The market participants were able to take a sigh of relief after some optimism seen in the markets. Dow Jones Industrial Average ended the session on November 15, 2018 at 25,289.27 which implies that the index managed to witness the rise of 208.77 or 0.83%. Needless to say, the investors are concerned about the trade battle between the US and China and any optimism in this respect positively impacts the global markets. There are expectations that the US and China might try to resolve the trade battle which could help the global markets. From the earnings front, Walmart missed the revenues expectations. However, the impact of the weaker results of Walmart was balanced by the data related to the retail sales. In the month of October 2018, the retail sales witnessed the rise of 0.8% which outpaces the expectations which were made. The market participants should know that the Federal Reserve is in no way backing out from the decision of raising the interest rates. The US economy needs to prepare itself for another rate hike by the apex bank of the US. The chairman of the Fed also identified the risks which could impact the economic outlook.
Oil Prices Gaining Momentum: What You Should Know
The oil prices have been witnessing a rise because of the expectation that OPEC or Organization of the Petroleum Exporting Countries might decide to go for supply cuts. This step has been taken in order to avoid the situation of oversupply which could weigh down the oil prices as it had happened in 2014. In 2014, the increased supply severely impacted oil prices. Moreover, in the present scenario, other factors which are impacting the oil are the expectations of the slowdown in the global economy as well as expected decline in the oil demand. Any news related to the demand and supply of the oil significantly affects the oil prices and also the sentiments of the market players. However, some of the market analysers are of the view that cuts from the Middle East dominated producer cartel might not serve the purpose for which it is being done. Because of the increased production by many countries leading to the situation of oversupply, according to the market analysers, the production cuts by the OPEC is just temporary as they would be shifting the production from one period to the other.
Australian Markets Ended Slightly Lower
On November 16, 2018, the Australian markets concluded the session on a slightly weaker note. S&P/ASX200 ended the session at 5730.6 which implies the fall of 5.4 points or 0.1%. Talking about the gainers, Costa Group Holdings Limited (ASX: CGC) and Afterpay Touch Group Limited (ASX: APT) ended the session by advancing 11.851% and 10.265%, respectively. On the other hand, CYBG PLC (ASX: CYB) and Emeco Holdings Limited (ASX: EHL) ended the session on November 16, 2018 by falling 8.163% and 4.839%, respectively.
The key persons of the National Australia Bank (ASX: NAB) had taken the pay cuts in order to win back the customers’ trust. Read the full news here. Macquarie Group Limited (ASX: MQG) has made an announcement that the ACCC or Australian Competition and Consumer Commission has approved the Quadrant Energy acquisition by Santos. Read the full news here.
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