It looks like, in the present scenario, the trade battle between the US and China is the primary factor that has been influencing the sentiments of global investors and broader stock markets. Any positive news from the trade war front has the potential to positively impact the broader stock markets. Market players have become aware about the news that has been recently floated in the market that the Chinese authorities have exempted certain goods from the tariffs. The permanent settlement of the war is very important in order to bring stability in the global equity markets.
The war could weigh over the operations of global companies and this could negatively impact their financial performance. Not only this, the battle can disrupt the broader business environment. The markets are also sensitive to the comments of US Federal Reserve Chairman and, therefore, the investors are advised to track the US Federal Reserve meeting. Coming to the performance on September 11, 2019, Dow Jones Industrial Average ended the session in green, as the index encountered an increase of 227.61 or 0.85% on an intraday basis to end the session at 27,137.04. On the same day, S&P 500 Index witnessed a rise of 21.54 points or 0.72% to settle at 3,000.93.
Oil Prices Are Expected to Remain Sensitive To Global Conditions
Oil prices are sensitive to oil demand and, if the trade war escalates, it could affect the demand for oil. Any sort of global uncertainties has the potential to influence the oil prices. However, if the trade war settles down on the permanent basis, it could reduce the worries about global slowdown to some extent.
Performance of Australian Markets on September 12, 2019
The performance of global markets as well as the overall health of the global economy are the primary factors that could influence the performance of Australian equity markets. A permanent end to the trade war could positively impact the Australian economy and the broader stock markets. Talking about the performance on September 12, 2019, S&P/ASX200 index ended the session in green, as it rose by 0.3% or 16.9 points on an intraday basis to close the session at 6654.9. On the same day, All Ordinaries encountered a rise of 0.2% or 13.5 points to settle at 6765.7.
We will now be having a look at the performance of stocks on ASX. On September 12, 2019, Southern Cross Media Group Limited (ASX: SXL) encountered a rise of 4.898% and Blackmores Limited (ASX: BKL) ended the day’s session by rising 4.045% on an intraday basis. On the other hand, Nanosonics Limited (ASX: NAN) and IOOF Holdings Limited (ASX: IFL) witnessed a fall of 5.208% and 4.377%, respectively, on an intraday basis.
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SXL Daily Technical Chart (Source: Thomson Reuters)
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