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As the market players are aware, trade battle between the US and China has the potential to weigh over the sentiments of investors and on global financial markets. If the trade battle gets worse, it could negatively impact the health of global economy and can also prompt investors to sell their holdings in equities. In the event of economic downturn, investors might decide to deploy their investable capital towards safer instruments. Therefore, it is of utmost importance that market participants track the bond markets as well.
A settlement to the trade war could positively impact the broader stock markets and investors can make deployments towards stocks. Also, the trade war settlement can stabilise the broader business environment. The core business activities of large global companies might get influenced by any news related to the trade dispute. Coming to the performance on September 16, 2019, Dow Jones Industrial Average ended the session in red, as there was a fall of 142.70 points or 0.52% on an intraday basis to end the day at 27,076.82. On the same day, S&P 500 Index encountered a fall of 9.43 points or 0.31% to end the dayâs session at 2,997.96.
Factors That Could Impact Oil Prices
The trade battle, movement of broader stock markets as well as health of the global economy are the primary factors that have the potential to influence the demand for oil. Any questions on the demand for oil could affect oil prices as well. Recently, oil prices were influenced by the attack on oil facilities in Saudi Arabia.
Overview of Performance of Australian Markets on September 17, 2019
The stock markets in Australia get affected by the broader movement of global markets and by macro-economic factors. Since the trade battle could weigh over the performance of global economy, negative impacts can also be felt on the Australian economy, thereby unfavourably impacting the Australian equities. Talking about the performance on September 17, 2019, S&P/ASX200 ended the session in green, as the index posted an increase of 21.8 points or 0.3% on an intraday basis to close the session at 6695.3. On the same day, All Ordinaries increased by 19.7 points or 0.3% to close the session at 6801.7. We will now look at the performance of individual stocks.
On September 17, 2019, CLINUVEL PHARMACEUTICALS LIMITED (ASX:CUV) ended the session by moving upward 4.874% to end the session at A$24.960 per share while, on the same day, Vocus Group Limited (ASX:VOC) ended the session with a rise of 4.665%, closing at A$3.590 per share. On the other hand, Inghams Group Limited (ASX:ING) and Ramsay Health Care Limited (ASX:RHC) ended the session by reporting a decline of 4.848% and 4.601%, respectively.
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CUV Daily Technical Chart (Source: Thomson Reuters)
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