8.10 - world is waiting for the trade talks
The closer the trade talks are, the more jittery and nervous we become. Especially given that the way China is handling national riots in Hong Kong are putting all of the perspective of the talks in jeopardy. We just want the deal to go through already, we do not need anything else at this point – just end the trade war. But in case world leaders are not going to listen to the people of the world, we need to start preparing ourselves to the possibility of increased turbulence and the situation even worse that the one we see and trade through now.
In the meantime, Chinese and Asian shares are sliding lower and lower. Traders are trying to be very cautious when it comes to instruments in the region there – again, it is still unclear whether the situation can improve at all and whether trader talks are going to happen and whether they are going to be a success. Are you getting tired of all of the “whethers” in your trading? Me too, me too.
In other segments of the market the situation is more or less the same. Slight turbulence can be felt in American tech and social shares where stable gains are a pretty rare thing to begin with, so it is no wonder that with trade talks so uncertain we see unstable performance for today.
Currencies are pretty consistent too. Dollar is climbing today with unemployment rate being at the lowest level in 50 years which means that there are all the chances to see American economy spike. But here we need to remember about the signs of stagnation displayed by it earlier this year.
Oil is climbing and precious metals are losing per-ounce price. Commodities are showing their dependency on currencies once again.
Here is the performance for today:
Topix grew 0.9 percent.
Kospi added 0.7 percent.
Shanghai Composite surged 0.4 percent.
Hang Seng from Hong Kong increased 0.6 percent.
S&P 500 futures recovered 0.3 percent.
Euro added 0.1 percent - $1.0981.
Yen dropped 0.5 percent – 107.4 per dollar.
Pound dropped 0.2 percent - $1.2298.
Canadian dollar grew 0.2 percent - $1.3293.
Apple was barely changed - $227.06.
Facebook dropped 0.4 percent – $179.68.
Amazon declined 0.4 percent - $1732.66 per share.
Tesla added 2.7 percent - $237.72.
Google shares lost 0.2 percent - $1208.25.
WTI grew 0.8 percent - $53.16 per barrel.
Brent grew 0.8 percent as well - $58.81 per barrel.
Gold lost 0.5 percent - $1496.4 per ounce.
Silver dropped another 0.6 percent - $17.43 per ounce.
Platinum added 0.5 percent – $882.53.