Markets mixed on Trump, Brexit... US economy grew in fourth quarter says US Commerce Dept...
Markets mixed on Trump, Brexit
Friday’s sessions on the world stock markets has been choppy so far with President Trump and Brexit among the key issues.
The US president is set to sign two executive orders today, focusing on the trade deficit and tariff enforcement. He has also caused concern by posting on Twitter than a meeting with China’s president Xi Jinping next week will be a “very difficult one in that we can no longer have massive trade deficits.”
Asian markets closed mostly lower, although Shanghai gained on better-than-expected manufacturing PMI. Tokyo’s Nikkei slipped on mixed data including a decline in household spending.
European markets are mostly lower as the EU negotiators set out their draft strategy for the Brexit negotiations. In a potential blow to the UK government’s plans, the document says that no trade deal will be agreed until the UK actually leaves the bloc, although an interim agreement may be reached.
Bargaining chips for the deal are likely to include agreement on protection for citizens of the two jurisdictions living in the other; and the payment by the UK for some of the bloc’s costs that were agreed pre-Brexit.
Wall Street and Toronto are expected to open lower. Canadian GDP data is due at 8.30am ET.
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Latest |
1 month ago |
1 year ago |
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North America (previous session) |
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US Dow Jones |
20,728.49 (+0.33 per cent) |
-0.40 per cent |
+17.21 per cent |
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TSX Composite |
15,578.76 (-0.50 per cent) |
+1.17 per cent |
+15.45 per cent |
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Europe (at 5.00am ET) |
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UK FTSE |
7,330.03 (-0.53 per cent) |
+0.92 per cent |
+18.71 per cent |
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German DAX |
12,247.08 (-0.08 per cent) |
+3.49 per cent |
+22.89 per cent |
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Asia (at close) |
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China CSI 300 |
3,456.05 (+0.56 per cent) |
+0.09 per cent |
+7.39 per cent |
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Japan Nikkei |
18,909.26 (-0.81 per cent) |
-1.10 per cent |
+12.83 per cent |
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Other Data (at 5.00am ET) |
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Oil (Brent) |
Oil (WTI) |
Gold |
Can. Dollar |
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52.83 (-0.25 per cent) |
50.28 (-0.14 per cent) |
1244.50 (-0.28 per cent) |
U$0.7493 |
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Aus. Dollar |
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U$0.7649 |
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US economy grew in fourth quarter says US Commerce Dept.
The third reading of US GDP shows that the economy grew by an annualized rate of 2.1 per cent in the fourth quarter, bettering the previous US Commerce Dept. estimate of 1.9 per cent.
However, the underlying concern is that for the whole of 2016, GDP was up just 1.6 per cent following a 2.6 per cent rise in 2015. The fourth quarter reading was down significantly from the 3.5 per cent growth of the third quarter.
