Weekly news summary for Jan 11 to Jan 17
Friday, Jan 11: US Stocks Might End Longest Rally since September
US stocks indicated a flat open on Friday but a slight decline in the S&P signaled the end of the S&P 500’s longest rally since September as the probability of a downturn in the US reached a six-year high.
Dow futures added 0.01%, while S&P 500 shed 0.08% and the tech-heavy Nasdaq 100 futures slipped 0.16%.
Monday, Jan 14: China’s Exports Hit its Lowest in Two Years
China’s exports unexpectedly took a sharp decline in December, reinforcing fears that the world’s second-biggest economy would falter further.
Government data showed the country’s December exports dropped 4.4% from 2017, with demand falling in most of its major markets, while imports also contracted by 7.6% in their largest fall since July 2016.
Tuesday, Jan 15: Oil Prices Recover, Demand Outlook Turns Dim
Oil prices were up more than 1% on Tuesday amid production cuts by the OPEC and Russia, although a gloomy economic outlook is expected to drag on demand.
Recovering from a more than 2% fall in the previous session, Brent crude oil futures gained 1.3% from their last close, while the US West Texas Intermediate rose 1.4%.
Wednesday, Jan 16: Global Stocks Rise amid Brexit Deal Collapse
Global stock markets showed optimism on Wednesday, as investors saw that a disorderly no-deal Brexit was less likely following the sound defeat of UK Prime Minister Theresa May’s Brexit proposal.
Asian equities mostly ended with record highs, while European shares also climb, although the FTSE 100 slipped around 0.5% due to a stronger British pound.
Thursday, Jan 17: Dollar Gains, Pound Falls on Softer Risk Sentiment
The US dollar strengthened against a basket of its major peers on Thursday, while the sterling edged lower amid subdued market sentiment.
The dollar index added 0.14%, having gained around 1% in the last five sessions, while the pound shed 0.18% as doubts over Brexit continued.
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