Wall Street down – trade talks and yield in focus

Wall Street fell sharply onTuesday due to the new concers over the US China trade talks and the Treasury yield curve.

According to markets, the Treasury 10-year yield curve, which indicates the coming recession, was one of the market concerns and the 10-yield hit its lowest value since September. The demand for longer-dated Treasuries rose.

Also President Donald Trump said on Tuesday that if the countries cannot solve the trade issues and differences, he is a “tariff man”.

Dow Jones fell 2,66 % and was 25 138 points. S&P 500 index fell 2,17 % to 2729 points and Nasdaq dropped 3,21 % and ended at 7202.

In Europe the decline was modest. In London the FTSE100  fell 0,56 % to 7022 points and German Dax-index 1,14 % to 11 335. In Paris the CAC40 -index ended down 0,82 % and was 5012. In Asia the stock markets were mixed and for example in Hong Kong the stocks rose 0,29 % , but in Tokyo the markets fell 2,39 %.

The UK Parliament was having Brexit discussions and the Parliament voted about the legal advice related to the topic. The outcome was that the Goverment will have to publish the full disclosure of the Brexit legal advice.

Euro and sterling ended slightly down and euro was 1,1341 dollars and sterling 1,2716 dollars.

The US stock and bond markets will be closed on Wednesday.

Business Finance

PM May: Brexit-deal is in the national interest

UK Prime Minister Theresa May said that the Goverment backed Brexit deal is the right one for the UK. She also emphasized the meaning of the deal to the UK as a whole country and said that it is in the national interest. PM May had the press conference at the Downing Street 10, London tonight.

During the press conference she told a couple of times that she believes the deal will be signed with the EU. EU leaders are planning to have the EU meeting on the 25th November.

May also underlined the timetable that UK will leave EU according to the plan, on March 29th next year.

She also argued that the deal will give full controll of boarders, money and law and ensure the employment of the UK citizens.

Stocks in Europe ended mixed, FTSE100 up 0,06 %, German DAX-index down 0,52 percent and CAC40-index down 0,70 percent. In the US, Wall Street was having positive trend, Dow Jones  up 0,56 percent, S&P 500 up 0,87 percent and Nasdaq up 1,54 percent.

Sterling against dollar was trading down at 1,7 % 1,277 dollars and euro against US-dollar was up 0,20 percent at 1,1333 dollars.

Business Finance

Wall Street to near new records

Both Nasdaq and S&P 500 were near new records  in New York today. Good performing tech companies fuelled the rally.

One of the big tech companies Microsoft announced its quarterly results with revenues 6 % increase to 21,7 billion dollars.

According to the company Office downloads were 100 millions on iPhones, iPads and Anroid tablets. Lumia mobile phones sales were up 18 percent to 8,6 million devices Year on Year.  

Operating income was down 5 % to 6,6 billion dollars. Microsoft made 190 million dollars restructuring charge due to Nokia acquisition.

Business Tech