Market Update: How Did The Markets Trend Today?

Market Update: How Did The Markets Trend Today?

Dow Jones Industrial Average Ends Marginally Lower: A Brief Look

It can be said that, in the current scenario, the market players are closely tracking the news about the trade war between the US and China as this battle has the potential to significantly influence the broader equity markets. It can be also be related that trade battle worries have weighed over the sentiments of the global market players and the settlement of the battle might help the sentiments of the market participants as well as global equity markets. Not so long ago, the market players took the hint that the US Federal Reserve would be patient with regards to the interest rate hikes. The investors were eagerly waiting for this type of news as there have been worries about the global economic slowdown.

Moreover, the market players are of the view that the trade battle between the US and China has negatively impacted the broader economy of China. On February 19, 2019, Dow Jones Industrial Average ended the session in green as the index rose marginally by 8.07 points or 0.03% and closed at 25,891.32. Also, S&P 500 Index has witnessed the marginal rise of 4.16 points or 0.15% and got wrapped up at 2779.76.

What Factors Could Affect Oil Prices?

As the market participants are aware, the oil prices are sensitive to the macro-economic conditions as well as to the movements in the broader financial markets. If the equity markets witness a decline, it would create the uncertainty with respect to the oil demand which, in turn, might pull down the prices of oil. However, considering the present environment, the oil prices are primarily getting influenced by the US sanctions as well as supply cuts. Moving forward, the oil prices might also be sensitive to the news about the trade battle between the US and China.

Australian Market Ends Marginally Lower

Today (i.e. February 20, 2019), the Australian markets wrapped up the session marginally lower as S&P/ASX200 ended the session by witnessing the fall of 10.4 points or 0.2% and it closed at 6096.5. Earlier, the central bank of Australia i.e. Reserve Bank of Australia has kept the cash rate unchanged. The cash rate happens to be 1.50%. As per the minutes of Monetary Policy meeting, the growth in the China had witnessed a slowdown and authorities have been easing the policy so that the growth can be supported, and they have been paying attention towards the risks in financial sector.

Today, Corporate Travel Management Limited (ASX: CTD) and Emeco Holdings Limited (ASX: EHL) wrapped up the session by rising 14.689% and 13.615%, respectively. While, Pact Group Holdings Limited (ASX: PGH) and McMillan Shakespeare Limited (ASX: MMS) had closed the session lower by falling 17.042% and 12.775%, respectively. Crown Resorts Limited (ASX: CWN) had made an announcement about the half year ended December 2018. Read the full news here. Also, Steadfast Group Limited (ASX: SDF) released the 1H FY 2019 results. Read the full news here.

Overall, it was a mixed day with many swings noted in the market; and material sector, by and large, settled in green zone and consumer staples in red.

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