Market Update: Dow Jones Witnesses Significant Rise. What Market Players Need To Do?

Market Update: Dow Jones Witnesses Significant Rise. What Market Players Need To Do?

As the market players are aware, global stock markets are sensitive to macro-economic factors as well as to news which is associated with the trade battle between the US and China. Needless to say, escalation in the trade war could significantly impact the sentiments of global investors. Also, the escalation can disrupt the broader momentum of stock markets. The trade battle could weigh over the primary activities of global companies and can also impact their core financial numbers.

Recently, there was some positive news related to the trade battle between the US and China that seem to have positively impacted the sentiments of market participants. It looks like the recent comments from China with respect to the trade talks have provided some hopes to the global market participants. The permanent settlement of the battle can positively impact the broader stock markets. On August 29, 2019, Dow Jones Industrial Average ended the session in green, as the index witnessed a rise of 326.15 points or 1.25% on an intraday basis to end the session at 26,362.25. Also, on the same day, S&P 500 Index witnessed a rise of 36.64 points or 1.27% on an intraday basis to end at 2924.58.

Geopolitical Tensions Might Affect Demand for Oil

The oil demand could influence oil prices, and geopolitical factors, macro-economic environment as well as movement of stock markets have the potential to affect the demand for oil. Any negative news from the trade battle front could influence the broader economic environment, which could, in turn, affect the demand for oil.

Australian Markets Ended in Green: S&P/ASX200 Rises by 1.5%

Performance of the global markets has the potential to influence the Australian markets. If the trade battle settles down on a permanent basis, the economy of Australia could witness positive impacts and Australian investors might go for deployments towards equities. Therefore, it can be said that the settlement of the battle is of utmost importance. Talking about the performance on August 30, 2019, S&P/ASX200 witnessed a rise of 96.8 points or 1.5% on an intraday basis to end at 6604.2. On the same day, All Ordinaries rose by 1.4% or 92.5 points to end the day’s session at 6698.2.

We will now have a look at the performance of individual stocks on ASX. On August 30, 2019, Austal Limited (ASX: ASB) witnessed a rise of 14.363% on an intraday basis to end the session at A$4.220 per share, while Appen Limited (ASX: APX) encountered a rise of 6.757% to settle at the price of A$25.910 per share. On the other hand, Harvey Norman Holdings Limited (ASX: HVN) and Corporate Travel Management Limited (ASX: CTD) witnessed a fall of 6.21% and 3.874%, respectively, on an intraday basis. We have provided important information on stocks for the benefit of investors and we advise them to have a look. Recently, we have written about four metals and mining stocks (i.e. IGO, OZL, PGM and MLS). In order to have a glance, please click here.

ASB Daily Technical Chart (Source: Thomson Reuters)


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