FED chairman is very worried about the US dept
On Thursday Jerome Powell FED, Chairman announced that he is “very worried” concerning the increasing U.S. debt. He said that this problem is not resent and that they need to resolve it ultimately and that there is no other option. “It’s a long-run issue that we definitely need to face, and ultimately, will have no choice but to face,” he said. Traders are watching the Fed in order to catch any early clues that will help them to understand if it will be reducing interest rates
Now about Brexit, investors are focusing mainly on politics. U.K.’s withdrawal from the European Union is very near and investors need to find early indications before they move their investments to different assets.
Moreover, minutes from the last gathering of the European Central Bank showed that policymakers could soon consider new multi-year mortgages to banks.
Asia stocks looks good as investors got more positive
On Friday morning Asia equities rose due to positive investor sentiment after late profits in the US stock market. The Chinese markets were focusing their attention mainly on the continuing trade dispute between the US and China. The markets remained wary until the close of the morning trading session. Meanwhile, Hong Kong’s Hang Seng index increased by about 0.2% while the Shanghai composite grew about 0.10%. In another part of Asia, Japan’s Nikkei 225 climbed more than 0.7% in midday trade as the Topix index gained around 0.3%.
S&P 500 continues its winning streak
On Thursday Stocks advanced, but profits were stopped while concerns that the U.S. government closedown may last longer than expected also press on stocks. The Nasdaq Composite advanced 0.4% to 6,986.05.
The S&P 500 rose 0.4% to 2,596.63 registering five-day winning streak. The Dow Jones Industrial Average also noted a five-day winning streak, climbing 122.79. In the meantime, American Airlines dropped about 4.3% after cutting its income growth outlook for the fourth quarter.
Oil going down due to fears regarding economy
Oil slid on today due to fears about for world’s economy. However, because the resent output reductions that agreed by the main oil players gave support to crude and held exchanges for a great weekly rise.
U.S. West Texas Intermediate crude futures fell 7 cents, to $52.50 per barrel while the International Brent crude futures were at $61.55 per barrel that’s a drop about 13 cents. Hue Frame, a respectful portfolio manager said “If we experience an economic slowdown, crude will underperform due to its correlation to growth,”