the estimation of economist of 1.9%, hitting the lowest level since 2009.








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