|Day's Range||10,788.09 - 10,927.37|
|52 Week Range||10,762.41 - 13,596.89|
Wall Street capped a turbulent week of trading Friday with the biggest weekly loss since March as traders fret over rising trade tensions between Washington and Beijing and signals of slower economic growth.
Oil prices continued to fall on Friday, as the Organization of the Petroleum Exporting Countries (OPEC) struggled to come up with an agreement on cutting oil production. West Texas Crude oil futures for January slumped 0.43% to $51.27 a barrel, while Brent crude futures, the benchmark for oil prices outside the U.S., rallied 0.17% to $60.16. The Thursday session of the OPEC meeting in Vienna ended without any decision on cutting oil supply, as Iran seeks an exemption from any cuts due to U.S. sanctions which have already weighed on its exports.
Global stocks are mixed, with Europe bouncing from two-year lows and Asia grinding higher, but U.S. equity futures stuck in the red ahead of Friday's November employment report. Economist expect U.S. employers added 200,000 new jobs last month, with wages rising by an annual 3.1%. Fed Chair Jerome Powell says U.S. labor market remains strong, putting the new "data dependent" Fed in the spotlight ahead of today's non-farm payroll reading.
The pan-European Stoxx 600 was up over 1.6 percent by the mid-afternoon, with all sectors and major bourses in positive territory. Market focus is largely attuned to tensions between the world's two largest economies, after the arrest of Huawei's chief financial officer threatened to derail progress in U.S.-Sino trade talks. Germany's Fresenius SE tumbled to the bottom of the index after the healthcare group slashed its medium-term guidance late Thursday.
Dax likely to trade range bound with positive bias as Asian equities saw relatively positive price action amid cautious investor stance ahead of US NFP.
U.S. stocks clawed most of their way back from a deep slide Thursday that at one point had wiped out the market's gains for the year.
EUROPE MARKETS European stocks ended sharply lower on Thursday, marking their worst one-day performance since June 2016, amid slumping oil prices, concerns about global economic growth and the arrest of a high-profile Huawei executive aggravating the resurfaced U.
Germany's benchmark stock index slumped into bear market territory Thursday, following along with steep declines for global stocks, amid concerns that the arrest of the CFO of Huawei Technologies, the world's biggest smartphone maker, could end the uneasy trade war truce between Washington and Beijing. The DAX performance index was marked 3.2% lower by late-afternoon trading in Frankfurt and quoted at 10,842.99 points, taking its decline from the January 23 peak to just over 20%, a move puts the broadest measure of shares in Europe's largest economy into bear market territory. sliding 3.75% on concern that a re-escalation of the U.S.-China trade war could put barriers to exports to Germany's two biggest markets.
Another gap in the DAX, this time a bearish one. We start Thursday on the important mid-term horizontal support, which may help to lift the price higher. Why? Because that would be the gap closing movement and we all know that gaps love to be closed, especially on the DAX. The sentiment in the long-term remains negative but in the short-term, we can see this light in the tunnel.
DAX to trade with bearish bias for third consecutive trading session but downside could be limited owing to solid fundamental support.
The pan-European Stoxx 600 fell more than 2.2 percent during mid-morning deals, with all and major bourses sectors in negative territory. Market focus is largely attuned to the arrest of a top executive at Chinese tech giant Huawei, amid investor concern that the news could derail progress in U.S.-Sino trade talks. European stocks retreated Thursday morning, amid fears of a fresh flare-up in tensions between the world's two largest economies.
Gains followed China’s announcement that it will swiftly follow through on trade pledges made at the weekend meeting of Presidents Donald Trump and Xi Jinping. Given the market attention on inversions of parts of the U.S. yield curve, gains when Wall Street reopens Thursday may be limited.
Yesterday, the price broke the horizontal resistance created by the last week’s tops along with the upper line of the symmetric triangle. As we can see now, that is a false breakout pattern, which brings us a proper sell signal. DAX also has a false breakout pattern.
