On Monday, the 22nd of July 2019, all three key indexes of Wall Street had nailed up gains at the beginning of a heavyweight earnings’ week, as investors’ optimism bucked up of potential progress on Sino-US trade talks.
Meanwhile, European bourses had winded down the day slightly higher at a relatively quiet trading season after harboring pointlessly between gains and losses, as investors had been looking forward to corporate earnings’ season and ECB comments later this week.
On Monday’s (July 22nd) intra-day trading, tech stocks lifted Wall St. higher and S&P 500 climbed towards its all-time record high after reveal of a South China Morning Post report that a team of US trade negotiators led by trade representative Robert Lighthizer and US Treasury’s Mnuchin would likely to take a trip to China as early as by next week to resume a face-to-face trade talk after US President Donald Trump had back off of his stance to incline 25 percent tariff on all Chinese imports worth of about $500 billion following a meeting with his Chinese counterpart Xi Jinping later last month over the sidelines of a G20 summit at the Japanese city of Osaka.
Nonetheless, adding that optimisms over trade talks might evaporate sooner-than-expected, Senior Vice President of Wedbush Securities in San Francisco, Stephen Massocca said, “I don’t give much credence to the (trade) news.
The chatter will continue, but we won’t see anything substantive this year”. Quoting statistics, on Monday’s (July 22nd) market wind down, trade-sensitive Dow remained flatlined and S&P 500 added 0.28 percent to leap forth towards 3,000 marks again, while leading the charges in Wall St., Nasdaq surged 0.71 percent.
Over the other side of the Atlantic, London’s FTSE 100 closed flatlined, Germany’s DAX added 0.24 percent and French CAC gained 0.26 percent, while Italy’s FTSE MIB soared 0.44 percent on easing political tensions.
Meanwhile, MSCI’s gauge of global indexes across the globe that keeps track of 49 stock exchanges added 0.05 percent, as a stack of stock indices across the world had treaded water on Monday’s (July 22nd) market amid rising caution among investors in context of growing uncertainties about the size of a US interest rate cut ahead.