FYI: Global stocks paused Wednesday, as investors parsed mixed trade headlines against a backdrop of slowing global growth.
The Stoxx Europe 600 slipped 0.3% in the opening minutes of trading, with its technology, construction, and autos sectors—often seen as bellwethers of growth—leading losses.
Shares in U.K.-based Metro Bank plunged 23% after releasing fourth quarter earnings, while those of packaging firm RPC Group climbed 4.8% on the confirmation of its acquisition by Apollo Global Management .
Burberry Group stocks fell 1.5% after the luxury fashion house reported a slight fall in revenue.
A soft open in Europe followed flat trading in Asia. Major indexes in China, Hong Kong, and Japan moved by less than 0.1% from their opening levels. South Korea’s Kospi index rose 0.5%, while Taiwan’s benchmark fell by the same amount.
Japanese assets gave a muted reaction to the Bank of Japan’s decision to leave interest rates unchanged as it lowered inflation forecasts for the next two years. Japan’s December export figures, meanwhile, registered their largest year-over-year fall in more than two years, with exports to China sliding 7%.
The U.S. dollar was last 0.3% higher against the yen, while the yield on 2-year Japanese government bonds had last fallen to -0.167% from -0.150% late Tuesday according to Tradeweb.
In the U.S., futures put the S&P 500, Dow Jones Industrial Average and the Nasdaq Composite Index on course for flat opens, after all three indexes on Tuesday notched their largest one-day point and percentage declines since Jan. 3.
A 300-point decline for the Dow on Tuesday came amid a fresh wave of anxiety over global growth and trade.
Regards,
Ted
WSJ:
https://www.wsj.com/articles/global-stocks-waver-after-rally-peters-out-11548234901Bloomberg:
https://www.bloomberg.com/news/articles/2019-01-22/asian-stocks-set-for-declines-treasuries-climb-markets-wrap?srnd=premiumIBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-stock-market-rally-ibm-stock-ameritrade-stock-aphria-stock/Reuters:
https://www.reuters.com/article/us-usa-shutdown-data-explainer/explainer-u-s-government-shutdown-leaves-data-vacuum-in-its-wake-idUSKCN1PG2UICNBC:
https://www.cnbc.com/2019/01/23/stock-market-investors-turn-their-attention-to-trade-and-earnings.htmlEurope:
https://www.reuters.com/article/us-europe-stocks/european-shares-dip-as-ingenico-metrobank-add-to-macro-gloom-idUSKCN1PH0RJAsia:
https://www.marketwatch.com/story/asian-markets-flat-as-japan-reports-weak-export-data-2019-01-22/printBonds:
https://www.cnbc.com/2019/01/22/bond-market-investors-global-growth-concerns-in-focus.htmlCurrencies:
https://www.cnbc.com/2019/01/23/forex-markets-japanese-yen-global-economy-us-china-trade-in-focus.htmlOil:
https://www.cnbc.com/2019/01/23/oil-markets-global-economy-in-focus.htmlGold:
https://www.cnbc.com/2019/01/23/gold-markets-global-economy-us-china-trade-in-focus.htmlCurrent Futures:
https://finviz.com/futures.ashx
