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As investors are aware, the trade battle between the US and China has the potential to dent prospects of global economic growth. Also, it can be said that, in the present scenario, investors are closely tracking the news about the trade battle and they have every reason to do the same. An escalation in the war could derail the prospects of global growth and can also negatively impact the primary business activities of companies that have global operations. Needless to say, large and diversified companies that are carrying out operations on a global scale are more exposed to risks related to the trade war.
Talking about the performance on September 4, 2019, Dow Jones Industrial Average ended the session in green, as the index witnessed a rise of 237.45 points or 0.91% on an intraday basis to end the session at 26,355.47 and, on the same day, S&P 500 Index encountered an increase of 31.51 points or 1.08% on an intraday basis to close the session at 2937.78.
ASX Increases Primarily Because of Positive News About Trade Talks
Any sort of unfavourable impacts on global markets could also have a negative impact on the stock markets in Australia. It can be said that some positive information with respect to the trade talks between the US and China was floated in the markets, which have positively impacted the Australian stock markets.
Overview of Factors Affecting Oil Prices
Overall health of the global economy, macro-economic factors, movement of equity markets as well as events associated with the trade battle between the US and China are the primary factors that could influence the demand for oil. If the oil demand gets affected, oil prices might also get influenced. In the current scenario, prices of oil are getting influenced by the news that the US crude stockpiles have increased in the last week.
Australian Markets Ended in Green: S&P/ASX200 Increases by 0.9% Intraday
Equity markets in Australia are sensitive to the performance of global markets and, in the event of global economic slowdown, broader markets in Australia might witness negative impacts. Therefore, it can be said that a permanent settlement of the trade battle could positively impact the Australian equities. Talking about the performance on September 5, 2019, S&P/ASX200 ended the session in green, as the index witnessed an increase of 60.2 points or 0.9% to settle at 6613.2. On the same day, All Ordinaries encountered a rise of 64.7 points or 1.0% to end the dayâs session at 6720.8.
We would now be having a quick look at the performance of individual stocks on Australian Securities Exchange. On September 5, 2019, Emeco Holdings Limited (ASX: EHL) witnessed an increase of 9.14% to end the session at A$2.030 per share, while Nanosonics Limited (ASX: NAN) rose by 7.458% on an intraday basis to close the session at A$7.060 per share.
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EHL Daily Technical Chart (Source: Thomson Reuters)
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