Zuckerberg has lost 7 billion dollars as companies pull adds from Facebook. Catch the moment!
American equities stand still on political uncertainty
On Friday, American futures were intact because a potential trade conflict put pressure on market participants.
The S&P 500 futures tacked on 0.05% hitting 2,756.75, while Dow futures went down 0.07% being worth 24,907.0. Additionally, tech heavy Nasdaq 100 futures headed south 0.03% reaching 7,08.25.
Donald Trump has made a decision to have national security adviser H.R. McMaster fired. It appears to be the latest in a marathon of White House fires as well as resignations. The previous week ex-economic adviser Gary Cohn resigned having openly criticized Trump’s duties on aluminum and steel, while Secretary of State Rex Tillerson was sacked a bit earlier this week.
Fears of over a potential trade conflict also kept weighing on market participants. An import duty on steel and aluminum imposed by Trump has left investors on edge. Nevertheless, Canada and Mexico are enjoying a sudden exemption because the current administration would like to negotiate a trade agreement. Apparently, more duties could spur worries of a global trade feud and also put pressure on investor appetite for risky assets.
Qualcomm turned to be among the leading gainers in pre-market trade, soaring 4.36% following news that ex-chairman of the firm, Paul Jacobs is looking for funding for a buyout. Additionally, software company Adobe Systems Incorporated rallied 4.86% after a stronger than anticipated first quarter. At the same time semiconductor Micron Technology managed to grow 2.40%
Overstockcom Inc went down 12.55% having reported a 13% sag in the fourth quarter profit, while Chinese e-commerce giant Alibaba headed south 0.65%.
In the European Union equities rallied. Germany’s DAX went up 0.48%, France’s CAC 40 managed to surge 0.04%, while the FTSE 100 added 0.10% in London. As for the pan-European Euro Stoxx 50, the given benchmark acquired 0.19%, Spain’s IBEX 35 stood still.
The European central bank will publish the main refinancing rate and make a statement on Thursday, July 16, at 14:45 MT time. Also, the ECB’s press conference will be later at 15:30 MT time.
Optimism about the Moderna vaccine improved the market sentiment. Let’s have a closer look, what’s happening today.
The Canadian central bank will announce interest rates and make a speech on Wednesday, July 15, at 17:00 MT time. Also, the BOC press conference will be later at 18:15 MT time.