Global Financial Market Overview Aug 23
Global financial market overview as of August 23, 2018.
Dow Jones on August 23, 2018 fell as an ongoing trade war between the U.S. and China and worries of renewed legal issues for President Donald Trump dampened investor sentiment.
Dow Jones Industrial Average closed at 25,656.98, decreased 76.62 (-0.30%)
S&P Index closed at 2,856.98, decreased 4.84 (-0.17%)
Nasdaq Composite closed at 7,878.46, decreased 10.64 (-0.13%)
European stocks hovered around the flat-line before closing lower on Thursday after Beijing implemented new retaliatory tariffs against the United States. Both the U.S. and China increased there tariffs on $16 billion worth of goods.
Stoxx Europe 600 closed at 383.38 decreased 0.2%
Germany’s DAX Performance Index closed at 12,365.58, decreased 20.12 (-0.16%)
France’s CAC 40 Index closed at 5,419.33, rose 1.28 (-0.02%)
London’s FTSE 100 closed at 7,563.22, decreased 11.02 (-0.15%)
New York Gold Future slid under pressure from a stronger dollar as a prominent U.S. Federal Reserve official reaffirmed the central bank’s intention to raise interest rates and punitive trade tariffs between the United States and China kicked in.
COMEX decreased 9.30 USD or 0.8% for December delivery to close at 1,194 USD/ounce
Platinum for October decreased 15.30 USD or 1.9% to close at 778.40 USD/ounce
Palladium for September decreased 7 USD or 0.8% to close at 991.20 USD/ounce
WTI Oil Crude steadied on Thursday as an escalating trade dispute between the United States and China offset a bullish report on U.S. crude stockpiles.
West Texas Intermediate (WTI) crude for October delivery decreased by 3 cent or 0.04% to close at 67.83 USD/bbl
Brent crude for October delivery decreased 5 cent or almost 0.09% to close at 74.73 USD/bbl
United States Dollars snapped a five-day losing streak and the euro fell on Thursday, with the greenback boosted by political uncertainty, a new round of trade tariffs and the Federal Reserve’s latest policy meeting minutes that signaled a September rate rise.
The United States and China escalated their months-long trade war, implementing punitive 25 percent tariffs on $16 billion worth of each other’s goods, rattling investors who have sought safety in the dollar. The greenback also found support after the Fed’s minutes showed officials discussed raising rates soon.