Market Update: Dow Jones Industrial Average Ended Higher Even Though Worries Prevail

  • Jan 16, 2019 AEDT
  • Team Kalkine
Market Update: Dow Jones Industrial Average Ended Higher Even Though Worries Prevail

It can be assumed that the fears of the global economic slowdown are still looming over the minds of the global market players. The unfavourable export and import data of China have also increased the worries about the slowdown. However, it can be said that the sentiments of the global market participants got supported after there were expectations that the Chinese economy would be supported by their officials. Moreover, it can be said that the support from the Chinese officials is very much needed at this point in time as the slowing Chinese economy could disrupt the global growth momentum.

Also, the market players need to remember that the earnings season with respect to the US companies is also in progress hence, the movements of the US markets would largely be dependent upon the earnings season. On January 15, 2019, Netflix (NASDAQ: NFLX) had ended the session on a strong note as the stock closed at US$354.64 per share which implies the rise of US$21.70 or 6.52%. Yesterday, JPMorgan Chase (NYSE: JPM) released the results for the quarter ended December 2018 which were weaker than expected by the market players. On January 15, 2019, Dow Jones Industrial Average ended the session at 24,065.59 which implies the rise of 155.75 points or 0.65%.

Will Oil Prices Cheer Up Investors Moving Forward?

The oil prices have been quite volatile largely because of the worries related to the global economic growth as well as other macro-economic concerns. Since the market players are aware that the oil prices are also dependent upon the financial markets, any unfavourable trade-war related news has the potential to disrupt the oil markets. If the worries about the global economic downturn rise, it would significantly impact the oil prices. Not so long ago, the oil prices were under the pressure of the worries about the slowdown as well as increased supply. Moving forward, the oil prices would largely be sensitive to the macro-economic news.

Australian Markets Closed Higher

The Australian markets closed the session higher today. On January 16, 2019, S&P/ASX200 closed the day at 5835.2 which implies the rise of 20.6 points or 0.4%. It can be assumed that the Australian markets might have benefited from the positive Dow Jones Industrial Average. The stocks like Ausdrill Limited (ASX: ASL) and Bingo Industries Limited (ASX: BIN) have ended the sessions on the positive note as these stocks have witnessed the rise of 8.511% and 7.389%, respectively. On the other hand, the stocks like Iluka Resources Limited (ASX: ILU) and Alumina Limited (ASX: AWC) had closed today’s session in red as these stocks have fallen 4.768% and 3.376%, respectively.

Navigator Global Investments (ASX: NGI) had come forward and made an announcement about the update related to the investment performance as well as AUM for the December 2018 quarter. In order to read the full news, please click here. Also, Lucapa Diamond Company Limited (ASX: LOM) had made an announcement about the update related to quarterly activities as well as cash flow.

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