The Breakfast Briefing: Global Stocks Slip As U.S.-China Trade Talks Continue

Ted

FYI: Global stocks slipped Thursday as President Trump prepared to meet top Chinese officials in Washington to resolve the continuing trade dispute, one of investors’ major concerns amid doubts around growth in the world’s leading economies.

In Europe, the Stoxx Europe 600 was down 0.3% in morning trading. U.S. futures pointed to a mixed start, with Dow Jones Industrial Average futures up 0.1% and S&P 500 futures down 0.1%.

In Asia, the Shanghai Stock Exchange was up 0.9%, Hong Kong’s Hang Seng Index dipped 0.5% and Japan’s Nikkei was up 0.1%.

The WSJ Dollar Index, which tracks the dollar against a basket of 16 currencies, was broadly flat.

The 10-year U.S. Treasury edged down to 2.506%, from 2.517% on Wednesday. Yields move inversely to prices.

In the U.K., Prime Minister Theresa May met with opposition leader, Jeremy Corbyn, in a high-risk attempt to find a compromise Brexit deal this week.

Sterling was up 0.2% on the dollar and 0.1% against the euro Thursday. The FTSE 100 index, which is dominated by large international businesses, dropped 0.5%, while the FTSE 250 was down 0.4%.

In commodities, global benchmark Brent crude oil was down 0.4% at $69.04 a barrel.
Regards,
Ted

WSJ:
https://www.wsj.com/articles/global-stocks-slip-as-u-s-china-trade-talks-continue-11554365871

Bloomberg:
https://www.bloomberg.com/news/articles/2019-04-03/asia-stocks-set-for-modest-gains-treasuries-drop-markets-wrap

IBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-tesla-deliveries-boeing-stock-boeing-737-max-software/

CNBC:
https://www.cnbc.com/2019/04/04/stock-market-wall-street-in-focus-amid-ongoing-us-china-trade-talks.html

U.K.:
https://uk.reuters.com/article/uk-britain-stocks/uks-main-stock-index-snaps-winning-streak-midcaps-weighed-down-by-saga-idUKKCN1RG0QY

Europe:
https://www.reuters.com/article/us-europe-stocks/european-shares-retreat-after-strong-surge-trade-talks-banks-ma-on-tap-idUSKCN1RG0QJ

Asia:
https://www.marketwatch.com/story/asian-markets-mixed-as-us-china-trade-talks-resume-2019-04-03/print

Bonds:
https://www.cnbc.com/2019/04/04/us-bonds-treasury-yields-in-focus-amid-auctions-fed-speeches.html

Currencies:
https://www.cnbc.com/2019/04/04/forex-market-brexit-vote-us-china-trade-talks-in-focus.html

Oil:
https://www.cnbc.com/2019/04/04/oil-market-us-crude-inventories-tightening-global-supply-in-focus.html

Gold:
https://www.cnbc.com/2019/04/04/gold-market-dollar-moves-us-china-trade-talks-in-focus.html

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