The Breakfast Briefing: Global Stocks Climb Ahead OLf U.S.-China Trade Meeting

Ted

FYI: Thursday’s steep losses after China confirmed a two-day meeting with U.S. representatives to work to resolve the countries’ trade dispute.

The Stoxx Europe 600 climbed 0.9% in opening trading, buoyed by its natural resources and energy sectors, up 2% and 1.7%, respectively. Natural resources stocks have been among those worst hit by ongoing trade disputes between the U.S. and China.

Meanwhile, oil prices continued the rise that began earlier this week when production cuts from the Organization of the Petroleum Exporting Countries and its allies came into effect. Brent crude oil was last up 1.4% at $56.71 a barrel and West Texas Intermediate futures were last up 1.6% at $47.82 a barrel.

Markets were also upbeat in Asia, where the Shanghai Composite Index, the Shenzhen A-Share, and the Hang Seng all rose by more than 2%. Japan’s Nikkei returned to trading after a public holiday to drop 2.3% in a delayed reaction to losses across global markets earlier in the week.

In the U.S., futures put the tech-dominated Nasdaq Composite Index on course to rise 1.2% at the open, with the S&P 500 and the Dow Jones Industrial Average set to climb 0.9%.
Regards,
Ted

WSJ:
https://www.wsj.com/articles/global-stocks-climb-ahead-of-u-s-china-trade-meeting-11546593441

Bloomberg:
https://www.bloomberg.com/news/articles/2019-01-04/u-s-stock-futures-rise-after-house-passes-spending-bill-package?srnd=premium

MarketWatch:

IBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-stock-market-rally-stock-market-correction/

Reuters:
https://www.reuters.com/article/global-markets/global-markets-china-u-s-trade-talks-a-tonic-to-battered-markets-idUSL8N1Z40Z2

CNBC:
https://www.cnbc.com/2019/01/04/stock-market-investors-react-to-us-china-trade-talks.html

Europe:
https://www.reuters.com/article/us-europe-stocks/u-s-china-trade-talks-boost-european-shares-as-commodity-stocks-banks-rally-idUSKCN1OY0LY

Asia:
https://www.marketwatch.com/story/nikkei-tumbles-while-markets-in-china-hong-kong-rebound-2019-01-03/print

Bonds:
https://www.cnbc.com/2019/01/04/bonds-jerome-powell-to-speak-and-new-nonfarm-payrolls-due.html

Currencies:
https://www.cnbc.com/2019/01/04/forex-markets-japanese-yen-global-economy-in-focus.html

Oil:
https://www.cnbc.com/2019/01/04/oil-markets-opec-manufacturing-downturn-in-focus.html

Gold:
https://www.cnbc.com/2019/01/04/gold-markets-global-economy-stock-markets-in-focus.html

Current Futures:
https://finviz.com/futures.ashx