Corona Virus
Stay Safe, FollowGuidance
Fetching Location Data…
Thomas Hughes
Price crash and bear market

The U.S. Markets Are Indicated Lower On Monday

The U.S. indices are indicated to open lower on Monday. Investor sentiment is souring due to lack of progress with trade negotiations and weak economic data from the EU. In trade news, both the U.S. and China said last week’s talks were productive and yet no progress was made. In addition, China’s planned trip to American farmland was called off furthering the appearance of discord among negotiators. At this time no deal is expected before the U.S. election. The Dow Jones is in the lead with a loss near -0.10% while the S&P 500 is down about -0.05% and the NASDAQ Composite is up 0.05%.

In economic news, the Chicago Fed’s National Activity Index shows conditions rebound in August. All four of the index’s sub-components improved from the last month although three of them are still negative. The headline reading is 0.10, up from -0.41 last month, and the three-month average improved to -0.05. The flash reading of Markit PMI is due out later today.

In stock news, shares of Facebook are under pressure as the Congressional probe into antitrust violations deepens. Congress members are now talking to CEOs and employees of Facebook’s partners about the company’s strong-arm tactics. In other news, Tesla faces a lawsuit over CEO Elon Musk’s pay package.


European Markets Fall Hard On German Data

The European markets are down across the board after weaker than expected German PMI data. Markit’s composite PMI fell below 50 and into contractionary territory as the manufacturing recession deepens. The manufacturing PMI fell to 41.4 and the lowest level in over ten years. The German DAX led today’s rout with a loss of -1.10% while the CAC fell -1.05% and FTSE fell a less severe -0.40%.

In stock news, Thomas Cook is the talk of the day. The ailing travel and leisure company says it can’t get emergency financing and must close its doors. The news comes as a shock to thousands of employees and travelers now stuck on vacation. The upshot is the company’s failure alleviates overcapacity in the industry and will boost results for others in the business.

Asia Mixed, Trade Talks In Focus

Asian markets were mixed although China showed some trade-related weakness. The Shanghai Composite and Hong Kong Hang Seng both shed nearly -1.0% while the ASX and Kospi both closed with small gains. Japan’s markets are closed today for a holiday. Shares of travel giant Fosun are the biggest mover in today’s market, down about -4.0%, because it is the largest shareholder in now-defunct Thomas Cook. In other news, oil prices are on the rise again due to news the Saudi’s will not be able to repair its oil facility as quickly as first thought. The new estimates are now “months” longer than first estimated.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker

  • Your capital is at risk
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.