US Open – Tariff Concessions, Stable Jobless Claims, BOE nearer to easing, Oil rallies, Gold struggles

Nov 07 14:11 2019 Print This Article

What trade promise fatigue?  Financial markets remain determined to climb higher as global equities were boosted after China’s Commerce Ministry spokesman Gao Feng noted that both sides had agreed to simultaneously cancel some existing tariffs on one another’s goods.  Optimism is sky high for this phase-one trade deal as the yuan is back below the 7 level and as US stocks that are impacted by Chinese trade are back near the highs that we saw back in May.

A phase-one trade deal is almost fully priced in, though the timing could end up taking us deeper into December as the finer details will likely be hard to come by.  US stocks will resume their bullish breakout if the US economy continues to shine.  US weekly jobless claims once again came in better than expected with 211,000 first-time claims for state unemployment benefits, slightly better than the forecast of 215,000 and still showing no major impact from the GM strike.  Equities will continue to rise if we see a strong US consumer and so far a strong labor market is paving the way.

Read More

About Article Author

Market Pulse

Established in 2006, MarketPulse is a free news site that provides full-time coverage of the world's largest financial markets, focusing on forex, commodities, and global indices research and analysis. Armed with a global team of securities analysts and strategists, Market Pulse provides timely, accurate, and informative research on major macroeconomic trends, technical analysis, and worldwide events that impact different asset classes and investors.

Related Items

CalPERS' $80 Billion Leverage Plan?

John Plender and Peter Smith of the Financial Times report that CalPERS aims to juice returns via $80bn leverage plan:Calpers is to move deeper into private equity and private debt by adopting a bold leverage strategy that the $395bn Californian public sector pension fund believes will help it ach ...

Meridian Capital International Fund Purchases Units of Petrotal Corp.

HONG KONG, June 19, 2020 /CNW/ – Meridian Capital International Fund (“Meridian“) announced that on June 18, 2020 it acquired 75,000,000 units of PetroTal Corp. (“PetroTal“) (TSXV: TAL) (AIM: PTAL) by way of a private placement at a price of 10p (approximately C$0.17) per unit, for total ...

Fed Tapers Liquidity, Raising the Risk of Further Downside - David Brady (June 11, 2020)

June 11, 2020 FUNDAMENTALS The latest economic information is driven by the following: The surprising increase in non-farm payrolls, which drove stocks and bond yields higher. I believe this is at best temporary given the ongoing destruction of the mainstream economy. The euphoria that followed w ...

Middle East crude benchmarks provide lessons on valuing oil in volatile markets

The crude oil market has witnessed some of the highest volatility in living memory in recent months, casting a spotlight on the evolving role of global crude benchmarks. In the Middle East and key consuming regions such as Asia, it follows that the market is keen to understand what the tradable val ...

April 2, 2020

It was a good day for oil: Canada’s main stock index rose on Thursday, led by energy shares as crude prices posted their biggest-one day gains on record on Thursday. The Toronto Stock Exchange’s S&P/TSX Composite index finished unofficially up 221.39 points, or 1.72%, at 13,097.76. Nine of the ...

A stable and reliable investment for a portfolio

Walmart is the world’s largest retailer selling a broad spectrum of products ranging from grocery and entertainment to sporting goods and crafts. Walmart serves over 265 million customers each week. From humble beginnings, as a small discount retail store, Walmart ... Read more ...

COVID-19: The ultimate identity politics?

Political Action Human beings always aspire to be part of something larger. There's the family but it's limited, they want a level beyond that. So they find other entities to feel they belong to, like nations, religions, movements or generations. Very often -- most of the time -- those involve ...

Enerplus Announces Cash Dividend for July 2020

CALGARY, AB, June 19, 2020 /CNW/ – Enerplus Corporation (“Enerplus”) (TSX: ERF) & (NYSE: ERF) announces that a cash dividend in the amount of CDN$0.01 per share will be payable on July 15, 2020 to all shareholders of record at the close of business on June 30, 2020. The ex-dividend date for ...