Hello trader's here's the weekly market news recap. Have a great weekend and wishing you all a Happy Holidays !Hello trader's here's the weekly market news recap. Have a great weekend and wishing you all a Happy Holidays !
Posted by Finance Brokerage on Friday, December 28, 2018
Weekly news summary for Dec 21 to Dec 27
Friday, Dec 21: Stocks Fall, Nikkei Hits Lowest since Sept. 2017
Global stock markets extended a sharp selloff on Friday, with Japan’s Nikkei hitting its lowest since mid-September 2017, as worries over global economic growth and imminent shutdown of the US government continued to affect risk appetite.
Dow futures were down 0.42%, while S&P 500 futures fell 0.44% and the Nasdaq 100 futures slipped 0.51%. European shares were also in the red.
Monday, Dec 24: Dollar Down on US Political Uncertainty
The dollar edged lower at the start of the week as sentiment in financial markets remained weak on growing concerns over political uncertainty in the US.
The US dollar index stood at $96.20, dropping 0.25% against a basket of six major currencies.
Tuesday, Dec 25: 10-year JGB Yield Falls to Zero for the First time
Japanese government bond yields plunged to multi-month lows on Tuesday as US political instability hit global financial markets, resulting in the worst day for Tokyo stock prices in more than two years.
As risk-off dominates, the benchmark 10-year JGB yield dropped to zero percent for the first time since September 2017, before recovering later in the session to trade down at 0.010%.
Wednesday, Dec 26: US Treasury Yields at Their Lowest on Growth Fears
US Treasury yields continued to descend on Wednesday as developments in Washington further raised investors’ worry over a slowing global economy.
The 10-year note stood at 2.73% to mark its lowest since early February, while the 2-year bond yield hit a five-month low of 2.58%.
Thursday, Dec 27: China’s Industrial Profits Mark First Decline
China’s industrial profits marked its first decline since December 2015, as weakening external and domestic demand left businesses with more pressure to deal with by next year in a sign of growing risks to the world’s second biggest economy.
Earnings at the China’s industrial firms dropped 1.8% in November from 2017 to 594.8 billion yuan or $86.33 billion, the National Bureau of Statistics reported on Thursday.
