Market Update: Trade War Fears Continue To Disrupt Market Sentiments

  • Oct 24, 2018 AEDT
  • Team Kalkine
Market Update: Trade War Fears Continue To Disrupt Market Sentiments

The US markets ended on a weaker note on October 23, 2018 as Dow Jones Industrial Average settled the day at 25,191.43 which implies that the index fell by 125.98 points or 0.50%. It can be said that currently the markets are being driven by the earnings results. The primary reason which has led to the downfall in the stocks was that the big US companies have not been able to impress the market players with their earning results. The numbers which were reported by 3M as well as Caterpillar have disrupted the confidence of the market participants. The trade worries between the US and China are also weighing on the minds of the global investors. However, not so good performance by the Chinese stock markets has also raised concerns that the negative impacts would continue to adversely affect the global markets. Overall, the negative momentum was visible in the major indexes in the Asia region as well.

What Oil Traders Need to Do

Amidst the downturn in the global equities, the oil markets are also witnessing the impacts of the several global macro factors. The oil prices have now been witnessing the downtrend as Saudi Arabia has decided that it would be helping the global markets in meeting the supply requirements. The investors are still concerned about the Iran sanctions which would be commencing in early November 2018. OPEC as well as its allies would be increasing the production as much as possible so that oil demand could be met without disturbing the oil markets. With the disruption prevailing in the oil as well as equity markets, investors are resisting to deploy their money in these asset classes and are planning to make investments in the safe-haven assets. Moving forward, the investors need to be patient when it comes to investing in the oil markets as more fluctuations might be in store moving forward.

What’s Happening in Australian Markets

Since the negative momentum was visible in the global equity markets, Australian markets are not an exception. As anticipated by the global market participants, the Australian markets ended the session on a marginal weaker note. S&P500/ASX 200 settled at 5829 implying a marginal fall of 14.1 points or 0.2%. Regis Resources Limited (ASX: RRL) closed the session at A$4.390 per share implying an intraday rise of A$0.230 per share or 5.529%. However, Senex Energy Limited (ASX: SXY) ended the day by declining 7.527% primarily because of the lower sales revenues which it generated in the September 2018 quarter.

However, Catapult Group International Limited (ASX: CAT) came forward and released an update in regard to the first quarter performance. On the same day, the company has also given the FY 2019 outlook. The shares of Treasury Wine Estates Limited (ASX: TWE) tumbled and ended the day at A$15.540 per share representing the decline of 4.074%. This was at the back of lower wine export data to the US.

Any further negative momentum in the global markets would, in turn, impact the Australian markets. The oil prices would continue to have an impact on the global markets.

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