The investors in the US markets finally get to witness a sigh of relief after the markets witnesses a positive impact ending the streak of marginal losses from the last four days. On September 28, 2018, Amazon.com Inc. (NASDAQ: AMZN), as well as Apple Inc. (NASDAQ: AAPL), were the primary contributors to the marginal gains witnessed in the US stock markets. The healthcare, as well as internet companies, witnessed the positive momentum. On the other hand, mining companies witnessed the downward momentum.
However, the banking stocks witnessed the negative impacts primarily because of the unfavorable momentum in the interest rates. On the other hand, the appreciation of the US dollar negatively impacted the prices of metals. The dollar movement also impacted the companies which are in the business of mining the metals.
Banking Royal Commission’s Interim Report Strengthened Australian Markets
Australian markets ended the quarter with the positive momentum as it was evidenced by the performance on the last trading day of the week. The banking stocks witnessed the robust momentum in today’s trading session. This performance was underpinned despite the release of the interim report by the Banking Royal Commission. On September 28, 2018, S&P/ASX 200 ended the day at $6207.6 marking the intraday gain of 26.4 points or 0.4%. Finally, it would not be wrong to say that the Australian markets marked an end to the quarter with the strong momentum.
In the entire week, the banking stocks impacted the markets. However, on the concluding day they witnessed upward trend offsetting the losses. However, banking stocks still ended the week lower. On September 28, 2018, Commonwealth Bank of Australia (ASX: CBA) gained 1.898%, Westpac Banking Corporation (ASX: WBC) rallied 1.159% and National Australia Bank Limited (ASX: NAB) rose 1.756%.
On September 28, 2018, Speedcast International Limited (ASX: SDA) fell 3.837% while Blackmores Limited (ASX: BKL) ended the day with the fall of 3.329%.
The Brent crude oil prices witnessed the strong upward momentum in the entire week pushed by the supply shortages. These shortages were the result of Iran sanctions as well as OPEC’s decision of not increasing the production levels. As a result, energy stocks witnessed strong momentum.
What’s happening with Sydney’s Housing Market?
Earlier, there were fears that the housing market in Sydney might get impacted because of increased prices as the income growth was expected. However, that concern is now over on the back of higher government taxes as well as higher lending rates. These factors have stopped the prices from reaching its peak.
What’s in For Market Participants Next Week?
The market participants need to prepare themselves for the lots of macro-news which would be hitting the markets next week. The trade tensions between the United States and China would obviously remain a concern. However, the market observers might get diverted from this concern. The Reserve Bank of Australia would be holding the meeting which could attract the attention of the broader markets. After this, the retail sales figures are slated to be released next week. These numbers would provide an idea of the strength of households that are in Australia.
On the international basis, the release of the PMI data is much awaited. These numbers would reflect the impact of the trade tensions on businesses.
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