Will the FTSE 100 continue to break records?

Written 20 May 2018 22:42

Dow & FTSE markets for this week (FTSE:UKX)

This year, the Dow Jones experienced an “all time high” back in January. By an amazing co-incidence, the FTSE (UKX) matched this accomplishment and in the period since, has even raised the bar.

The Dow hasn’t. What does it all mean?

Regular readers will remember our 7,725 ambition for the FTSE, along with a suspicion the market could find it easy to better such a point, finding itself challenging prior highs.

Last week, it reached 7,791.4 points, virtually identical to January’s 7,792 point pinnacle.

Perhaps more importantly, the FTSE did actually close the session on the 17th at 7,789 points, an all time high closing price.

To us, this is quite a big deal, meaning now above 7,792 and we’ll anticipate 7,855 next with secondary, when bettered, at 7,990 points.

We’re not entirely sold on the concept of further growth – just yet – as a heck of a lot of punters will view the chart below, assume “double top”, collecting some profit in the process and doubtless allowing some sort of relaxation.

Balancing the threat of some negativity on the FTSE to 7,720 before we start raising eyebrows is the Dow Jones.

For some reason, Interactive Investor’s chart provider gives scaling which requires multiplied by three before it makes sense.

However, the reality is the index need only better 25,000 points to commence a cycle to 25,520 next. And if bettered, secondary comes in at 26,250 points.

Interestingly, this will give – as near as soddit – the Dow Jones its own double top, meaning near term reversal on the FTSE is liable to be short lived until such time the Dow matches its own prior highs. At this point, some proper

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Risk Appetite Boosted As US And China Call Ceasefire In Trade War

Here are the latest developments in global markets:

FOREX: The – which tracks the greenback’s performance against a basket of six major currencies – was 0.3% higher on Monday, touching a fresh high for 2018. Meanwhile, the safe-haven Japanese continued to lose ground, weighed on by signs that trade tensions between the US and China are easing. STOCKS: Wall Street closed lower on Friday, for the most part. While the and the declined by 0.26% and 0.38% respectively, the Jones closed practically unchanged. That said, risk sentiment looks to have recovered as futures tracking the , , and , are all currently pointing to a much higher open today, following comments over the weekend suggesting the US and China will put their trade war “on hold.” In Asia, Japan’s rose by 0.31%, but the edged down 0.08%. Meanwhile in Hong Kong, the climbed by 0.82%. In Europe, futures tracking the major indices were a sea of green, with the sole exception being Italy’s , which is expected to open lower. COMMODITIES: Oil prices were higher on Monday, buoyed by the broader pickup in risk sentiment following news the US and China trade war is “on hold.” and are both up by 0.8%. Signs that trade frictions are deescalating reduce the downside risks surrounding global economic growth and by extent, those surrounding global oil demand, thereby boosting prices. The precious liquid may have also received a helping hand by news Nicolas Maduro won another six years as Venezuela’s President. This increases the probability of fresh US sanctions on Venezuela, which may curtail even further the nation’s dwindling oil supply. In precious metals, was down by 0.6%, touching a new 2018 low of $1282. The safe-haven is being weighed down by a combination of diminishing risks on the trade front, as well

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Trade ceasefire; Ryanair profits jump; Italy in the spotlight

By Ivana Kottasová

LONDON (CNNMoney) — 1. China-US trade ceasefire: The world’s top two economies have agreed not impose new tariffs on one another while trade talks continue.

“We’re putting the trade war on hold,” US Treasury Secretary Steven Mnuchin told Fox News on Sunday.

After talks in Washington, China has agreed to “significantly increase” purchases of American goods and services to reduce its huge trade surplus with the United States.

But experts say the underlying issues that have fueled economic tensions between the two countries, including how China gets its hands on American technology, remain unresolved.

2. Ryanair’s soaring profit: Ryanair, Europe’s biggest low-cost airline, reported a 10% increase in annual profits on Monday. That’s despite having to cancel a large number of flights last year because of pilot strikes and scheduling problems.

However, the airline has warned it expects profits to fall this year because of higher staffing and fuel costs.

Ryanair stock dropped 1.1% in London after the open, but rebounded by mid-morning to trade up more than 1%.

3. Italy in the spotlight: The main Italian stock index in Milan was 1% lower early on Monday, the only major European market not in positive territory.

Investors were also dumping Italian government bonds, and the euro was down 0.3% against the dollar.

Concerns remain about the populist parties that are on the verge of forming a new government in the eurozone’s third biggest economy.

The party leaders are expected to meet the Italian president as soon as Monday to present him with the name of their nominee for prime minister.

4. Global market overview: US stock futures were pointing higher early on Monday.

European markets opened higher. The UK’s FTSE 100 reached a new all-time high, boosted by the pound’s recent decline against the dollar. The index is dominated

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Stock futures soar 200 points as tariff dispute “put on hold”

Will the stock market stay volatile?

IHT Wealth Management President Steve Dudash and Benchmark Investments managing partner Kevin Kelly discuss what’s holding the stock market back and how consumers are impacting the market.

