US markets were in the red this morning as onlookers wait on a deal between the US and China. The Dow Jones Industrial Average (DJIA), Nasdaq 100 and S&P 500 were all lower in the early hours of this morning as President Trump stated a deal “could happen fairly soon, or it might not happen at all.”
European markets also traded lower this morning on the back of President Trump’s statement. It appears the ongoing talks between the world’s largest economies are heading in the right direction however yesterday’s optimism has diminished as market participants seek clarity. The CAC, DAX, EU Stoxx and FTSE were all in the red.
Looking at individual stocks, Travis Perkins (LON: TPK) share price rose almost 8% as the home improvement retailer’s pre-tax profit exceeded expectations. In other news, oil prices fell this morning as President Trump called on OPEC to slow down its efforts and keep prices stable; WTI and Brent Futures were both lower.
The pound strengthened this morning, GBPUSD hit a high of 1.3162 at 09:43am GMT on the back of a report from Bloomberg suggesting that U.K. Prime Minister Theresa May was contemplating delaying Brexit. Investors will be keeping a keen eye on the pound due to the uncertainty surrounding Brexit. The leader of the opposition Labour Party yesterday suggested they would support calls for a second referendum if their alternative withdrawal proposal is declined by Parliament.
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