Market Update: Can The US And China Shake Hands? Well, Market Hopes So

  • Nov 28, 2018 AEDT
  • Team Kalkine
Market Update: Can The US And China Shake Hands? Well, Market Hopes So

It would not be wrong to say that the investor's sentiments regarding the investments would largely be dependent upon the outcome of the meeting which would be occurring soon. It seems like the market players expect that the outcome of the meeting would be positive and if this happens, the worries related to the trade battle would largely be removed. On November 27, 2018, Dow Jones Industrial Average or DJIA ended the session at 24,748.73 which implies the rise of 108.49 points or 0.44%. However, it seems like the market participants have ever to assume that the outcome of the meeting would be in their interests as the US has been communicating with China which provides expectations about the positive outcome. The trade battle needs to end as soon as possible as any escalation might impact the global economy which could lead to the downturn. Additionally, the technology sector, which significantly affects the broader markets, would also be positively impacted if the battle between the United States and China comes to an end.

Oil Prices Witnessed a Rise

The oil prices, which is also the primary concern for the market players, witnessed a rise which could give some relief to the participants in the oil markets. The production levels are expected to get reduced moving forward primarily because of the expectation that the demand might witness a fall on the back of the slowdown of the global economy. Thus, the investors need to wait for the meeting in which the production cuts might get discussed. This reduction of the supply levels is very much necessary as the global investors are still worried about the downturn in the oil prices. Moreover, the movement in financial markets is also a major concern for the market players as a decline in these markets might lead to the downturn in the global economies which could further impact the oil demand. However, it is expected that the production cuts might provide some stability to the prices of oil.

Australian Markets Ended Marginally Lower

The Australian markets closed the session marginally lower on November 28, 2018. S&P/ASX200 managed to settle at 5725.1 which reflects a marginal fall of 3.2 points or 0.1%. Talking about the gainers, oOh!media Limited (ASX: OML) and Mineral Resources Limited (ASX: MIN) ended the session on November 28, 2018 by witnessing a rise of 6.715% and 5.352%, respectively. Also, Brickworks Limited (ASX: BKW) ended the session by witnessing the rise of 4.958%. On the other hand, Saracen Mineral Holdings Limited (ASX: SAR) and Ausdrill Limited (ASX: ASL) ended the session by witnessing a fall of 7.031% and 5.3%, respectively.

PolyNovo Limited (ASX: PNV) provided the data focusing on the sales figure of NovoSorb BTM. Read the full news here. Additionally, Nuheara Limited (ASX: NUH) provided the information related to the IQBuds BOOST. Read the full news here. Also, Iluka Resources Limited (ASX: ILU) provided an update related to the strike. Read the full news here.

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