FYI: Global stocks ticked higher Tuesday as U.S.-China trade talks continued in Beijing, even as further signs of weakness in the technology sector emerged.
The Stoxx Europe 600 was up 0.6% in the opening minutes of trading, with media companies among several sectors to post mild early-day increases.
Gains in Europe followed mixed trading in Asia. Indexes in China and Taiwan fell less than 0.3%, while the South Korean Kospi slipped 0.6%, dragged down by a 1.7% drop in index giant Samsung Electronics.
The world’s largest smartphone and semiconductor maker echoed Apple’s profit guidance from last week, saying Tuesday that it expects fourth-quarter operating profit to slide 29% and citing “mounting macro uncertainties” in another signal that concerns over trade and slower revenue growth have begun to bite tech giants around the world.
A trader works on the floor of the New York Stock Exchange in New York on Monday.
A trader works on the floor of the New York Stock Exchange in New York on Monday. Photo: Michael Nagle/Bloomberg News
Japan’s Nikkei benchmark climbed 0.8%, aided by a 5.7% climb for telecommunications firm SoftBank, which came after the company announced it was ditching its plan to invest $16 billion in shared-office space provider WeWork and instead planning a reduced deal of roughly $2 billion.
In the U.S., futures pointed to 0.4% gains for the S&P 500, the Dow Jones Industrial Average and the Nasdaq Composite Index, in a slight extension of Monday’s closing gains that came after the trade negotiations began.
Regards,
Ted
WSJ:
https://www.wsj.com/articles/stocks-rise-on-hopes-for-progress-on-trade-11546938524Bloomberg:
https://www.bloomberg.com/news/articles/2019-01-07/asian-stocks-to-gain-on-trade-dollar-extends-drop-markets-wrap?srnd=premiumMarketWatch:
https://www.marketwatch.com/story/us-stock-futures-higher-as-trade-optimism-set-to-keep-gains-going-on-wall-street-2019-01-08/printIBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-2019-stock-market-rally-apple-stock-amazon-stock/Reuters:
https://www.reuters.com/article/us-global-markets/stocks-stay-strong-as-europe-shrugs-off-samsung-warning-idUSKCN1P201QCNBC:
https://www.cnbc.com/2019/01/08/stock-market-us-china-trade-talks-resume-economic-data-in-focus.htmlEurope:
https://www.reuters.com/article/us-europe-stocks/european-shares-hit-three-week-high-on-trade-hopes-italy-bank-gains-idUSKCN1P20QZ?il=0Asia:
https://www.marketwatch.com/story/asian-markets-mixed-as-us-china-trade-talks-head-into-second-day-2019-01-07/printBonds:
https://www.cnbc.com/2019/01/08/us-bonds-us-china-trade-talks-continue-data-and-auctions-in-focus.htmlCurrencies:
https://www.cnbc.com/2019/01/08/forex-markets-the-fed-in-focus.htmlOil:
https://www.cnbc.com/2019/01/08/oil-markets-us-china-trade-opec-led-supply-cuts-in-focus.htmlGold:
https://www.cnbc.com/2019/01/08/gold-markets-us-dollar-the-fed-in-focus.htmlCurrent Futures:
https://finviz.com/futures.ashx
