The global stock markets are sensitive to the macro-economic parameters and to the news associated with the trade fight between the US and China. In the present scenario, it can be said that the positive news have floated in the market with respect to the trade talks. This sort of news was very important as the trade tensions can significantly affect the performance of the stock markets. Apart from the geopolitical tensions, the US stock markets are also affected by the comments from the Chairman of US Federal Reserve. As the market participants are aware, in the last Federal Reserve meeting, the central bank had kept the interest rates unchanged.
Talking about the performance of sectors on July 1, 2019, the positive momentum was witnessed primarily in the basic materials, financial and technology. It can be said that the performance of the technology sector is very sensitive to the situation of the trade battle. On July 1, 2019, Dow Jones Industrial Average was closed at 26,717.43 which implies a rise of 117.47 points or 0.44% on an intraday basis. On the same day, S&P 500 Index was closed at 2,964.33 which implies a rise of 22.57 points or 0.77% on an intraday basis.
Oil Prices Get Influenced by OPEC Decisions
The oil prices are affected by the overall health of the global economy and any sort of economic uncertainties can affect the demand of oil. In the present scenario, it can be assumed that the prices of oil are getting influenced by the decision of OPEC. The worries of the trade tensions affect the prices largely because the geopolitical uncertainties can question the demand of oil. If the oil demand is affected, the prices of oil might also be influenced.
Australian Markets Ended in Green: S&P/ASX200 Rises by 0.1%
As per the monetary policy decision media release, the outlook with respect to the global economy happens to be reasonable. In the release, it was also mentioned that the conditions related to most housing markets are soft, however, some signs are visible which reflects that the prices are stabilising in the Sydney and Melbourne. On July 2, 2019, S&P/ASX200 was closed at 6653.2 which implies a rise of 5.1 points or 0.1% on an intraday basis.
We will now have a look at the movement of stocks. Afterpay Touch Group Limited (ASX: APT) and Mayne Pharma Group Limited (ASX: MYX) were ended in green as their stock prices have witnessed a rise of 6.926% and 4.854%, respectively. On the other hand, Speedcast International Limited (ASX: SDA) and HUB24 Limited (ASX: HUB) got closed in red as their prices have fallen by 40.805% and 5.579%, respectively on an intraday basis.
We have given some important information related to some of the companies listed on ASX. We have provided updates on three metals and mining stocks (i.e. Axiom Mining Limited, Inca Minerals Limited and Northern Cobalt Limited). To read the about the information provided by us, please click here.
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