Markets were mostly lower on Monday.
The S&P 500 fell 0.2 percent and the STOXX Europe 600 fell 0.3 percent. However, the Nikkei 225 rose 0.3 percent.
Oil prices were mixed on Monday even as tension in the Middle East persisted, with the US announcing financial sanctions on Iranian leaders. West Texas Intermediate crude rose 0.8 percent but Brent fell 0.5 percent.
Investors are probably also looking forward to the outcome of the meeting between US President Donald Trump and Chinese President Xi Jinping at the G-20 summit later this week.
“Financial markets welcomed the announcement that a full-blown standalone US-China ‘bilateral’ meeting would be held in the margins of the annual G20 Summit,” said Christopher Granville, managing director of global political research at TS Lombard.
However, Mike Mangieri, managing partner at Seven Points Capital, said: “It’s the Fed and nothing else matters.”
Indeed, the Federal Reserve could be about to make a big impact on markets, according to Bianco Research president James Bianco.
“The market is pricing in four cuts over the next year,” he said. That, he claimed, will eventually “drag the Fed kicking and screaming into it”.
No comments:
Post a Comment