Art Hogan, chief market strategist at National Securities, describes Thursday’s session as ‘pretty fair and balanced’.
US and Chinese negotiators are working to finalise a preliminary trade deal announced in October that would block new tariffs expected to take effect this month. Officials have sent mixed signals on the talks, sending shares gyrating this week.Art Hogan, chief market strategist at National Securities, described Thursday’s session as “pretty fair and balanced” after the market’s “Pavlovian” moves in recent days on trade news.
British stocks were pressured by a rise in the pound’s value against other major currencies, which limits profits at companies that earn substantial amounts of their revenues in US dollars. Faced with slowing global economic growth and abundant reserves putting pressure on oil prices, Opec and its partners could seek to deepen output cuts when they meet in Vienna on Thursday and Friday.