Global market report - April 9 2019

World markets apart from China were broadly positive on Tuesday, but futures suggest a mixed open for US stocks as oil prices and new trade anxieties weigh on sentiment

James Gard 9 April, 2019 | 6:00PM

North America

 

Early futures contracts suggest a sideways move for the Dow Jones at the open and a slight loss for the S&P 500. The latest news on trade, the US’s attempts to impose levies on European goods, is potentially unsettling for global investors after the long-running US-China dispute showed signs of resolution.

Oil remained at elevated levels.

Newly floated jeans company Levi’s (LEVI) publishes earnings today ahead of the deluge of results from major companies at the end of this week.

US inflation figures due tomorrow are one of the highlights of the economic calendar this week. Consumer Price Index is expected to have risen by 1.8% in March on the same month last year, up from 1.5% in February.

Mexican inflation numbers are also due today.

Inflation figures on Wednesday are followed by FOMC meeting minutes and the University of Michigan sentiment later on in the week.

 

Europe

 

Markets are modestly higher in Europe this morning, with Spain leading the way. The UK’s FTSE 100 edged closer to 7,500 points, a level it was last seen at in September last year before the Q4 meltdown.

The pound has nudged higher as UK Prime Minister Theresa May heads to Brussels to meet French and German leaders in an attempt to break the Brexit impasse.

The European Central Bank interest rate decision and press conference is due tomorrow lunchtime.

Asia

 

China stood out today as a faller among broadly positive Asia-Pacific markets, with Japan, South Korea and Hong Kong indices all higher on the day. Still, the Shanghai Composite Index was off just five points at 3,239 at the close.

Chinese inflation figures are due at the end of the week.

 

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James Gard

James Gard  James Gard is subeditor for Morningstar.co.uk.