US Pre Market Open: So China sneezed – will America catch a cold?

Market News & Blog /
23 Oct 2018

The week may have started with bumper gains for Chinese markets as Beijing promised tax breaks in a bid to boost consumer spending, but there was early scepticism that the stimulus measures weren’t going to be sufficient and this seems to be playing out right now. The Shanghai composite has given back around half of Monday’s gains, whilst the picture in Hong Kong has been even more pronounced, leaving Europe to start on the back foot and pressuring US index futures, too.

With a slew of corporate earnings due from the US this week – including Caterpillar, Verizon and Jet Blue today – more upbeat news here may be sufficient to draw a line under this latest leg lower for the market. However, the reality remains that global economies are slowing and the protectionist actions of some operators are doing little to reverse this trend. Economic data remains thin on the ground in the short term, putting added focus on the need for corporate news to impress.

Ahead of the open we’re calling the DOW down 242 at 25075 and the S&P down 27 at 2729

The information provided here has been produced by third parties and does not reflect the opinion of AxiTrader. AxiTrader has reproduced the information without alteration or verification and does not represent that this material is accurate, current, or complete and it should not be relied upon as such. The Information is not to be construed as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product, or instrument; or to participate in any trading strategy. Readers should seek their own advice. Reproduction or redistribution of this information is not permitted.

More on this topic

See More News

Open your account. Apply in minutes.

Start your trading journey with a trusted, regulated, multi-award winning broker.

Open Account Try a Free Demo