Market News & Analysis
European Equity Market Handover: ‘Wealth’ of Trump tweets dents attempted bounce
Ken Odeluga May 10, 2019 11:29 PM
Stock market snapshot as of [10/5/2019 12:49 PM]
- The @realDonaldTrump Twitter feed has been very active, taking some wind out of the sails of Friday’s stock market bounce
- European shares managed to stabilise with the help of standout gainers like Germany’s ThyssenKrupp, though U.S. markets were thrown off balance
- The U.S. President has been keen to push his view—not backed by any normal understanding of economics—that tariffs will “bring in FAR MORE wealth” to the U.S. “than even a phenomenal” trade deal
- Wall Street futures managed to reach positive territory earlier, but have now succumbed to Trump’s onslaught of well over 30 tweets within an hour
- Market scepticism about the possibility of a breakthrough on day two of talks in Washington with China’s Vice Premier Liu Hu was already high
- The key takeaway for investors is that a President endorsing tariffs over a trade deal is negative for the chances of one being sealed anytime soon. All that’s left is to buckle up for the final downswing of the week
- Uber’s IPO looms large over a quietening earnings season on both sides of the Atlantic. After the stock priced at the lower end of the planned range, the focus is on whether FOMO alone can deliver a big uplift from its starting price of $45 a share
- Germany’s ThyssenKrupp followed the spin-off trend of fellow DAX industrials with plans to list its elevator unit as it reported so-so earnings. The news was just in time to offset dented sentiment after regulators blocked its planned merger with India’s Tata. The shares have surged 17% higher
Upcoming corporate highlights
Upcoming economic highlights
From time to time, GAIN Capital Australia Pty Ltd (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.
As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.