China's GDP slips, stocks in Asia still finish ahead

SYDNEY, Australia – Stock markets in Asia finished in the black on Friday, despite the release of economic data in Beijing showing China’s economy last year grew at it’s lowest level in three decades.

Growth slowed to 6.1% in 2019, nearly 10% lower than the previous year which recorded growth at 6.60%.

It was the lowest level of GDP growth since 1990.

The punishing trade war with the United States has been blamed for the build-up in the slide over the past eighteen months. The ramifications of the ructions are still to be felt in the year ahead, as the trade differences between the two countries have only been partly addressed.

“We expect China’s growth rate will come further down to below 6%” in the coming year, Masaaki Kanno, chief economist at Sony Financial Holdings in Tokyo told the Reuters Thomson news agency on Friday.

“The Chinese economy is unlikely to fall abruptly because of … government policies, but at the same time the trend of a further slowdown of the economy will remain unchanged,” Kanno said.

At the close of trading Friday, China’s Shanghai Composite finished flat, rising just 1.41 points or 0.05% to 3,075.54.

Elsewhere in the region, in Japan the Nikkei 225 gained 108.13 points o r0.45% to 24,041.26.

The Australian All Ordinaries rose 21.70 points or 0.30% to 7,180.30.

In Hong Kong, the Hang Seng jumped 173.36 points or 0.60% to 29,056.42.

On foreign exchnage markets, ther commodity currencies shrugged off the data out of China. The Canadian dollar strengthened to 1.3035.

The Australian dollar rose to 0.6907, while across the Tasman, the New Zealand dollar was higher at 0.6647.

The euro was little changed at 1.1131. The British pound climbed to 1.3083.

Th Japanese yen was little changed at 110.23. The Swioss franc dipped to

Read More Here...

China's GDP slips, stocks in Asia still finish ahead

SYDNEY, Australia – Stock markets in Asia finished in the black on Friday, despite the release of economic data in Beijing showing China’s economy last year grew at it’s lowest level in three decades.

Growth slowed to 6.1% in 2019, nearly 10% lower than the previous year which recorded growth at 6.60%.

It was the lowest level of GDP growth since 1990.

The punishing trade war with the United States has been blamed for the build-up in the slide over the past eighteen months. The ramifications of the ructions are still to be felt in the year ahead, as the trade differences between the two countries have only been partly addressed.

“We expect China’s growth rate will come further down to below 6%” in the coming year, Masaaki Kanno, chief economist at Sony Financial Holdings in Tokyo told the Reuters Thomson news agency on Friday.

“The Chinese economy is unlikely to fall abruptly because of … government policies, but at the same time the trend of a further slowdown of the economy will remain unchanged,” Kanno said.

At the close of trading Friday, China’s Shanghai Composite finished flat, eising just 1.41 points or 0.05% to 3,075.54.

Elsewhere in the region, in Japan the Nikkei 225 gained 108.13 points o r0.45% to 24,041.26.

The Australian All Ordinaries rose 21.70 points or 0.30% to 7,180.30.

In Hong Kong, the Hang Seng jumped 173.36 points or 0.60% to 29,056.42.

On foreign exchnage markets, ther commodity currencies shrugged off the data out of China. The Canadian dollar strengthened to 1.3035.

The Australian dollar rose to 0.6907, while across the Tasman, the New Zealand dollar was higher at 0.6647.

The euro was little changed at 1.1131. The British pound climbed to 1.3083.

Th Japanese yen was little changed at 110.23. The Swioss franc dipped to

Read More Here...

Baker Hughes Recognized As The First Golf Sponsor For The Oilfield Water Markets 2020 Conference

Baker Hughes Recognized As The First Golf Sponsor For The Oilfield Water Markets 2020 Conference – NASDAQ News Today – EIN News

Trusted News Since 1995

A service for global professionals · Friday, January 17, 2020 · 507,449,930 Articles · 3+ Million Readers News Monitoring and Press Release Distribution Tools News Topics Newsletters Press Releases Events & Conferences RSS Feeds Other Services Questions?

Read More Here...

Dow futures rise, stocks will aim to cap a record-setting week with a flourish higher

U.S. stock futures headed higher Friday morning, setting the three main equity gauges up for new records in just the third week of the year, after data showed China’s economic growth picked up in December, though annual growth was the weakest in about three decades.

Gains have been mostly aided by an apparent detente between China and the U.S. and corporate quarterly results which have helped to extend the view that the U.S. will avoid a recession in 2020.

How are benchmarks faring?

