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Wall Street snaps winning streak ahead of Trump-Xi meeting
US markets closed lower yesterday, as the DJ30, SPX500 and NSDQ100 all finished in the red. Despite having a positive reaction to the release of minutes from the latest Fed meeting earlier in the day, the marked later dipped. The momentum-shift is attributed to reports that White House advisor Peter Navarro, a long-time opposer of giving China any leeway in US trade, will be attending the Trump-Xi dinner at the G20 summit in Argentina, which starts today. Despite the losses, some big tech companies, such as Facebook, Netflix and Google registered gains.
25349.5 3.1 (0.01%)
138.7 1.94 (1.42%)
288.55 5.9 (2.09%)
Today’s highlights: Bitcoin holds on to recent gains
- Cryptoassets seen mixed: Following several days of gains, 4 of the top 10 cryptoassets reverted to losses over the past 24 hours. Bitcoin remained positive, climbing back to its highest price levels of the week. Stellar registered the largest gains of the top 10 cryptos, rising 7% and passing Bitcoin Cash to become the world’s 4th-largest crypto at the time of writing.
- Asia seen higher: Despite US-China trade concerns, markets in the East were in the green this morning, as the China50 index climbed more than 1% and the HKG50 and JPN225 also registered gains.
- Volatility expected for CAD: The monthly GDP reports is expected to be released at 13:30 GMT, potentially impacting the Canadian Dollar.
- Oil continues slow and steady climb: Ahead of the OPEC meeting happening next week, in which oil producers are expected to announce an output cut, oil prices showed small gains yesterday and this morning.
- Europe opens mixed: While the UK100 opened 19 points lower, the GER30 and FRA40 opened 14 and 9 points higher, respectively.
0.1637 0.0071 (4.53%)
1.3285 0.0007 (0.05%)
51.51 0.18 (0.35%)
* Cryptoassets are a highly volatile unregulated investment product. No EU investor protection. Your capital is at risk.
* Please note that due to market volatility, some of the prices may have already been reached and scenarios played out.
* The information above is not investment advice.