As the marker players are aware, the global markets are influenced by the Federal Reserve’s decision and the news associated with trade battle between the US and China. It can be said that the market players were tracking the meeting of Federal Reserve and were more focused on the central bank’s outlook for future interest rate increases and what it thinks about the broader economy. The US central bank had kept the interest rates on hold which was broadly in line with the expectations of market players. Moreover, the market trackers are expecting that the US Federal Reserve would not be raising the interest rates in 2019. Also, the investors are closely tracking the news about the trade battle as the settlement of this war might support broader momentum of the equities.
Yesterday (i.e. March 20, 2019), Dow Jones Industrial Average had ended the session in red as the index got wrapped up at 25,745.67 which implies the fall of 141.71 points or 0.55% on an intraday basis. Also, S&P 500 Index ended in red as it got closed at 2824.23 which reflects the fall of 8.34 points or 0.29% on an intraday basis.
Oil Markets Gets Influenced Macro Factors
The oil prices are influenced by multiple factors which include expectations for the global economy and the movement of equity markets. Generally, a downturn in equity markets negatively impacts the oil prices largely because this downturn increases worries about the oil demand in the minds of market players. If there are anticipations that the oil demand might encounter a fall, it might pull down the oil prices. Also, if global growth is in danger, it might also negatively impact oil prices.
Australian Markets Ends in Green: S&P/ASX200 ends Marginally Up
Today (i.e. March 21, 2019), the Australian market wrapped up the session in green as S&P/ASX200 got closed at 6167.2 which implies the marginal rise of 1.9 points. It can be said that the broader performance of Australian equity markets is very much sensitive to the performance of global markets. Also, the worries about the global economic slowdown might negatively impact the Australian equity markets. On March 21, 2019, Nufarm Limited (ASX: NUF) and Speedcast International Limited (ASX: SDA) have ended the session in green as the prices of these stocks have witnessed the rise of 6.147% and 5.307%, respectively.
On the other hand, the stocks like Eclipx Group Limited (ASX: ECX) and Pact Group Holdings Ltd (ASX: PGH) closed the session in red as the prices of these stocks fell by 12.048% and 7.581%, respectively. Now, let us see some of the important news. Altura Mining Limited (ASX: AJM) had wrapped up the securities purchase plan. Read the full news about this here. Also it is important for the investors to note that WorleyParsons Limited (ASX: WOR) had got all regulatory clearance as well as approvals for Jacobs ECR Division acquisition. Read the entire news here.
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