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The movement in global markets gets affected by geopolitical worries and the overall health of the global economy. Any unfavourable news related to global economic growth can have a negative impact on the equity markets and it can also weigh over the sentiments of market players. The US markets are being impacted by the trade worries with the European Union. The trade disputes could be detrimental to the overall health of the global economy and, as a result, the equity markets witness a downfall. Also, some of the market trackers are of the view that the growth might witness an unfavourable momentum moving forward. If the trade battle settles down, it could be of help to the momentum of broader equity markets and can also help in reviving the confidence of market participants.
Yesterday (i.e., April 9, 2019), Dow Jones Industrial Average closed the session in red as the index witnessed the fall of 190.44 points or 0.72% and got closed at 26,150.58 on an intraday basis. Also, on the same day, S&P 500 Index got closed at 2,878.20 which implies a fall of 17.57 points or 0.61%.
Global Economic Factors, Geopolitical Worries Affect Oil Prices
The oil prices are influenced by several macro-economic factors and movement of the stock markets. If the worries about global slowdown increases, it could influence the oil prices primarily because the market players expect that the downturn could affect the oil demand. Also, any news which indicates that the global economic growth is in danger could affect the movement of oil prices. In the present scenario, it can be assumed that the oil prices are mainly affected by US sanctions as well as production cuts.
Australian Markets Closes in Green: S&P/ASX200 Ends Slightly Higher
The Australian markets are very sensitive to the movement of global equity markets and the news related to the trade battle. Also, the overall health of global economy influences the broader momentum of Australian equity markets. Today (i.e. April 10, 2019), the Australian markets ended the session in green as S&P/ASX200 got closed at 6,223.5 which implies a marginal rise of 1.7 points. Coming to the performance of stocks, Seven West Media Limited (ASX: SWM) and Estia Health Limited (ASX: EHE) closed the session in green as their prices have witnessed the rise of 6.186% and 3.273%, respectively on an intra-day basis.
On the other hand, the stocks like Crown Resorts Limited (ASX: CWN) and Independence Group NL (ASX: IGO) have ended the session in red as their prices have encountered the fall of 9.11% and 4.134%, respectively on an intraday basis. We would now be having a look at some of the important news. Credit Corp Group Limited (ASX: CCP) made an announcement of its share purchase plan in order to raise up to $10 million. In order to read the full news, please click here. Also, Gateway Mining Limited (ASX: GML) had wrapped up the capital raising amounting to A$2 million. In order to read the full news, please click here.
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