Futures for the Dow Jones Industrial Average YMH20, +0.38% gained 74 points, or 0.2%, at 29,311, while those for the S&P 500 index ESH20, +0.36% rose 8.35 points, or 0.3%, at 3,324.75, while Nasdaq-100 futures NQH20, +0.50% advanced 34.50 points, or 0.4%, to 9,168.

On Thursday, the Dow DJIA, +0.92% gained 267.42 points, or 0.92%, to 29,297.64, the S&P 500 SPX, +0.84% advanced 27.52 points, or 0.84%, to 3,316.81, while Nasdaq Composite Index COMP, +1.06% added 98.44 points, or 1.06%, to 9,357.13.

For the week, as of Thursday’s close of trade, the Dow and S&P 500 are on pace for their second straight weekly gain. The blue-chip gauge is up 1.6% for the week, on pace for its best weekly advance since Aug. 30. The S&P 500 is headed for a 1.8% gain for the week, which would mark its best return since the week ended Sept. 6. Meanwhile, the Nasdaq is on track for a 1.9% return for the week, which would mark its best return since the period ended Dec. 20 and its sixth weekly gain in a row.

What’s driving the market?

Wall Street is in rally mode, undeterred by China reporting its worst annual growth in three decades of 6.1%. To be sure, the reading was in line with economists’ consensus expectations and

Read More Here...

Stocks – Wall Street to Continue Higher; Housing Data Eyed

© Reuters.

By Peter Nurse

Investing.com – U.S. stock markets are set to open higher Friday, with investors reveling in a combination of healthy corporate earnings, diminished external growth risks and healthy domestic economic data.

Futures for the were trading 8 points, or 0.3%, higher by 11:55 AM ET (11:55 GMT), futures for the were 34 points, or 0.4%, higher, while the futures contract was up 80 points, or 0.3%.

On Thursday, the rose 0.8%, the rose 1.1% and the surged 0.9%. All three major averages ended the day in record territory, while a total of 64 S&P 500 components hit all-time highs.

The threat of a trade war between the globe’s two largest economic powers has been lessened with the signing of the Sino-U.S. deal and the latest Chinese growth data suggest its slowdown may have come to an end. Thus investors have turned their attention to more domestic matters.

The earnings season has been pretty healthy so far, although it’s been the banking sector which has mainly reported. Additionally, Wednesday’s retail sales suggested the U.S. consumer remains buoyant.

Focus will now turn to Friday’s batch of economic data releases.

The housing market will kick things off, with the December measure of and due at 8:30 AM ET (13:30 GMT).

At 9:15 AM ET, the Fed will release December figures on and , and the University of Michigan will report its preliminary measure of January at 10:00 AM ET (15:00 GMT). At the same time the Labor Department issues its November numbers.

There’ll also be speeches from Philly Fed President Patrick Harker at 9 AM and banking supervision head Randal Quarles at 12:45 PM.

Financial earnings keep on arriving, with State Street (NYSE:) hoping to continue the strong numbers the majority of the banks have reported. Elsewhere, energy

Read More Here...

Stock Market Feels Like Summer, Looks Like Winter

The juxtaposition of snow today seems incongruous compared to the hot stock market.

The east coast USA, and in the last couple of days the southwest, have had unseasonably warm days.

The warmer days along with the climbing market felt right.

However today, with another round of new all-time highs, when I stepped outside to snap the photo, I got a chill.

Is there a metaphor here between the wintry weather reminder and the overly complacent bulls in the market?

Last night, the Regional Banks KRE stood as a potential icy tale.

It had failed the 50-DMA for the first time in months. However, we always note that, the phase change needs two days to confirm.

I further stated that, …”unless KRE can close back above 57.05, it probably means it’s selling time again.”

Today, KRE climbed back over the 50-DMA for a now unconfirmed return to a bullish phase.

Again, we need a second day to confirm, which makes Friday key for that sector and quite possibly for the entire market.

If KRE closes confirmed bullish, despite the wintry chill, you keep your Hawaiian shirts on.

A close below 57.08, and bulls should pull out their down coats.

S&P 500 (SPY (NYSE:)) Another new all-time high. 326 support

(IWM) Made a new January high and now 166 pivotal

(DIA) Made a new all-time high. 288.57 the level to hold

Nasdaq (QQQ) Made a new all-time high and now 218.32 support to hold

KRE (Regional Banks) 57.08 pivotal

SMH (Semiconductors) 143.50 super pivotal Friday

IYT (Transportation) 200 support and reached our first target. If clears 204 could see move to 208

IBB (Biotechnology) 120.25 support

XRT (Retail) 45.50-46.00 pivotal

Volatility Index (VXX) Threw this one in today as a bonus-broke the January seasonal low and then closed back

Read More Here...