The DAX Futures is trading at 12,344.20 with a loss of -0.43% percent or -53.30 point .The FTSE 100 Futures is trading at 7,423.00 with a loss of -0.24% percent or -18.00 point. The CAC 40 Futures is trading at 5,466.50 with a loss of -0.16% percent or -8.50 point . The EURO Stoxx 50 Futures is trading at 3,403.00 with a loss of -0.29% percent or -10.00 point.
TODAY’S FACTORS AND EVENTS
German and eurozone manufacturing PMIs were soft in September. The German indicator dropped sharply, from 56.1 to 53.7, missing the estimate of 55.7 points. This marked the weakest reading since August 2016. It was a similar story from eurozone manufacturing PMI, which fell from 54.6 to 53.3, the lowest level since October 2016.
It’s been a good week for the DAX, which has jumped 2.9 percent. Earlier on Friday, the DAX touched 12,458 points, a high for September. Clearly, risk appetite remains strong, despite the U.S and China exchanging another round of tariffs this week. On Monday, U.S President Trump announced 10% tariffs on some $200 billion worth of Chinese goods. China quickly responded, slapping 10% tariffs on $60 billion in US exports. These tit-for-tit tariffs have become a familiar script, only this time investors haven’t panicked and snapped up U.S dollars. Investors are somewhat relieved that the tariffs are just 10%, and China is taking measures to reduce the effect of the tariffs on its economy, including increasing stimulus and infrastructure spending. Global growth remains strong, despite the tariff spat. Although China has threatened to cancel upcoming trade talks with the U.S in protest of the recent tariff decision, investors are in an optimistic mood
PREVIOUS DAY ACTIVITY
For the day the Dow is trading at 26,743.50 up with +0.32% percent or +86.52 point. The S&P 500 is trading at 2,929.67 with a loss of -0.037% percent or ?1.08 point. The Nasdaq Composite is trading at 7,986.96 with a loss of -0.51% percent or -41.28 point.
In other parts of world, Japan’s Nikkei 225 is trading at 23,869.93 up with +0.82% percent or +195.00 point. Hong Kong’s Hang Seng is trading at 27,472.22 with a loss of – 1.72% percent or -481.36 point. China’s Shanghai Composite is trading at 2,797.48 up with +2.50% percent or +68.24 point. India’s BSE Sensex is trading at 36,307.48 with a loss of -1.45% percent or -534.12 point at 12:15 PM.