Market News & Analysis
US Equity Handover: Stocks Fade Along with Hopes of US-China Trade Deal
Matt Weller, CFA, CMT May 10, 2019 6:13 AM
- US indices closed lower on the day, though they did recover off their morning lows on (slim) hopes of a US-China trade deal.
- REITs (XLRE) were the only major sector to eke out a gain on the day, while technology stocks (XLK) fell the furthest at nearly -1%.
- US-China trade anxiety peaks, with President Trump noting that it was still possible to get a trade deal this week, but that he had an “excellent alternative” to a China deal. Negotiations resume at 17:00 ET (21:00 GMT) ahead of an escalation of tariffs at midnight ET.
- Uber is set for its IPO tomorrow – read our full preview here and see our webinar on the event here.
- Asian stock indices are edging generally lower, though tomorrow’s trade will depend heavily on the outcome of tonight’s US-China trade talks.
*No major earnings reports expected in Friday’s Asian session
*Data from Refinitiv. Index names may not reflect tradable instruments and not all markets are available in all regions.
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.