Wednesday, December 05, 2018

Today's Headlines

  • Trade Pledge Slows Stock Rout; Pound Erases Gain. European and Asian stocks dropped on Wednesday following the rout on Wall Street, though declines were contained and U.S. equity futures rose after China pledged to start delivering on trade agreements reached with America. The pound erased a gain as the U.K. government published legal advice relating to its proposed Brexit deal. Global markets were left reeling following Tuesday’s steep sell-off in New York, but nerves appeared to steady after China’s Commerce Ministry said Beijing will start to quickly implement specific items where there’s consensus with the U.S. and will push forward on trade negotiations within the 90-day “timetable and road map.” While the Stoxx Europe 600 Index slumped as much as 1.2 percent, that was far less than the 3.2 percent plunge recorded by the S&P 500 a day earlier. Futures for America’s benchmark gauge advanced, though the U.S. market is closed on Wednesday to mark the death of President George H. W. Bush. Futures on the S&P 500 Index gained 0.6 percent as of 2:29 p.m. London time. The Stoxx Europe 600 Index sank 0.9 percent to the lowest in more than a week on the biggest dip in more than two weeks. The U.K.’s FTSE 100 Index sank 1.1 percent to the lowest in almost six weeks on the largest tumble in almost two weeks. Germany’s DAX Index decreased 0.9 percent to the lowest in more than a week. The MSCI Asia Pacific Index sank 1 percent, the largest tumble in more than two weeks. The MSCI Emerging Market Index sank 1.3 percent, the biggest tumble in more than two weeks.
Zero Hedge:   

No comments: