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It can be said that, in the previous week, the market players were more focused towards the earnings reports of the US companies as well as towards the news related to the trade war between the US and China. Any positive news related to the trade wars has the potential to positively impact the sentiments of the global investors and the positive news could support the global markets. This optimism is required in the current market scenario when there are increased worries about the global economic slowdown. The worries got further increased after there were concerns about the slowdown in the Chinese economy.
However, the efforts which are focused towards the settlement of the trade dispute are also being made which might significantly help the global markets. Not so long ago, the concerns related to the slowdown rose after Apple Inc. (NASDAQ:AAPL) stated that the revenues for the December 2018 quarter would lower than the expectations which were earlier provided by the company. This news from a giant company like Apple was indeed a matter of concern. However, on January 18, 2019, Dow Jones Industrial Average ended the session at 24,706.35 which implies the rise of 499.19 points or 2.06% on the intraday basis.
What Factors Could Affect Oil Prices?
As the market players are already aware, the oil prices are sensitive to the conditions prevailing in the global macro-economic environment as well as the news about the trade war between the US and China. Moreover, the financial markets also tend to affect the oil prices and a favourable momentum in the global equity markets would support the oil prices. If the trade battle settles down on a permanent basis, it would significantly support the equity markets. A rise in the equity markets would favourably impact the oil prices largely because uptrend in the equity markets would reduce the worries about the oil demand.
Australian Markets Closed Marginally Higher
The Australian markets closed marginally higher today as S&P/ASX200 closed in green. On January 21, 2019, S&P/ASX200 closed the session at 5890.4 which implies a marginal rise of 10.8 points or 0.2%. It is important for the market players to know that the trade war settlement would significantly support Australian markets as well moving forward. The stocks like Pact Group Holdings Limited (ASX:PGH) and TPG Telecom Limited (ASX:TPM) closed the session in green as these stock encountered the rise of 6.906% and 4.803%, respectively.
On the other hand, the stocks like Sims Metal Management Limited (ASX:SGM) and Afterpay Touch Group Limited (ASX:APT) had closed the session in red as these stocks witnessed the fall of 16.073% and 5.28%, respectively. Sims Metal Management had released the update about the preliminary earnings for 1H FY2019. The company also announced changes with respect to segments as well as reporting. Read the full news here. Also, Spectur Limited (ASX:SP3) came forward and gave a business update. Read the full news here.
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