|Day's Range||20,452.18 - 20,785.25|
|52 Week Range||20,452.18 - 23,890.20|
Yahoo Finance’s Seana Smith, Dion Rabouin, Rick Newman and Myles Udland on why Italy’s political crisis is spooking the global markets and whether it’s a threat to Europe’s currency.
European stocks end Thursday trading modestly higher after struggling during the session, as investors attempt to dispel trade-war angst between the U.S. and China and as shares of financials and the pharmaceutical companies weighed on the broader market.
European stocks finish in negative territory Wednesday, with health-care and retail companies weighing on the market. Investors struggle to brush aside fresh trade concerns, which held the broader market in a downdraft.
German stocks finish higher Tuesday, reflecting a broadly upbeat European session, as equities in the region took inspiration from gains across the globe.
European stocks finish firmly higher Friday, as the tech group tracked their U.S. counterparts, following Apple Inc.’s record surge on Thursday, which helped to buoy overall market sentiment.
European stocks finish the session firmly lower Thursday as trade tensions between the U.S. and China appears to be experiencing fresh escalation, with Germany’s main benchmark dragged down by concerns about the impact of tariff action.
European stocks fell largely fell Wednesday, with a new trading month getting under way with a fresh wave of corporate earnings reports and a new risk of increased U.S. tariffs on goods imported from China.
European stocks close higher Tuesday, as gains for UBS Group AG and others help the market to enjoy its best day since late June.
European stocks end lower and mark a third straight loss on Monday, as shares of Fiat Chrysler Automobiles after the sudden departure of longtime chief Sergio Marchionne, amid a fresh round of earnings reports.
European stocks fell Friday, with auto and bank shares among those losing ground as U.S. President Donald Trump threatens a significant expansion in tariffs on Chinese imports.
The WTI Oil price fell from $72.98 to $68.68 yesterday despite the inventories data showing a draw of -12.6M barrels which is the biggest since September 2016. Global stocks recover as investors continue to watch trade war developments.
Overall, it was a “cheerleading” speech with Draghi emphasizing the accomplishments of the ECB and the importance of the European Union unifying against the threat of increased protectionism in order to promote economic prosperity.
Some ECB members are said to be troubled about the slow pace of rates hikes, saying that a Sept/Oct 2019 hike is too late.
“It was ironic that Trump had been criticized by the “commentariat” on the details of trade tariffs, but that his wider aim to address global trade imbalances was being overlooked with too much focus on the headline-grabbing tariff threats and trade war fears.”
It’s a busy week ahead, with the markets looking ahead to ECB, FED and BoJ monetary policy, the North Korea – U.S Summit, key stats out of the UK, Europe and the U.S and then there’s the G7 Summit that concluded on the weekend.
The tension that’s been gathering in Italy finally erupted last week as coalition talks stalled and a snap election seemed increasingly likely. Investor confidence plummeted, not only in Italy but in the security of the eurozone and the wider economic community as fears intensified over the possibility of an Italian exit from the EU. Order was somewhat restored towards the end of the week when a statement was released late on Thursday that the coalition would be sworn into power the next day. FXTM Senior Writer Kirsty MacSween attempts to make sense of the chaos.
The political concerns in Italy are spreading across markets causing serious pressure on the banking sector. Global equities have lost about 1.5% in the past 24 hours and risk aversion has continued in early Wednesday trading.
Italy’s two biggest antiestablishment parties — the 5 Star Movement and the League — are again in talks to form a coalition government after an earlier agreement was effectively unwound by Italy’s president this week, according to reports on Wednesday. Party officials are working on coming up with a new candidate to serve as economy minister, Reuters reported, citing an unnamed 5 Star source who also said the two parties are considering expanding its coalition to include the Brothers of Italy, a right-wing party.
The U.S White House has caused an early spark in the Crude Oil market and buyers have put the commodity above 70.00 Dollars. China and the U.S have extended their trade negotiations. Asian markets have been mixed this morning. Inflation data from the U.S will be a key this week.
The U.K and U.S will be open for trading as many nations celebrate Labor Day. Wall Street was cautious on Monday and the U.S Dollar remains very strong.
The broad markets remain in a cautious mode. Asian equities were lower, European equities have been tentative even as the Pound and Euro trade at lower values against the U.S Dollar. US Futures looking for direction before the opening.
Asian equities have started the week cautiously and Europe has been tentative early. The U.S Dollar remains strong in the short term.