Nike has dropped to lows unseen since November of 2020 as it faces a boycott in China over Xinjiang's cotton issues.
American equities tack on before the release of US economic data
On Wednesday, US equities started with a jump. Market participants have dismissed concerns about political instability in Italy and expect US economic data to be uncovered soon.
The Dow blue-chip index futures went up 0.56% to 24514.0, the S&P 500 futures rallied 0.48% being worth 2,705.25. Futures of the high-tech Nasdaq 100 jumped by 0.36% trading at 6969,50.
On Tuesday, market participants were worried about the worsening political crisis in Italy. The likelihood of forming a government at the last minute seems unlikely compared with the probability of a repeat election in July. Traders fear that early elections in Italy are going to be a pure referendum on the country's further stay in the European Union.
Tensions in trade relations between the United States and China persist after Donald Trump told on Tuesday that the imposition of tariffs on imported Chinese goods was approaching $50 billion. Chinese officials told that notwithstanding the shocking statements by the US government, China will be able to protect its national interests.
Equities of the brewing company Anheuser Busch Inbev , which tacked on by 1.69%, turned out to be one of the surge leaders. Equities of the social network company Momo Inc rallied by 1.43%, and the shares of Royal Dutch Shell ascended by 2.08%.
In addition to this, Nokia Corp ADR declined 0.34%, while shares of NXP Semiconductors NV edged down approximately 3.67% after a message that the manufacturer of Qualcomm chips will get permission from China to buy a Dutch company.
Market participants also expect several American economic reports, which will enable them to assess the strength of the American economy.
Meanwhile, in Europe stock were generally in the green zone. The French CAC 40 dived by 0.24%, the German DAX soared by 0.52%, the London FTSE 100 added by 0.27%.
Coinbase Global Inc., the leading cryptocurrency exchange in the US, will go public on the Nasdaq index on April 14!
The American inflation rate is announced on Tuesday at 15:30 MT. It’s an important event for traders as it will impact hugely currency pairs with the USD.
In this article, you'll find the latest news and tech analysis of EUR/USD, gold, and GBP/USD!