Stock market snapshot as of [10/5/2019 0611 GMT]
- U.S administration has announced official additional tariffs of 25% on US$ 200 billion of Chinese imports despite the on-going negotiation talk between trade officials from both sides in Washington has yet to conclude.
- The S&P 500 E-min futures has traded slightly lower at -0.13% so far in today’s Asian mid-session. In contrast, China stock market has rallied significantly where the China A50 is up by 3.17% on the back of rumoured market talk that China state bodies have intervened in the local stock market and also further stimulus measures talks have resurfaced to cushion the China economy on the latest round of U.S. trade tariffs.
- Despite the on-going significantly rally seen in China A50, it is still showing a loss of -4.7% for the week and the key short-term resistance to watch will be at 13490. Also, click here & here for our latest weekly medium-term technical outlook on the major stock indices.
- European stock indices futures are also showing positive gains where the FTSE 100 and German DAX are up 0.72% and 1.14% respectively.
BMO: before market open
*Data from Refinitiv. Index names may not reflect tradable instruments and not all markets are available in all regions.
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.