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It can be said that the market players took a sigh of relief after there was some positive news from the trade battle between the US and China. The efforts are being made to end trade battle between the US and China as this battle has the potential to disrupt the global trade environment and can also derail prospects of global growth. However, still, some of the US officials are of the view that both economies need to do significant work before the trade battle gets settled. Any news from the trade war front can significantly influence the movement of broader markets. On February 27, 2019, Dow Jones Industrial Average ended the session at 25,985.16 which implies the decline of 72.82 points or 0.28% on an intraday basis. As far as sectorsâ performance on the same day is concerned, Industrials ended by rising 0.99% while the energy sector rose 0.66%. However, the sectors like basic materials and healthcare had ended the session on February 27, 2019 in red as they fell by 1.41% and 1.25%, respectively. Yesterday, the S&P 500 Index closed at 2792.38 which reflects the fall of 1.52 points or 0.05%.
Global Macro Parameters Support Oil Prices
The oil prices get influenced by several macro-economic parameters and also from the news related to trade battle between the US and China. The global uncertainties affect the movement in oil prices as the fear of a global economic downturn increases the questions related to oil demand. If the worries about oil demand increases, it would negatively impact oil prices. However, it is also important to know the actions from the OPEC also influences movement in the oil prices. The worries about global slowdown got increased after there were signs reflecting the weakness in the broader Chinese economy.
Australian Markets Ends in Green: A Quick Look!
Today (i.e., February 28, 2019), the Australian markets closed the session in green as the S&P/ASX200 Index closed at 6169 which reflects a rise of 18.7 points or 0.3%. Coming to the sectorsâ performance, the S&P/ASX 200 Consumer Staples (XSJ) witnessed the fall of 1.42% while the S&P/ASX 200 Materials (XMJ) also ended lower by falling 0.82%. Talking about the stocksâ performance, Bingo Industries Limited (ASX: BIN) and Automotive Holdings Group Limited (ASX:AHG) had closed the session in green as the prices of these stocks rose by 15.172% and 9.005%, respectively.
On the other hand, the stocks like Inghams Group Limited (ASX:ING) and National Storage REIT (ASX:NSR) had closed the session in red as the prices of these stocks fell by 8.182% and 6.133%, respectively. BrainChip Holdings Limited (ASX:BRN) had come forward and updated the market on Business and Financials. Read the full news here. Paragon Care Limited (ASX:PGC) had made an announcement of 1H FY 2019 results. Read the full news here. Also, QMS Media Limited (ASX:QMS) had made an announcement about the preliminary financial results for six months ended December 31, 2018. Read the news here.
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