European stocks fell early Wednesday, with banks and oil majors leading the declines, as investors remained on edge a day after the worst day for U.S. equities in a month. The Stoxx Europe 600 index fell 1.2% to 354, with the German DAX 30 index down 1.4% to 11,182, the French CAC 40 index off 1.4% to 4,909.19 and the FTSE 100 index down 1.3% to 19,166.24. The Dow industrials fell 800 points on Tuesday after investors got spooked by a flattening yield curve and concern that weekend U.S.-China trade talks have been overhyped. However, while Asian markets also fell Wednesday, losses stabilized after a statement from China's Ministry of Commerce, which described weekend trade talks as "very successful," and said it would implement measures agreed very soon. The British pound continued to weaken, trading at $1.2712 from $1.2720 late Tuesday after a series of defeats in parliament for U.K. Prime Minister Theresa May over Brexit and a European court ruling that Brexit was reversible. Oil prices dropped ahead of this week's OPEC meeting, and that was pressuring Europe's heavyweight oil producers. West Texas Intermediate crude fell 1.8% to $52.28 a barrel and Brent crude dropped 1.7% to $61 a barrel. U.S. markets will close Wednesday to mark a national day of mourning for the death of former President George H.W. Bush
DAX index is expected to move with bearish bias today owing to bearish investor sentiment on worries of global economic slowdown, Brexit proceedings and cues from wall street rout which has triggered a bearish price action in Asian equities.
The pan-European Stoxx 600 slipped around 0.8 percent during mid-morning deals, with almost all sectors and major bourses in negative territory. Market focus is largely attuned to global trade developments, amid rising doubts that the world's two largest economies will be able to secure a comprehensive trade deal during a cease-fire on tariffs. Trading volumes are expected to be relatively low on Wednesday, with U.S. stock markets closed as citizens observe a national day of mourning for President George H. W. Bush.
FT subscribers can click here to receive Market Forces every day by email. Given the inferior performance of global stocks versus the S&P 500 so far this year, one can argue that Wall Street is perhaps recognising that there are limits to US exceptionalism. Beyond the US, it has been looking pretty gloomy for many global equity markets since the summer.
Asian stocks slid across the board on Wednesday, dragged down by Wall Street's tumble as sharp declines in long-term U.S. Treasury yields and resurgent trade concerns stoked investor worries about global economic growth. Global equities have been shaken as a flattening U.S. Treasury yield curve fans worries about a recession, and on growing doubts that Washington and Beijing will be able to clinch a substantive trade deal during a temporary cease-fire agreed at the weekend. MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.5 percent.
Asian stocks sank Wednesday after Wall Street plunged amid confusion about what Washington and Beijing agreed to in a tariff cease-fire. KEEPING SCORE: Hong Kong's Hang Seng index fell 1.6 percent to 26,840.74 ...
The pan-European Stoxx 600 was down around 0.4 percent during mid-morning deals, with most sectors and major bourses in negative territory. Market focus is largely attuned to global trade developments, after news of a temporary trade truce between the U.S. and China had sparked a global rally in equity markets in the previous session. Meanwhile, oil prices continued to rise after surging more than 4 percent at the start of the trading week.
Asian shares were mostly lower Tuesday as investors questioned if a 90-day truce in a tariffs battle will allow the U.S. and China to resolve a range of issues from technology development to trade. WALL STREET: A cease-fire in a trade dispute between the world's two largest economies lifted major U.S. indexes on Monday. U.S-CHINA TRUCE: On Saturday, a meeting between U.S. President Donald Trump and Chinese President Xi Jinping ended with a verbal agreement to hold off on further tariffs for at least 90 days.
Miners, autos, tech, and oil stocks surged on Monday, driving Europe's main benchmarks up strongly after U.S. and Chinese leaders agreed a temporary truce in a trade war. U.S. President Donald Trump and Chinese President Xi Jinping reached a truce at the G20 meeting on Saturday, halting additional tariffs and agreeing to fresh talks aimed at reaching an agreement within 90 days.
Global stocks surge as White House says U.S. and China reach 90-day truce on tariffs, Beijing says "important consensus" reached on trade at G20 summit in Argentina. Oil rises more than 5% on news that OPEC will pursue 2019 production cuts at this week's meeting in Vienna, while U.S.-China trade breakthrough boosts bullish sentiment in beaten-down commodities. European stocks gain more than 1% as trade concerns ease, Italy budget crisis subsides, and German car stocks roar ahead following U.S.-China detente.