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Global stock markets are sensitive to macro-economic parameters and events related to the trade battle between the US and China. Any kind of negative news from the trade battlefront could negatively impact the sentiments of market players, and broader stock markets can witness unfavourable impacts. However, a settlement of the war could bring some stability. In the present scenario, it can be said that the market players are tracking the Federal Reserve meeting, and they have every reason to do that, as generally, the meeting provides a broader overview of health of the US economy.
It looks like some of the market players are expecting a rate cut of 25 basis points (or bps). The comments of Federal Reserve Chairman and the decision regarding interest rates have the potential to influence the broader stock markets. Coming to the performance on September 17, 2019, Dow Jones Industrial Average ended the session in green, as the index witnessed a rise of 33.98 points or 0.13% to end the session at 27,110.80. On the same day, S&P 500 Index closed the dayâs session by rising 7.74 points or 0.26% to end at 3,005.70.
Oil Prices Might Get Affected by Global Uncertainties
Oil demand might get influenced if the trade battle between the US and China does not end on a permanent basis, as it could affect the global business environment. If oil demand gets affected, its price can also get influenced. It is important for investors to note that the movement of broader equity markets can affect oil prices.
Australian Markets Ended in Red: S&P/ASX200 Falls By 0.2%
Performance of Australian markets is sensitive to the health of global economy as well as to news about the trade war between the US and China. The settlement can positively impact the broader performance of the Australian economy and, as a result, Australian investors might decide to deploy their capital towards equities. Coming to the performance on September 18, 2019, S&P/ASX200 witnessed a fall of 13.7 points or 0.2% on an intraday basis to end at 6681.6. On the same day, All Ordinaries encountered a decline of 0.2% or 10.5 points to end the session at 6791.2.
We will now be looking at how the individual stocks have performed. On September 18, 2019, Pro Medicus Limited (ASX: PME) witnessed an increase of 5.516% to end the session at A$29.840 per share, while Resolute Mining Limited (ASX: RSG) increased by 4.575% to close at A$1.600 per share. On the other hand, WorleyParsons Limited (ASX: WOR) and The A2 Milk Company Limited (ASX: A2M) ended the session in red by falling 4.164% and 3.817%, respectively.
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PME Daily Technical Chart (Source: Thomson Reuters)
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