Saturday, 29 June 2019

Markets mostly higher as “all eyes on G-20”

Markets were mostly higher on Friday.

The S&P 500 rose 0.6 percent while the STOXX Europe 600 rose 0.7 percent. However, the Nikkei 225 fell 0.3 percent.

“All eyes are on the G-20,” said James Masserio, head of equity derivatives trading of the Americas at Societe Generale, ahead of the meeting between US President Donald Trump and Chinese President Xi Jinping at the G-20 summit in Japan.

Analysts generally do not expect much from the meeting but think that a ceasefire in the trade war is likely.

“The Trump administration has signaled for weeks that the president again wants a trade deal with China,” said Derek Scissors, an analyst with the American Enterprise Institute. “The U.S. will agree to suspend the $300 billion tariff and talks will restart.”

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