Morning Briefing: Markets mixed on Chinese PMI, Trump

Markets mixed on Chinese PMI, Trump... Fed’s Williams sets bullish tone...

Morning Briefing: Markets mixed on Chinese PMI, Trump
Steve Randall
Markets mixed on Chinese PMI, Trump
 
There’s been a rebound for oil prices overnight following a larger US stockpiles draw but the market remains cautious.
 
Equities are mixed so far Thursday with Asian markets digesting weaker Caixan PMI data from China while the yuan strengthened. There were also gains in data for Australian retail sales and Japanese retail. Shanghai and Seoul were the weakest performing stock markets.
 
European markets are trending higher ahead of an expected announcement by Donald Trump regarding the Paris agreement on climate change. The UK election is a week today and politics there is being closely watched.
 
Wall Street and Toronto are expected to open higher. Canadian and US manufacturing PMI data is due.
 

 

Latest

1 month ago

1 year ago

 

North America (previous session)

US Dow Jones

21,008.65 (-0.10 per cent)

+0.46 per cent

+18.09 per cent

TSX Composite

15,349.91 (-0.15 per cent)

-1.45 per cent

+9.15 per cent

 

Europe (at 5.00am ET)

UK FTSE

7,546.64 (+0.35 per cent)

+4.76 per cent

+21.88 per cent

German DAX

12,663.57 (+0.38 per cent)

+1.81 per cent

+24.10 per cent

 

Asia (at close)

China CSI 300

3,497.74 (+0.14 per cent)

+1.69 per cent

+10.67 per cent

Japan Nikkei

19,860.03 (+1.07 per cent)

+2.85 per cent

+17.13 per cent

 

Other Data (at 5.00am ET)

Oil (Brent)

Oil (WTI)

Gold

Can. Dollar

51.25

(+0.97 per cent)

48.87

(+1.14 per cent)

1268.70

(-0.53 per cent)

U$0.7413

 

Aus. Dollar

U$0.7404
 
Fed’s Williams sets bullish tone
 
The president of the San Francisco Fed says that he expects three interest rate rises this year.
Speaking at an event in South Korea, Williams said "One big question mark is if there is big fiscal stimulus or other changes in the outlook that we see the economy is doing better than we thought.”
 
His bullish tone included the possibility of a fourth rate hike if there was a jump in the US economy.
 
He does not see any real changes in monetary policy in the months ahead and reaffirmed the commitment made by the Fed to move forward in a clear and transparent manner.
 

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