Missile strikes
Iran’s retaliation for the killing of its top military general came overnight as a number of missiles struck two U.S. bases in Iraq.
Early reports appear to suggest that there were no casualties. President Trump tweeted, ‘All is Well!’
Oil prices increased as equities fell. Asian stocks pulled back with Japan’s Nikkei index down some 500 points in intra-day trading – later to close down at: 23205. U.S. stock futures fell too with the Dow falling some 400 points at one point as the news broke.
Resilient
However, global stocks generally proved once again to be very resilient as initial losses in U.S. futures, for instance, largely recovered. Markets stabilised.
Markets await further comment from the U.S President.
Scheduled news events likely to move markets today
President Trump due to make a statement Wednesday morning at 11am (ET).
Germany reported decline in manufacturing after release of data shows a lacklustre performance. Germany – 10 year bond auction.
EU – ECB’s De Guindos speech due.
U.S. Employment ‘change’ – data for December 2019 due for release.
Other market news
Travelex, the currency exchange company, has reported a cyber attack. The hackers are requesting $6 million to prevent ‘stolen’ customer data being posted online.
Sainsbury’s reported trading figures today (8th January 2020). Sainsbury’s said like for like sales fell by 0.7% in the third quarter (excluding fuel). Argos Christmas share of the toy and gaming markets declined from the previous years.
High Street food chain Greggs has reported a rise in sales. Total sales for the year to 28th December 2019 grew by 13.5%. The exceptional performance of Greggs continues.
Significant oil wells with prolific potential discovered off South America.
Carlos Ghosn gives extensive press conference slamming Japanese authorities.
UK productivity figures released by the ONS suggest that the labour productivity – output per hour – was up 0.1% in Q3 2019 compared with the same quarter of 2018 but remains weak.
U.S. – Dow opens flat but soon gains momentum after Trumps comments.
Nasdaq hist new all time high as Iran retaliation is less than feared.
It has been reported that the missiles launched by Iran missed the U.S. bases deliberately? Is this likely to be true?
Trump’s comments as he addresses nation sparks relief rally and S&P 500 surges to new all time high. Trump says sanctions will be increased and that ‘Iran appears to be standing down’.