FYI: Global stocks fell Friday, erasing most of this week’s gains as disappointing readings on the Chinese economy added to recent market concerns over world growth.
The Stoxx Europe 600 was down 1.1% shortly after European markets opened, following a 2% drop in Japan’s Nikkei and a 1.7% fall in Hong Kong’s Hang Seng Index. Futures pointed to a 0.8% opening decline for the S&P 500.
Data Friday showed China’s economic downturn deepened last month more than economists expected, raising the challenge for Beijing to halt a slowdown next year while grappling with a trade conflict.
Official figures showed a November slowdown in industrial production amid issues among auto makers and property markets, while growth in retail sales dropped to its lowest level in more than 15 years.
“The data certainly puts a further dent in recent optimism over the outlook for China,” analysts at MUFG wrote in a note.
In Europe, sectors closely linked to the Chinese and world economy, including auto and parts companies and mining companies, led declines. Copper futures were down 1.1%, given China is the world’s largest consumer of the industrial metal.
Regards,
Ted
WSJ:
https://www.wsj.com/articles/stocks-drop-as-chinese-economy-falters-11544776971Bloomberg:
https://www.bloomberg.com/news/articles/2018-12-13/asia-stocks-to-dip-as-rally-stalls-dollar-climbs-markets-wrap?srnd=premiumMarketWatch:
https://www.marketwatch.com/story/us-stock-futures-under-pressure-after-weak-china-data-2018-12-14/printIBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-adobe-stock-starbucks-stock-costco-stock/Reuters:
https://www.reuters.com/article/us-global-markets/world-stocks-tumble-on-weak-economic-data-from-china-and-europe-idUSKBN1OD021CNBC:
https://www.cnbc.com/2018/12/14/us-stock-futures-dow-jones-sp-500-nasdaq-to-open-lower-on-friday.htmlEurope:
https://www.reuters.com/article/us-europe-stocks/european-shares-sink-as-china-data-derails-hopes-of-santa-rally-idUSKBN1OD0WLAsia:
https://www.marketwatch.com/story/asia-stocks-take-a-hit-from-economic-data-early-friday-following-2-days-of-gains-2018-12-13/printBonds:
https://www.cnbc.com/2018/12/13/bond-market-treasury-yields-fall-us-china-trade-talks-data-in-focus.htmlCurrencies:
https://www.cnbc.com/2018/12/14/forex-us-dollar-up-ahead-of-fed-rate-hike-euro-flat-on-ecb-outlook.htmlOil:
https://www.cnbc.com/2018/12/14/oil-prices-fall-as-investors-take-profits-amid-china-economy-worries.htmlGold:
https://www.cnbc.com/2018/12/14/precious-metals-gold-steady-as-investor-focus-turns-to-fed-meet.htmlCurrent Futures:
https://finviz.com/futures.ashx
