Global Market Report - February 25

News that the US has delayed imposing tariffs on $200 billion of Chinese products sent China markets up nearly 6% on Monday

James Gard 25 February, 2019 | 7:00PM

North America

US stock futures are predicted to bounce today on positive trade news


It’s a busy week ahead for Federal Reserve chair Jerome Powell. He testifies before the Senate banking panel on Tuesday. He also delivers his twice-yearly testimony to the House of Representatives panel the day after. And on Friday he speaks on “economic developments and longer-term challenges”.

February’s consumer confidence index is due on the same day and is released after the market opens.

Canadian inflation is expected to have dropped back from 2% to 1.4% from December to January, as measured by the consumer price index. Canada’s economy is forecast to have grown by 1.4% in December from the same month in 2017.

Weekly jobless claims to February 23 will be released as usual on Thursday at the same time as the final reading of US fourth quarter GDP.




Considering the strong move in China markets on Monday morning, European indices made only modest gains today. The FTSE 100 pushed through 7,200 points in early trading, but has since slipped black. Persimmon (PSN) was the biggest faller as investors took fright at the idea that the housebuilder could lose the Help to Buy contract. The share price fell 134p to £23.34 in morning trading.

There is a relatively light European economics calendar this week, although there are a number of consumer confidence indices out – in the UK and for the Eurozone. German inflation is in view on Thursday.



China’s Shanghai Composite Index roared back into bull market territory today with a gain of 5.6% on Friday’s close. The trigger was the news that President Trump has delayed the imposition of new tariffs on Chinese goods, which was due to kick in on Friday. A follow-up summit in Florida with China’s Xi Jinping is also on the table.

Allied to the news on trade tariffs is the latest meeting between Presidents Trump and Kim in Vietnam.

China manufacturing figures for February are due on Friday.

Hong Kong’s Hang Seng gained 0.5% on the day to close just below 29,000 points. The index started the year at 25,000 points to the rebound has tracked China’s stunning recovery so far this year.


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James Gard

James Gard  James Gard is subeditor for