Market News & Analysis
US Equity Handover: Stocks Fade Along with Hopes of US-China Trade Deal
Matt Weller, CFA, CMT May 9, 2019 9:13 PM
- 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.
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