U.S. shares lifted by tech and energy; trade woes hurt emerging markets
A broad index of world stock markets posted gains for a second straight day on Tuesday, as investors piled into U.S. technology and energy stocks even as a trade war loomed. MSCI’s index of global equities gained 0.17 percent as investors awaited action from U.S. President Donald Trump after a deadline for public comment on additional tariffs on Chinese goods expired. Wall Street continued its rally, with the benchmark S&P 500 stock index still on pace to deliver what once seemed improbable: a seventh year of double-digit percentage gains over the last decade. Read More @ https://www.reuters.com/article/us-global-markets/u-s-shares-lifted-by-tech-and-energy-trade-woes-hurt-emerging-markets-idUSKCN1LR018?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29
Stock market closes higher as energy, telecom sectors lead
U.S. stocks shrugged off a wobbly start to close higher Tuesday, with the Dow climbing by triple digits, as energy and telecommunications rallied. However, trade worries were simmering below the surface as investors continued to watch the situation between the U.S. and China
How did major benchmarks fare?
The Dow Jones Industrial Average DJIA, +0.44% climbed 113.99 points, or 0.4%, to end at 25,971.06 after two consecutive losing sessions. The S&P 500 SPX, +0.37% added 10.76 points, or 0.4%, to finish at 2,887.89 and the tech-laden Nasdaq Composite Index COMP, +0.61% advanced 48.31 points, or 0.6%, to 7,972.47. The Nasdaq and S&P broke a four-day losing streak on Monday. Read More @ https://www.marketwatch.com/story/us-stock-futures-stumble-as-investors-turn-cautious-amid-september-blues-2018-09-11?siteid=rss&rss=1
Beijing is holding firm, but many Chinese firms acknowledge they’re worried about the trade war
- Beijing has maintained a resolute stance in the face of U.S. tariff threats, but many Chinese companies are acknowledging that their businesses could be hit by the ongoing trade war.
- Industrial and Commercial Bank of China, or ICBC, said late last month that a primary challenge the bank faces is increased instability and uncertainty in the international environment and intensifying global financial market volatility, especially since rising U.S.-China economic tensions may negatively affect many sectors.
- Still, many companies did not mention risks from rising trade tensions, or noted the impact to their business would likely be minimal. Read More @ https://www.cnbc.com/2018/09/12/us-china-trade-war-many-chinese-firms-acknowledge-business-worries.html
WHAT IS PSEi TECHNICAL CHART SAYING?
Technical clearly shows a break and traders should be cautious till the price recovers.
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