Bankcoin Reserve (BCR) joined by former UN Ambassador

Bankcoin Reserve (BCR) joined by former UN Ambassador – NASDAQ News Today – EIN News

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Losing Streak May End For China Stock Market

The China stock market has moved lower in three straight sessions, dropping more than 40 points or 1.3 percent along the way. The Shanghai Composite Index now rests just beneath the 3,075-point plateau although it may stop the bleeding on Friday.

The global forecast for the Asian markets is upbeat on solid economic data and continued momentum from the U.S./China trade deal. The European markets were mixed and the U.S. bourses were firmly higher and the Asian markets figure to split the difference.

The SCI finished modestly lower on Thursday following losses from the financial shares and oil and insurance companies, while the properties came in mixed.

For the day, the index sank 15.96 points or 0.52 percent to finish at 3,074.08 after trading between 3,070.88 and 3,096.37. The Shenzhen Composite Index dipped 2.64 points or 0.15 percent to end at 1,811.57.

Among the actives, Industrial and Commercial Bank of China skidded 1.36 percent, while Bank of China shed 0.54 percent, China Construction Bank lost 0.70 percent, China Merchants Bank slid 0.42 percent, China Life Insurance tumbled 2.53 percent, Ping An Insurance fell 0.30 percent, PetroChina dropped 0.64 percent, China Petroleum and Chemical (Sinopec) sank 0.38 percent, China Shenhua Energy eased 0.17 percent, Gemdale dipped 0.07 percent, Poly Developments was down 0.62 percent and China Vanke rose 0.13 percent.

The lead from Wall Street is strong as stocks moved sharply higher on Thursday, extending recent gains as the major averages hit fresh record closing highs.

The Dow jumped 262.42 points or 0.92 percent to 29,297.64, while the NASDAQ added 98.44 points or 1.06 percent to 9.357.13 and the S&P 500 rose 27.52 points or 0.84 percent to 3,316.81.

The markets continued to benefit from upward momentum following the official signing of the U.S.-China phase one trade deal on Wednesday.

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Dow Jones Industrial Average Rose as a China Trade Pact Looks Like a Done Deal – Barron's

The Dow Jones Industrial average closed higher on Monday. Illustration by Michael George Haddad

On the Go. The three main U.S. stock indexes closed higher on Monday as investors looked ahead to the signing of the preliminary U.S.-China trade deal on Wednesday. Corporate earnings for the fourth quarter will also start to roll in this week, led by major banks. U.S.-Iran tension remains in the air after Tehran said over the weekend that it shot down a Boeing 737 aircraft unintentionally due to “human error”. In today’s After the Bell, we…

speculate what terms will be reached in the 86-page U.S.-China deal; look forward to the latest earnings season; and wonder if stock valuations have become too lofty now.

Earnings Week Started

All three major indexes closed in the black on Monday. The Dow Jones Industrial Average gained 83.28 points, or 0.29%, to close at 28,907.05, The S&P 500 added 22.78 points, or 0.70%, to end at 3288.13, and the Nasdaq Composite rose 95.07 points, or 1.04%, to close at 9273.93.

The U.S. and China are set to sign a much-anticipated “phase one” trade deal on Wednesday. Besides the reduction of some existing tariffs and China’s commitment to buy more American farm products, full details of the 86-page deal haven’t been publicly disclosed. The Wall Street Journal reported that the two countries have agreed to semiannual talks to push for economic reform and resolve disputes.The U.S. Treasury Department will also drop its designation of China as a “currency manipulator,” which was imposed on the country last August.

The stock market has risen on optimism that the trade deal could lift corporate confidence and capital expenditures in both the U.S. and China.

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