Fears of recession rob stock markets their strength

By 28/08/2019News
Dax News

 

28.08.2019 – Daily report. The current global news situation continues to be tense. After the DAX sent a gentle signal of easing on yesterday’s trading day and dropped out of trading with a plus of around 0.6 percent at 11,730 points, today’s trading day is off to a weak start. At 11,670 points, the German stock market barometer is currently trading 0.5 percent lower.

Concerns in New York

The ongoing trade conflict between the two superpowers, the USA and China, is the ongoing burden, not only for the US stock markets. The recently contradictory statements of US government members on the current state of the conflict seems to be a source of sustained concern for investors. In any case, the US stock markets all closed their trading yesterday behind red signs. The Dow Jones lost 0.5 percent, corresponding to a closing price of 25,777 points. The broader S&P500 lost 0.3 percent to 2869 points.

Clouded sentiment in Asia

The specifications of the US markets were seamlessly taken up in Asian trade. Although the Japanese Nikkei Index gained 0.2 percent to a value of 20,487 points, its Chinese counterpart, the CSI300, lost 0.6 percent in the course of trading.

Little Movement in the Euro

The stronger losses of the European single currency at the beginning of the week seem to have stopped for the time being. Nonetheless, the euro is still trading below the USD 1.11 mark at USD 1.1089, almost unchanged from the previous day.

This is what the day brings

The economic calendar today is rather sparsely filled.
The only noteworthy events are the release of US Crude Oil Inventories at 4:30pm. CFD traders who have positions in oil should take a closer look at this date. Analysts expect stocks to fall by 2.112 million. Rising inventories could be a sign of weaker oil demand and a weakening economy.
Bernstein Bank wishes you successful trades.

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