Market moving daily news roundup – events & news likely to move markets 9th August 2019
Company performance, economic and political events but especially market sentiment will always influence market movement, good or bad.
Market moving news roundup, 9th August 2019
Summary
Company news and reporting
U.S. – Uber Technology Inc. shares tank after reporting huge $5 billion loss.
UK – Advertising giant WPP – results better than expected.
UK – William Hill Plc reports loss – betting shop closures and introduction of the £2 stake limit to blame.
UK – Ryanair facing Spanish pilot strike vote.
UK – Ryanair pilots in the Republic of Ireland call for strike action.
Economic news and reports
Japan’s economy grew faster than expected. UK GDP figures show contraction, the first time since 2012 according to the Office for National Statistics – see ONS GDP data here. Is a recession likely?
UK’s latest Q2 data places UK GDP below France, Germany, Italy and Spain – not looking too good for the EU – but Spain’s GDP in the last quarter grew by 0.5%. Has the UK hit the buffers?
Italy is facing call for snap election. Sterling falls again to around $1.21 (midday 9th August 2019).
U.S. – The Dow Jones Industrial Average, the S&P 500 and the Nasdaq all opened lower amid renewed trade war fears. Market volatility is set to continue in what has been a bit of a ‘wild’ week.
UK – FTSE 100 also hits reverse gear losing all the days gains.
U.S. – Trump reportedly suggests he is ‘not ready to do a deal with China’. Is China ready to do a deal with the U.S.? Does that mean upcoming talks will be cancelled?
The threat of an extra 10% of U.S. tariffs on $300 billion of Chinese goods is still due to take effect on 1st September 2019.
U.S. – Trump not happy
Donald Trump said today that he may cancel next months’ trade talks with China. He also said he will not do business with Huawei. And he repeated his disdain of the Federal Reserve for not lowering interest rates by as much as he wanted.
Is the U.S. – China Trade war becoming a distraction? Is it moving the focus away from bigger problems in global economies?
The Dow Jones Industrial Average index closed down at: 26287 as concerns over trade and the economy linger.
Leave the EU – with or without a deal
UK – No-deal preparations ‘top priority’, says the UK prime minister. Boris Johnson said he would prefer to get a deal but the UK must leave the EU by 31 October ‘whatever the circumstances’.
Bearing in mind this will be the UK’s second attempt to leave – the first being 31st March 2019. Just get it done! The UK voted to leave!
If as much time was spent ‘getting on with the job’ as is spent ‘talking’ about it – the UK would be in a much better place by now.
If the EU refuse to re-negotiate a more favourable deal, then UK must be prepared to leave. It has to happen either way. It’s not complicated, the decision has already been made… the people of the UK voted to leave the EU.
Please, just get on with it!
Huawei announces new operating system – HarmonyOS
Huawei Technologies Co. Ltd. has unveiled HarmonyOS – its own mobile operating system to compete head on with Google’s Android OS.
Earlier this year Huawei was blacklisted and its licence to access the Android OS was revoked following allegations of ‘alleged’ spying. U.S. President Donald Trump reinstated Huawei’s access.
Looks like Huawei may not now need Google’s Android OS? Could this development help Huawei become a challenger to Google’s Android operating system?
Check out the previous daily market moving news round-up.
Stock market indices update 9th August 2019
Closing positions of: FTSE 100, DAX, DOW, S&P 500, NASDAQ, NIKKEI & GOLD
I trade these indices on a regular basis
FTSE 100 – closed down at: 7254
DAX – closed down at: 11694
DOW – closed down at: 26287
S&P 500 – closed down at: 2918
NASDAQ – closed down at: 7959
NIKKEI – closed up at: 20684
GOLD – closed at around: $1,496
Key: Green highlight markets move up. Red highlight markets move down.
End