U.S. stock futures gained after Treasury Secretary Steven Mnuchin said on Sunday that the United States and China had agreed put their tariff skirmishing “on hold” to work on a wider trade agreement.

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Dow Jones futures were poised for a triple-digit gain, rising 0.89%. The S&P 500 added 0.59% and the Nasdaq Composite was up 0.70%.

U.S. crude is up 0.43%, approaching $72 a barrel.

U.S. stocks posted weekly losses on concerns around global trade policies and interest rates limited investors’ appetite for risk.

In Friday’s session, the Dow Jones Industrial Average edged up 1.1 point, or less than 0.1%, to 24715.09. The S&P 500 declined 7.16 points, or 0.3%, to 2712.97 while the Nasdaq Composite lost 28.13 points, or 0.4%, to 7354.34.

Ticker Security Last Change %Chg I:DJI DOW JONES AVERAGES 24715.09 +1.11 +0.00% SP500 S&P 500 2712.97 -7.16 -0.26% I:COMP NASDAQ COMPOSITE INDEX 7354.3388 -28.13 -0.38%

For the week, the Dow industrials fell 0.5%, while the S&P 500 lost 0.5% and the Nasdaq shed 0.7%–snapping a two-week winning streak.

In Asia, China and Hong Kong stocks extended their rally on Monday,

China’s Shanghai Composite finished the day 0.6% higher.

Hong Kong’s Hang Seng  ended the day up 0.6%.

Japan’s Nikkei ended the day up 0.3% to close above 23,000 for the first time since February.

In Europe, London’s FTSE is up 0.72% to a new high. France’s CAC is rising by 0.60%. Germany’s DAX will be closed Monday for a holiday.

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Asian Shares Broadly Higher As Trade War Worries Ease

Asian stocks ended broadly higher on Monday after the U.S. and China agreed to put the trade war on hold and set up a framework for addressing trade imbalances in the future.

Chinese stocks rose after the U.S. and China made meaningful progress in two days of high-level talks. The benchmark Shanghai Composite index gained 20.54 points or 0.64 percent to finish at 3,213.84 while Hong Kong’s Hang Seng index ended up 0.6 percent at 31,234.35.

A weaker yen and solid trade balance data helped lift Japanese shares, with the Nikkei average closing up 72.01 points or 0.31 percent at 23, 002.37, extending gains for the third consecutive session. The broader Topix index closed marginally lower at 1 813.75.

Japan posted a merchandise trade surplus of 625.977 billion yen in April, the Ministry of Finance said – up 30.9 percent on year. The headline figure exceeded expectations for a surplus of 440.0 billion yen following the downwardly revised 797.0 billion yen surplus in March (originally 797.3 billion yen).

Exporters closed modestly lower despite the yen falling to more than a 4-month low of 111.37 against the greenback. Advantest lost 4.1 percent, Sompo Holdings fell as much as 6.9 percent and MS&AD Insurance Group shed 4 percent.

Australian shares ended little changed with a negative bias, dragged down by financials and material stocks. The benchmark S&P/ASX 200 and the broader All Ordinaries index both closed marginally lower at 6,084.50 and 6,190.20, respectively.

Banks followed their U.S. peers lower, with Commonwealth, NAB and Westpac ending down between 0.6 percent and 0.7 percent.

Mining heavyweights BHP Billiton and Rio Tinto dropped 0.4 percent and 0.9 percent, respectively amid declining iron ore prices.

Energy stocks surged higher, with Santos climbing 1.8 percent after it received an improved $US10.84 billion ($14.4 billion) offer from Harbour

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Sensex, Nifty To Open On Flat Note

Indian shares look set to open largely unchanged on Monday as investors digest the formation of a non-BJP government in Karnataka and fret about possible larger opposition unity in the 2019 that could spoil Prime Minister Narendra Modi’s bid for a second term.

Two days after he took oath as the 15th Chief Minister of the state, BS Yeddyurappa resigned from his post on Saturday and the governor invited the JDS-Congress combine to form the government.

The swearing-in ceremony will be held in Bengaluru’s sprawling Kanteerava stadium on Wednesday.

Besides the ongoing political developments in Karnataka, oil price movements, the direction of rupee and the latest batch of quarterly results may sway sentiment as the week progresses.

Brent crude oil prices moved toward the $80 a barrel mark last week, boosted by plummeting Venezuelan production, strong global demand and looming U.S. sanctions on Iran.

According to finance ministry estimates, rising crude oil prices may inflate India’s import bill by around $25 billion to $50 billion.

Bata India, Bosch, Cipla, Dr Reddys Lab, IndianOil, State Bank of India and Tata Motors are among the prominent companies that will unveil their quarterly earnings this week.

Benchmark indexes Sensex and the Nifty ended down about 2 percent last week as a slew of domestic and external factors curbed investors’ appetite for risk.

The rupee fell by 68 paise to close at 68.01 against the dollar last week amid persistent selling by foreign funds.

Asian stock markets are turning in a mixed performance this morning despite news that the U.S. and China have reached an agreement to set up a framework for addressing trade imbalances in the future.

The dollar edged up versus the yen on receding trade war fears while Brent crude futures were up slightly at $78.87 per barrel.

U.S stocks closed

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