Market Update: Dow Jones Ended In Red. Trade Worries Still Prevailing In Investors’ Minds

As the market players are aware, global markets are being affected by the trade battle between the US and China and by global uncertainties. It can be said that a rise in economic uncertainties as well as worries about global slowdown are still in the minds of the global market participants. If the trade battle does not end, investors might liquidate their holdings in equities and could deploy their money towards safer instruments. The geopolitical tensions have the potential to disrupt the broader momentum of the market and can be a hurdle to overall growth.

The companies with global operations are exposed to the trade war between the US and China and the battle could also weigh over their core business operations, which could impact their top and bottom-line numbers. On August 9, 2019, Dow Jones Industrial Average ended the session at 26,287.44, which reflects a fall of 90.75 points or 0.34% on an intraday basis. Also, on the same day, S&P 500 Index closed the session at 2918.65, reflecting a decline of 19.44 points or 0.66% on an intraday basis.

Oil Prices Might Be Affected by Trade Tensions

Oil prices are sensitive to macro-economic conditions as well as to the movement of stock markets. The trade worries could affect health of the global economy which could influence the demand for oil. If the oil demand gets affected, prices might also be influenced. Needless to say, the trade battle could be a serious threat to the global growth and can weigh over the broader performance of the global economy.

Australian Markets Wrap Up The Session in Green: S&P/ASX200 Witnesses A Rise Of 0.1%

The performance of Australian economy is largely dependent on the performance of the global economy. If the worries about the global slowdown increases or if the trade battle does not end, it could severely impact the Australian economy, which could, in turn, affect the performance of the Australian equities. On August 12, 2019, S&P/ASX200 encountered a rise of 5.9 points or 0.1% on an intraday basis to close the session at 6590.3. On the same day, All Ordinaries rose by 6.7 points or 0.1% on an intraday basis to settle at 6670.1.

We will now look at the performance of the stocks. JB Hi-Fi Limited (ASX: JBH) encountered an increase of 9.979% to end the session at A$30.750 per share and News Corporation (ASX: NWS) witnessed a rise of 7.538% to close at A$21.400 per share. On the other hand, Orocobre Limited (ASX: ORE) has witnessed a fall of 6.645% on an intraday basis to settle at A$2.810 per share and Sandfire Resources NL (ASX: SFR) closed at A$5.950 per share which reflects a fall of 4.341%. For the investors, we have provided some information on the stocks and we advise them to have a quick glance at that information.

An update related to financial results have been provided for two stocks (i.e. IMF and CLW). To read, please click here.

JBH Daily Technical Chart (Source: Thomson Reuters)


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