Market News & Analysis

US Equity Handover: Stocks Recover but No Signs of a Thaw in US-China Trade Talks


  • US indices recovered to tack on roughly 1% today.
  • Materials (XLB) stocks were the strongest sector on the day, gaining about 1.5%. Consumer staples (XLP) were the weakest group and the only sector to fall on the day.
  • Chinese state media maintained its hardline approach toward trade negotiations with the US, stating “Make no mistake, China is not bluffing” and noting that “triumph will be in China’s hands.” That said, yesterday’s exemptions to some Huawei suppliers suggests that the US may be willing to come back to the negotiating table.
  • Retailer J.C. Penney (JCP) dumped over 7% after missing analysts’ earnings estimates.

*No top-tier earnings reports are scheduled for tomorrow’s Asian session*

Macroeconomic Calendar

*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.