In the past week, it can be said that the global investors were busy tracking the earnings reports as well as the meeting of the US Federal Reserve. The US central bank had kept the rates unchanged which was broadly expected by the global market players. However, the market trackers took the hints from the comments of the US Federal Reserve Chairman named Mr. Jerome Powell that the Fed would be patient about raising the interest rates. The dovish of the US Federal Reserve was very much needed by the global market participants largely because of the worries about the economic slowdown. The worries were further increased after the tensions about the slowing Chinese economy were emerged.
However, the trade worries between the US and China was also the primary reason of increasing worries about the global economic growth. The trade battle between the US and China needs to end as soon as possible. If this happens, the global economic environment as well as the sentiments of the investors would be supported to a large extent. On February 1, 2019, Dow Jones Industrial Average closed the session higher and stood at 25,063.89 which implies the rise of 64.22 points or 0.26%.
What Factors to Track While Understanding Oil Prices?
The oil prices are sensitive to the macro-economic indicators as well as the movement in the financial markets. A positive movement in the financial markets is beneficial for oil prices as this could reduce the concerns related to the oil demand. The oil prices are expected to be positively impacted if the trade battle between the US and China witnesses a permanent end. The end of this battle could broadly support the financial markets as well as the broader business environment. Moreover, if the worries about a global economic downturn reduce, it would also help the oil prices.
Australian Markets Wrapped Up Higher
The Australian markets closed the session in green on February 4, 2019. Today, S&P/ASX200 index closed at 5891.2 which implies the rise of 28.4 points or 0.5%. The Australian economy is very sensitive to the trade relations between the US and China and the settlement of the war might also help the Australian equity markets. On February 4, 2019, the stocks like Western Areas Limited (ASX: WSA) and Steadfast Group Limited (ASX: SDF) closed the session higher as the stock prices rose by 5.702% and 4.819%, respectively.
On the other hand, Boral Limited (ASX: BLD) and IOOF Holdings Limited (ASX: IFL) closed the session in red as the prices of these stocks declined by 7.895% and 4.501%, respectively. K2 Asset Management Holdings Limited (ASX: KAM) had come forward and made an announcement about the FUM for January 2019. Read the full news here. Also, Pearl Global Limited (ASX: PG1) had come forward and published the operation update for the quarter ended December 2018. Read the full news here.
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