|Monday 13 May 2019|
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| Last+/-Daily %Global Equity Indices S&P500 2,881+11+0.4%DOW 25,942+114+0.4%NASDAQ 7,917+6+0.08%FTSE 7203-4-0.06%US 10-year bonds 2.473%+0.016 AUD 0.6988-0.0001-0.01%Commodities Gold US 1,286.05+1.97+0.1%WTI 61.66-0.04-0.06%BHP closedNew York37.11 Australia 36.80 SPI Futures 6,325+29+0.5% |
UK News UK stocks ended slightly lower even after data showed that UK economic growth picked up in the 1Q. There was some optimism earlier as traders were hopeful of a resolution to the US/China trade war. Eco data showed that the UK economy grew 0.5% in the 1Q , and up from 0.2% growth in the previous Q. My London colleague said this number was expected so didnt create too much excitement.In a strange move, British Airways rallied nearly 2% even as it said that profit more than halved in the 1Q as it was buffeted by rising fuel costs and stiff competition. US NewsUS stocks had a wild ride on Friday. They closed up approx 0.4% but at one stage were down 1.4% as new tarriffs on Chines goods kicked in.Not helping markets was a tweet from Trump that said ” Talks with China continue in a very congenial manner – there is absolutely no need to rush”.Stocks then staged a massive reversal after President Donald Trump said conversations with China over trade will continue and his relationship with President Xi Jinping remains strong.The Presidents Twitter was in overdrive. Lots of comments about what good friends he and Xi were but the tweet that fired up markets was this one…..” the US has imposed Tariffs on China, which may or may not be removed depending on what happens with respect to future negotiations!”Ride-hailing giant Uber began trading on the NYSE. The listing price was $45 and they closed at $41.40
Happy Birthday Bill Shorten 52,yesterday and Scott Morrison,51 today……… Market Call
A big week ahead with most of the Banks going ex-div. ANZ (80c) and MQG (3.60) today. NAB (83c) tomorrow and WBC (94c) on Thursday. These will take a little shine off any rally today……..up 11.
Dividends today – ANZ 80c MQG $3.60Dividends tomorrow – NAB 14cEco data due today — Aust Home Loans Eco data due tomorrow — Aust NAB Business Confidence UK Unemployment US Exports/Imports
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