Market Update: Dow Jones Closed The Session In Green. Should Market Players Be Relaxed?

  • Mar 22, 2019 AEDT
  • Team Kalkine
Market Update: Dow Jones Closed The Session In Green. Should Market Players Be Relaxed?

As the market players are aware, in the recently concluded US Federal Reserve meeting, Mr. Jerome Powell has left the rates unchanged. This move of the central bank was very much expected by the broader market participants. The market players took the hint that the US central bank would not be raising rates in 2019. Earlier also, the market trackers were expecting that the Federal Reserve would be patient with respect to the interest rate increases and this is because the worries about the global economic slowdown have been haunting the global investors. It can be said that the primary reason for the expectations of the global slowdown was the trade tensions between the US and China. The permanent settlement is very much required so that the worries about the slowdown reduces.

The slowdown in the global economic growth tends to negatively impact the broader movement of equity markets and the investors liquidate their holdings in the equities. As a result, the equity markets encounter a downfall. Yesterday (i.e. March 21, 2019), Dow Jones Industrial Average closed the session in green as the index got closed at 25,962.51 which implies the rise of 216.84 points or 0.84%. Also, S&P 500 Index wrapped up in green as it ended at 2854.88 which implies the rise of 30.65 points or 1.09%.

Oil Prices Get Influenced by Global Growth Worries

The oil prices get negatively impacted by the worries about global economic slowdown primarily because it increases concerns about oil demand. The tensions about oil demand generally weigh over the oil prices. Also, the fall in global equity markets negatively impacts oil prices. These prices are also sensitive to the trade battle between the US and China and a permanent end to this battle might help the oil prices and broader equity markets.

Australian Markets Ended in Green: S&P/ASX200 Witnesses a Rise of 0.5%

The Australian markets closed the session in green as S&P/ASX200 ended at 6195.2 which implies the rise of 28 points or 0.5% on an intraday basis. The Australian equity markets are sensitive to the performance of the global markets. The fall in worries about global slowdown might help the Australian markets. On March 22, 2019, the stocks like Pact Group Holdings Ltd (ASX: PGH) and Syrah Resources Limited (ASX: SYR) had closed the session in green as their prices witnessed the rise of 6.25% and 6.091%, respectively.

On the other hand, the stocks like St Barbara Limited (ASX: SBM) and Saracen Mineral Holdings Limited (ASX: SAR) had closed the session in red as their prices fell by 29.247% and 4.167%, respectively. Talking about some of the important news with respect to Australian companies, Orocobre Limited (ASX: ORE) had released the sustainability report for 2018. Read the full news here. Sigma Healthcare Limited (ASX: SIG) had come forward and made an announcement about full-year results. Read the full news here.


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