Record high stocks pause to gauge Sino-US trade outlook, company earnings

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 66%

United States News News

United States United States Latest News,United States United States Headlines

World stocks eased off record highs on Wednesday and U.S. and German bond yields slipped as euphoria over a Sino-U.S. trade deal was depleted by U.S.

The 18-month long trade spat should enter a quieter phase as U.S. President Donald Trump and Chinese Vice Premier Liu He sign an initial agreement that would boost Chinese purchases of U.S. manufactured and agricultural goods, energy and services.Dubbed the Phase 1 deal, it may soothe markets which have been on edge as the conflict between the world's two largest economies hit hundreds of billions of dollars in goods, uprooted supply chains and slowed economic growth.

The jittery mood gave a mild boost to safe-haven assets such as gold, with the precious metal ticking up 0.3per cent after two days of losses. The Japanese yen and high-grade bonds also firmed slightly, though the yen was only 0.1per cent higher versus the dollar and a whisker off 7-1/2-month lows of 110.22.

Markets are also weighing the potential impact of the U.S. government nearing publication of a rule to vastly expand its powers to block shipments of foreign-made goods to China's Huawei, as it seeks to squeeze the blacklisted telecoms firm. Big banks Goldman Sachs, Bank of America, BlackRock are among those reporting results later on Wednesday and expectations are high after JPMorgan posted record profits and Citi beat estimates, though Wells Fargo profits slumped.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asia stocks rally to record high ahead of US-China trade dealSINGAPORE (REUTERS) - Asian share markets rose on Tuesday (Jan 14) and safe-haven assets slid as signs of goodwill between China and the United States supported optimism for global growth, with the world's two biggest economies preparing to formalise a trade-war truce.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »

US: Wall St opens near record highs ahead of trade deal, earningsRead more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

CORRECTED-SE Asia Stocks-Most rise on Sino-U.S. trade deal optimismREUTERS
Source: TODAYonline - 🏆 1. / 99 Read more »

CORRECTED-SE Asia Stocks-Most rise on Sino-U.S. trade deal optimismSE Asia Stocks-Most rise on Sino-U.S. trade deal optimism
Source: TODAYonline - 🏆 1. / 99 Read more »