Wall Street futures fall on trade war escalation
US markets closed higher on Friday, after positive job data and strong earnings reports lifted markets. However, over the weekend, President Trump tweeted he intends to more-than double tariffs on $200 billion worth of Chinese imports alongside imposing new tariffs on an additional $325 billion in goods. Sources told CNBC that Chinese representatives might cancel their planned visit to the US this week in response, jeopardizing the possibility of a trade deal between the two nations. Following these reports, US index futures fell, pointing to a weak opening today.
Today’s highlights: Cryptocurrency market shows correction
- Asian markets plunge on trade war fears: The recent exchange between the US and China weighed heavily on markets in Asia this morning. At the time of writing, the China50 index was down more than 5% and the HKG50 index was more than 3% lower. Banks in Japan are closed today in observance of a national holiday.
- Volatility expected for CAD: Bank of Canada Governor Stephen Poloz is scheduled to speak today at 18:00 GMT at an event co-hosted by the Canadian Credit Union Association and the Winnipeg Chamber of Commerce. 15 minutes earlier, Poloz’s speech will be released to the press. Poloz’s words could potentially impact the CAD and other key financial instruments in Canada.
Uber going public this week
In what is considered the most anticipated IPO of 2019 so far, ridesharing giant Uber will be going public this Thursday at a valuation of up to $100 billion. Soon after the IPO, the UBER stock will be available on eToro at the best available market price. Investors who wish to follow the stock, can already add it to their Watchlist on eToro. Please be aware that the first price on eToro might differ greatly from the IPO price.
Stocks earnings releases on 06/05/19
Stocks earnings releases on 07/05/19
Earnings season continues: To follow upcoming earnings reports, go to eToro’s Earnings Reports Calendar. Please note that maximum leverage for CFD stocks will be limited to X5 one day ahead of earnings report releases. X10 leverage will be available again soon after the report is published.
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