Weekly news summary for Dec 28 to Jan 3

Friday, Dec 28: US Stocks Extend Rally, Set for Worst Month of Dec.

US futures indicated a continuation of the rally after Wall Street’s major reversal, with the Dow futures climbing 104 points, the S&P 500 futures gaining 13 points, and Nasdaq 100 futures adding 27 points.

Still, stocks were set for their worst month of December since 1931 and both the Dow and S&P 500 have declined more than 6% for all of 2018, while the disruption since a September peak has wiped out over $7 trillion in stock value.

Monday, Dec 31: Crude Oil Prices Likely to Trade Below $70 in 2019

Oil prices appeared to be on track to trade below $70 per barrel in 2019 as oversupply concerns and slowing economic growth weigh on OPEC-led efforts to bolster the market.

Survey conducted by a UK news agency showed the North Sea Brent crude oil benchmark, which has averaged $71.76 in 2018, will drop around $69.13 per barrel next year, over $5 lower than November’s forecast.

Tuesday, Jan 1: China Dec. Factory Activity Hits First Contraction

China pointed to a shaky start in 2019 as factory activity and export orders in the world’s second-largest economy faltered, reinforcing signs of a slowing economy.

A private survey showed China’s factory activity in December contracted for the first time in 19 months, while new export orders fell for the ninth month in a row.

Wednesday, Jan 2: Oil Prices Register 1% Drop on Demand Concerns

Oil prices fell more than 1% for the first trading day of the new year as disappointing Chinese economic data raised concerns over staggering demand.

US West Texas Intermediate crude oil futures were down 1.19% to $44.87 per barrel, while Brent oil futures slipped 1.34% to $53.08 per barrel.

Thursday, Jan 3: Apple Cuts Revenue Outlook as China Sales Decline

Apple made a rare decision to lower its quarterly sales forecast, citing declining demand in China, and prompting a slump in US and Asian stock markets on Thursday.

Apple CEO Tim Cook stated that sales will be about $84 billion in the quarter ended December 29, below earlier forecast of $89 billion to $93 billion, suggesting a holiday quarter slowdown for the first time since Cook became CEO in 2011.

  • Support
  • Platform
  • Spread
  • Trading Instrument
Comments Rating 0 (0 reviews)

Get the latest economy news, trading news, and Forex news on Finance Brokerage. Check out our comprehensive trading education and list of best Forex brokers list here. If you are interested in following the latest news on the topic, please follow Finance Brokerage on Google News.

You might also like

Leave a Reply


Subscribe to Our Newsletters

Have the best of Finance Brokerage News delivered directly to your mailbox. Subscribe now to receive the latest market news.