Market moving daily news roundup – events & news likely to move markets 4th September 2019
Company performance, economic and political events but especially market sentiment will always influence market movement, good or bad.
Economic calendar – scheduled news and events 4th September 2019
Australia – GDP data due
China – service PMI reading due
EU – Lagarde speech due
Spain – services PMI reading data due
Italy – services PMI reading data due
France – services PMI reading data due
Germany – services PMI reading data due
EU – services PMI reading data due
UK – services PMI reading data due: 09:30 BST
EU – retail sale data due: 10:00 BST
U.S. – mortgage data due: 12:00 BST
U.S. – trade balance data due: 13:30 BST
Canada – international trade data reading due: 13:30 BST
UK – BoE’s Governor speech due: 14:15 BST and inflation hearings report due
U.S. – Various Fed member’s speeches due from: 14:30 BST
EU – Various ECB member’s speeches due from: 15:00 BST
Canada – Bank of Canada interest rate decision due: 15:00 BST
UK – next stage Parliamentary vote on Brexit due: 18:00
The UK government loses vote in parliament and subsequent control over Brexit. Parliament are trying to prevent a ‘no-deal’ Brexit.
My question is this, ‘did the referendum vote give parliament the mandate to take control on a no-deal stance?’ Is this democracy at its best or worst? The referendum vote was to ‘leave’ not leave ‘sort of!!’ The Government and parliament have to respect the referendum result and carry out the wishes of the people. We have to leave!
A snap general election is now much more likely, but can it gain the two thirds majority vote needed? The commons vote created yet more uncertainty. Will the PM get the election he wants – possible not if Labour get their way.
Sterling remains in the land of ‘volatility’.
Update – Judge rejects parliament shutdown legal challenge.
Other market moving news points
Asian markets on the rise.
Hong Kong stocks soar on reports that the extradition bill may be formally withdrawn.
M&S dumped from FTSE 100
Marks & Spencer to be unceremoniously dumped from the FTSE 100. Barratt profits and house building figures up but manufacturing and construction see downturn. Halfords sales fall. Furnishing retailer Dunelm has reported a jump in annual pre-tax profits.
Sterling gets a boost this after Parliament voted on a bill that could postpone Brexit if the UK cannot agree a deal with the EU. Sterling at $1.22. UK services sector slows according to PMI data released this morning.
U.S. President Donald Trump said it will be much tougher for China to get a deal if it waits until after the U.S. 2020 presidential election – and if Trump wins! Reports also allege Trump was VERY unhappy with China’s response round of retaliatory tariffs.
Dow futures up around 200 points at: 12:15 BST 4th September 2019.
A report out today suggests Japanese car sales in South Korea have fallen sharply.
UK – The PM is back at the despatch box after a tough day yesterday taking questions. Brexit dominates PM’s question time. The chancellor announces the governments eagerly awaited spending review. The shadow chancellor labels it a sham
Gold pulls back from 6-year high as attention turns to riskier assets such as equities.
A report suggests that the Hong Kong leader, Carrie Lam has withdrawn the contentious extradition bill that has been instrumental in months of protests. The Dow opens up over 200 points as Hong Kong tensions ease.
Starbucks shares fall after releasing a weaker than expected forecast – stocks drop.
UK – MPs start to debate a bill that could block a ‘no-deal’ Brexit and trigger Boris Johnson to seek a general election.
Parliament vote results
Brexit delay bill (aimed at stopping a ‘no-deal’ Brexit) is backed by MPs. Bill now goes to the House of Lords.
Boris Johnson fails to get MPs backing for a general election.
Stock market indices update, 4th September 2019
Closing positions of: FTSE 100, DAX, DOW, S&P 500, NASDAQ, NIKKEI & GOLD
FTSE 100 – closed at: 7311
DAX – closed at: 12025
DOW – closed at: 26355
S&P 500 – closed at: 2938
NASDAQ – closed at: 7977
NIKKEI – closed at: 20649
GOLD – closed at around: $1,552
Key: Green highlight markets move up. Red highlight markets move down. All values rounded.