It’s been a broadly positive end to
the week for equity markets across Asia with a weak Yen continuing to prop up
the Nikkei, whilst stocks listed on Shanghai moved higher amidst speculation
that further government stimulus measures were likely to be required. Data
overnight from Beijing saw weaker than expected lending data round off what has
been a rather disappointing few days for data from the world’s second largest
economy and with this trend now expected to continue, the expectation is that
some targeted stimulus policies will have to be deployed.
Wall Street is looking at a mixed
start to the day’s trading but we do have those advance retail sales numbers
still to come before the opening bell. There’s a clear concern that the fed
could tighten monetary policy sooner than expected so anything that makes this
number look a little hot could in turn send shockwaves across the market. New
sanctions against Russia also have the potential to impact some US listed
stocks given the number of joint ventures between oil companies so the details
of these will be under scrutiny when released. For now however we’re calling
the DOW down 9 at 17040 and the S&P up 2 at 1999.
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