China-U.S. trade uncertainty weighs on global stocks

Daniel Fowler
November 12, 2019

Monday's fall wiped out the Hang Seng's gains posted last week, when optimism over the prospects of a US-China trade deal lifted Asian markets.

A still-strong job market, interest-rate cuts by the Federal Reserve and better corporate earnings in the summer than analysts expected have all contributed to the almost 9% leap for the S&P 500 since late August.

There is no such thing as a buying and selling in U.S. Treasurys because of the Veterans Working day vacation.

He added that the Chinese administration wanted to make a deal more than he did, as the tariffs were generating "billions of dollars" for the US Treasury.

Investors will be watching for any trade commentary from Trump on Tuesday, when he is expected to speak at The Economic Club of NY. Such sudden snaps in movement are frustrating for investors who prefer looking at the longer term.

Shares in NY ended last week with healthy gains, though stocks wobbled between small gains and losses on Friday amid the conflicting signals about the trade talks.

"So now we need concrete evidence (of) a timeline on reaching and finalising the deal", Danske's Christensen said.

KEEPING SCORE: The S&P 500 was down 0.2%, as of 2:45 p.m.

Trump to offer a Veterans Day Parade tribute in New York
One of the Jews who was saved by Edmonds stand was also present for the event as well as Edmonds' granddaughter. The president is not expected to march along the parade route up Fifth Avenue.

The Dow Jones Industrial Average .DJI rose 10.25 points, or 0.04%, to 27,691.49, the S&P 500 .SPX lost 6.07 points, or 0.20%, to 3,087.01 and the Nasdaq Composite .IXIC dropped 11.04 points, or 0.13%, to 8,464.28.

About 5.5 billion shares changed hands in USA exchanges, below the 6.8 billion-share daily average over the last 20 sessions.

The group pays relatively big dividends, and investors have often flocked to them and other "defensive" investments when worries are high that the trade war will hurt the economy.

The Labor Department will report October data for the Consumer Price Index on Wednesday and for the Producer Price Index on Thursday.

Auto sales in China fell for a 16th consecutive month in October, with the number of new energy vehicles sold contracting for the fourth month in a row, data showed on Monday. Media reports have fueled speculation since last week about a potential Walgreens sale.

Increasingly violent protests are taking a further toll on Hong Kong's stock market, with shares falling more than 2 percent on Monday after police opened fire on protesters in the eastern part of the city, wounding at least one person.

European markets were mixed.

In Europe, Germany's DAX fell 0.4 per cent to 13,176 while the CAC 40 in France was down 0.1 per cent at 5,884.

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