Market Update: Dow Jones Ended In Green As Index Witnessed A Rise Of 0.16%

Market Update: Dow Jones Ended In Green As Index Witnessed A Rise Of 0.16%

It can be said that, in the current scenario, global market participants are tracking developments related to the trade battle between the US and China. Escalation of the war has the potential to completely disrupt the broader momentum of equity markets. The trade war could be a big hurdle in the overall economic development and, if the threats to global growth increase, investors might decide to deploy their capital towards safer instruments. Sometimes investors even liquidate their holdings in equities because of the risks associated with the asset class.

However, settlement of the battle can positively impact the sentiments of investors and they might start making deployments towards equities. Also, it is critical for market players to know that the US Federal Reserve meeting is expected to take place on September 17, 2019- September 18, 2019 On August 30, 2019, Dow Jones Industrial Average closed the session in green, as it encountered an increase of 41.03 points or 0.16% and the session ended at 26,403.28. On the same day, S&P 500 Index encountered an increase of 1.88 points or 0.06% to settle at 2926.46.

Oil Prices Might Get Affected by Macro-Fundamentals

If global uncertainties witness a rise or if the trade battle becomes worse, economic growth can be impacted, which could, in turn, influence the demand for oil. If the oil demand gets affected, their prices might also get influenced. Therefore, it can be said that macro-economic fundamentals, as well as movement of stock markets, are the primary factors that have the potential to influence oil prices.

Australian Markets Ended in Red: S&P/ASX200 Falls By 0.4% Intraday

If the trade battle between the US and China escalates or if threats to global growth increase, the broader Australian economy might also witness negative impacts that could also weigh over the performance of Australian stock markets. However, settlement of the trade war can positively impact the momentum of stock markets in Australia. Coming to the performance on September 2, 2019, S&P/ASX200 ended the session in red, as the index witnessed a fall of 24.8 points or 0.4% on an intraday basis to end the session at 6579.4. On the same day, All Ordinaries encountered a fall of 0.3% or 20.7 points on an intraday basis to close the session at 6677.5. Let us now quickly have a look at how the stocks performed on September 2, 2019 on ASX.

Speedcast International Limited (ASX: SDA) witnessed a rise of 23.871% to close the session at A$0.960 per share and Western Areas Limited (ASX: WSA) encountered a rise of 14.113% on an intraday basis to settle at A$2.830 per share. For the investors, we have provided important information on the tech stocks (i.e. FCT, XF1, BUD, CAG and DUB).In order to have a quick glance at the same, please click here.

SDA Daily Technical Chart (Source: Thomson Reuters)


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