Market Update: Dow Jones Closed in Red. Trade War Worries Might Continue To Hamper Sentiments

Market Update: Dow Jones Closed in Red. Trade War Worries Might Continue To Hamper Sentiments

As the market players are aware, tensions related to the global economic slowdown and geopolitical concerns influence stock markets. Trade battle between the US and China can significantly impact company operations, and there are possibilities that US-based companies’ earnings might witness adverse impacts. Therefore, apart from tracking the US corporate earnings, the market players should get themselves updated about any developments related to the trade battle between the two major economies.

The companies, at the time of reporting their earnings, might give a detailed outlook and their views on how the trade battle could influence their business activities moving forward. Tracking the earnings might help investors in getting a broad overview of a particular company. On July 17, 2019, Dow Jones Industrial Average registered a fall of 115.78 points or 0.42% on an intraday basis, closing the day at 27,219.85. Also, on the same day, the S&P 500 Index wrapped up the session at 2,984.42, declining 19.62 points or 0.65%.

Australia’s Unemployment Rate Stood at 5.2%, Reflecting No Change From May 2019

As per the recent release by the Australian Bureau of Statistics (ABS), the unemployment rate in Australia stood at 5.2% in June 2019, same as reported in May 2019. Market players need to keep an eye on the next steps of the Reserve Bank of Australia (or RBA). In the minutes of the recent monetary policy meeting, it was mentioned that employment growth was robust, at 2.9% over the year to May 2019. However, there was spare capacity in the labour market. It was mentioned that housing prices stabilised in June in Sydney and Melbourne.

Australian Markets Ended in Red: S&P/ASX200 Falls 0.4% Intra-day

Australian markets are very sensitive to the performance of the Australian economy and other macro-economic factors. Additionally, the geopolitical factors and movement in global stock markets can affect equities in the country. If the trade battle between the US and China gets worse, the Australian investors might avoid deployments in equities, which could negatively impact the broader markets. On July 18, 2019, S&P/ASX200 fell by 24.2 points or 0.4% on an intra-day basis to close at 6,649.1. Talking about the movement of stocks, Western Areas Limited (ASX: WSA) witnessed a rise of 5.333% to close at $2.370 per share, while Evolution Mining Limited (ASX: EVN) rose 5.192% to close at $4.660 per share.

Sponsored ad by Kalkine

On the other hand, CIMIC Group Limited (ASX: CIM) witnessed a significant fall of 18.982% and settled at $37.090 per share. Also, Eclipx Group Limited (ASX: ECX) fell by 5.994% to close at $1.490 per share. We have provided some important information related to the stocks which are listed on the Australian Securities Exchange. Investors are advised to have an overview of the information provided on two important industrial stocks (i.e. CIMIC Group Limited and Downer EDI Limited). In order to have a look at the information provided, please click here.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

Join Our Discussion

Start discussion with value Investors for ASX Stock Market Investment and Opinion.


6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s Those phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

Click here for your FREE Report