· The benchmark S&P 500 stock index eked out a slim gain on Tuesday as President Donald Trump said the United States is close to signing an initial trade deal with China but offered no new details about negotiations.
On Tuesday, the Dow Jones Industrial Average .DJI remained unchanged at 27,691.49, the S&P 500 .SPX gained 4.83 points, or 0.16%, to 3,091.84 and the Nasdaq Composite .IXIC added 21.81 points, or 0.26%, to8,486.09.
The S&P 500 and Nasdaq hit all-time highs during trading but stocks ended off session highs after a highly anticipated midday speech from Trump, with investors concerned ahead of time about any comments that would worsen the tariff dispute that has convulsed markets for more than a year.
· European stocks closed higher on Tuesday amid hopes that U.S. President Donald Trump will delay a decision on whether to impose tariffs on EU autos.
The pan-European Stoxx 600 was up by around 0.5%, with telecoms stocks leading gains. Iliad was the top driver in the sector, up 20% on the back of strong earnings and the unveiling of a new share buyback plan.
Market sentiment has been lifted slightly after reports that President Trump would announce a delay to EU auto tariffs by six months, potentially averting another damaging dispute with a major U.S. trading partner.
· Asia stocks dipped Wednesday as investors awaited clarity on the first phase of an agreement between the U.S. and China that would ease some tariffs.
Japan’s Nikkei 225 declined 0.44% in early trade as shares of index heavyweight Fast Retailing fell 1.06%. The Topix index also shed 0.17%.
Shares of Japanese automaker Nissan plunged around 4%, after the company posted a roughly 70% year-on-year plunge in operating income for the second quarter.
Shares in Korea also saw declines, as the Kospi slipped 0.47%. Australia’s S&P/ASX 200 shed 0.17% as the heavily-weighted financial subindex fell more than 0.4%.
Overall, the MSCI Asia ex-Japan index traded 0.22% lower.
Market watchers also watched for developments in Hong Kong, where the political turmoil has escalated this week. Leader Carrie Lam said Tuesday that protestors “paralyzing” the city were selfish. On Monday, protests that started nearly six months ago took a violent turn.
Reference: CNBC, Reuters
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