It was another week of mixed trade messages. Global equity markets started the week on a positive note amid optimism that the first phase of a US/China trade deal would shortly be agreed after China said it would tighten intellectual property rules (this is what the US has been pushing for).
US/China trade talks continued to dominate global equity market sentiment. The week started positively after it was signalled that the US and China were edging towards an initial trade agreement (phase 1), following constructive discussions between China’s Vice-Premier Liu He, US Trade Representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin.
Positive news flow from US-China trade talks resulted in another positive week for global equity markets.
This week, central banks and politicians delivered few surprises allowing global equity markets to take direction from economic data and corporate results.
Global equities ended the week higher thanks to better than expected corporate results which highlighted that companies are weathering the slowing economic growth and trade dispute.
It felt like this day would never come, but Brexit may finally be here! However, everything depends on the outcome of tomorrow’s (Saturday 19 October 2019) Parliamentary session when MPs vote on the deal.
Sentiment going into this week’s US/China trade talks was negative after the US placed eight Chinese technology companies on a US blacklist and China stopped NBA (basketball) broadcasts.
Global equity markets declined at the start of the week after US ISM manufacturing PMI came in at 47.8 in September.
While it has been an interesting week watching the latest political turmoil unfold in both the UK and US, it should be noted that this is just a sideshow as the main driver for markets is still the US/China trade talks (as this impacts global economic growth and corporate profitability).
Christmas is an expensive time of year as the cost of presents, decorations, meals out and entertaining all add up. Individuals intend to spend £567 each at Christmas, with 46% planning to pay for it using credit cards, store cards and overdrafts.
19th November 2019
The FCA has released new data showing the actions that individuals have taken the first time they access a pension pot.
7th November 2019
The FCA’s new rules on pension ‘wake up packs’ - the information that an individual receives from their pension provider before accessing their pension fund, comes into effect on the 1 November.
28th October 2019
