Weekly News Summary for March 8-14, 2019
Friday, March 8: China Reports Weaker-than-Expected Trade Data
China on Friday further reinforced signs of economic slowdown after its trade data for February came in much weaker than expected.
Customs data showed that February exports fell 20.7% from a year earlier to mark as it biggest drop since February 2016, while its imports tumbled at 5.2%, widening from a 1.5% decline registered in January.
Monday, March 11: Boeing Shares Tumble after Second 737 MAX Crash
Boeing’s stock slipped more than 5% on Monday after China, Indonesia, and Ethiopia ordered their airlines to ground their 737 MAX 8 planes following the model’s second deadly crash.
The accident, which came five months after a deadly crash involving the same aircraft in Indonesia, renews safety concerns over the newest version of Boeing’s best-selling line of jets.
Tuesday, March 12: Dow Hits New Session Low as Boeing’s Stock Falls
US Dow futures hit a new session low on Tuesday as Boeing’s shares extended losses after several countries and airlines grounded the planemaker’s 737 MAX 8 jets.
The 30-stock index was down 0.4%, with Boeing accounting for around a 150-point fall, while the Nasdaw and S&P 500 added 0.3%.
Wednesday, March 13: Gold Near 2-Week High on Brexit Uncertainties, Weaker Dollar
Gold prices climbed to its highest level in almost two weeks on Wednesday as traders chose the safe-haven metal after British Prime Minister Theresa May’s Brexit agreement received another rejection from the Parliament and as the dollar weakens after a softer US data.
Spot gold was up at $1,303.74 an ounce, after hitting its highest since March 1 earlier in the session at $1,304.63, while gold futures gained $1,303.80 per ounce.
Thursday, March 14: European Stocks Climb after No-deal Brexit Rejected
European stock markets registered a five-month high on Thursday after the British Parliament rejected a disorderly departure from the European Union (EU), although markets remained cautious as another critical vote to put Brexit on hold is expected on Thursday.
The pan-European STOXX 600 rose 0.3%, while the FTSE 100 shed 0.1% and the pound pared gains acquired during the prior session.
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