Wk 44 wrap..3 Nov 2018 05:41
Wall St poor start took the shine of London's ftse & All, both lower at close. The 250, S/caps & Aim finished positively on the day.
London had started out with a bang on back of some stellar rises in the Far East but ytd nos are negative across all indices.
The Nikkei up over 550, Hang Seng surging 1070 & SH adding 70 all on hopes of Trump and X1 Jinping reaching an agreement on trade, "very good progress has been made" says Trump. Ytd no Asian mrkt is in the black.
Once again trade was the driver of US stocks all 3 indexes gaining on the week though slipping on Friday as conflicting messages from the White House took the shine off equities.
Trumps top economic advisor said their was little hope of a deal with China. Pity they cannot agree their messages to the mrkts.
The Dow fell 110, S&P off 17 & the
Nsdq down 77. Even some very good economic nos had little effect on the mrkts.
Wages up 3%, unemployment at a 48 year low and 250.000 new jobs added in October all went under the radar. Ytd the Dow is back in the black (+2.2%) the 500 (+1.8%)
& Nsdq (+6.6%).
The nos: Oil $72.83. Gold $1234.
£$ 1.297. £€ 1.139. Coin $ 6355.
Vix 19.51. MSCI u/c 490 (+3% on wk). G +17 & Gkp +1 on wk.
Morning all.