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Global Market Report - April 23 2019

Investors have a lot to take on board this week, including higher oil prices, tech earnings from the likes of Amazon and Facebook and US GDP at the end of the week

James Gard 23 April, 2019 | 11:14AM

Global Market Report

Asia

China’s Shanghai Composite continued its weaker trend today, dropping below 3,200 points with a modest daily loss.

The Bank of Japan meets this week and will produce its outlook report and rate decision on Thursday. After that, a range of economic data, including industrial production, retail sales and jobless figures, will be released.

Europe

As London traders return from the extended Easter break, there is a renewed attempt by the FTSE 100 to hit 7,500 points after a number of attempts. This move was despite a move higher in the pound back above $1.30.

The FTSE 100’s gain was in contrast to the sea of red seen across European stock markets this morning.

North America

There are plenty of variables for US investors to grapple with this week, including resurgent oil prices, the NASDAQ hitting a six-month high, and a raft of earnings from tech giants. Today sees Twitter (TWTR) report numbers from the first quarter and auction house eBay (EBAY).

We are now deep in the tech section of Q1 earnings season: Facebook (FB) and Microsoft (MSFT) report on Wednesday, while Amazon (AMZN) reports after the market closes on Thursday.

US futures point to a flat open on Tuesday as investors weigh up the significance of around 1 million barrels of oil a day being removed from the market in the next week or so. Crude prices moved higher on these latest US sanctions on Iran, with Brent moving up to $74.50, a year-to-date high.

In economics, Canada is expected to hold interest rates at 1.75% on Wednesday, while Friday will see US GDP for the first quarter released.

 

 

 

The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Amazon.com Inc1,767.45 USD1.79
eBay Inc38.88 USD1.36
Facebook Inc A188.89 USD3.06
Microsoft Corp141.56 USD1.44
Twitter Inc40.28 USD1.26

About Author

James Gard  is content editor for Morningstar.co.uk

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