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It could be said that, in the present circumstances, market participants are getting worried about the slowdown that might hit the global economy. This is mainly because of rising economic uncertainties and geopolitical tensions. The trade battle between the US and China has the potential to negatively impact the prospects of economic growth and, if the war does not end on a permanent basis, it might lead to some serious repercussions. The trade war could weigh over the top line and bottom line numbers of companies that are operating on a large and global scale. Needless to say, the battle can also negatively impact the core operational capabilities of global companies.
It needs to be noted that the markets are sensitive to comments of the US Federal Reserve and the Federal Reserve meeting would be taking place on September 17, 2019-September 18, 2019. Let us now have a quick look at how Dow Jones have performed on August 28, 2019. Dow Jones Industrial Average ended the session at 26036.10 reflecting a rise of 258.2 points or 1.00% on an intraday basis. Notably, on the same day, S&P 500 Index witnessed a rise of 18.78 points or 0.65% on an intraday basis.
Oil Prices Can Be Affected By Macro-economic Factors
Oil prices are expected to be affected by oil demand and a rise in economic uncertainties can influence the demand for oil. Movement of stock markets as well as overall health of global economy are some of the factors that could influence the demand for oil. In order to bring stability, the trade battle needs to be settled on the permanent basis. Also, the settlement can positively impact the sentiments of the market players.
Australian Markets Wrapped Up in Green: Rise of 0.1% Witnessed in S&P/ASX200
Australian markets might witness the unfavourable impacts if trade war does not come to an end. Any sort of escalation in the battle has the potential to disrupt the broader momentum of global stock markets. However, if the settlement occurs on the permanent basis, the Australian economy might witness positive impacts which could, in turn, favourably impact the equity markets in Australia. Coming to the performance on August 29, 2019, S&P/ASX200 encountered a rise of 6.8 points or 0.1% on an intraday basis to end the session at 6507.4 on an intraday basis.
We will now be having a look at the performance of stocks on Australian Securities Exchange. Link Administration Holdings Limited (ASX: LNK) witnessed a rise of 9.369% on an intraday basis to end at A$5.370 per share, while Ausdrill Limited (ASX: ASL) rose by 7.736% to close the session at A$1.880 per share. On the other hand, Appen Limited (ASX: APX) and NEXTDC Limited (ASX: NXT) witnessed a fall of 11.326% and 6.707%, respectively, on August 29, 2019. We have provided some crucial information on APX. To have a quick look, please Click here
LNK Daily Technical Chart (Source: Thomson Reuters)
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