Market focus is on China industrial production and retail sales
A statue of a bull is displayed outside the Shenzhen Stock Exchange in the southern Chinese city of Shenzhen. File Picture: REUTERS/BOBBY YIP
Economists polled by Reuters expect industrial production in China to have risen 5.5% in May from 5.4% in April and believe retail sales increased 8.1% from 7.2% the previous month. “Risk assets have been struggling for direction as competing themes battle to decide the tone of global risk sentiment,” wrote strategists at ANZ.
Wall Street shares have had a strong run in June on hopes the Federal Reserve will ease monetary policy soon to counter pressure on the US economy from the escalating trade war. The S&P 500 index is up about 5% so far for the month. “There is a large degree of uncertainty going into next week’s FOMC [Federal Reserve Open Committee] meeting as market reaction will differ significantly depending on whether the Fed hints toward easing policy,” said Shusuke Yamada, chief Japan forex and equity strategist at Bank Of America Merrill Lynch.In commodities, Brent crude futures edged up 0.2% to $61.43 per barrel after rallying 2.3% the previous day.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rand a little weaker as global sentiment coolsUS markets snapped a six-session winning streak and Asian markets were lower, as sentiment cools a little, weighing on the rand
Read more »
Banyana's Kgatlana can solve Chinese puzzle at #FIFAWWC | IOLThe player known as 'Pikinini' will be an ace up Banyana's sleeve, especially against China
Read more »
Chinese ambassador warns Britain over blocking HuaweiThe British National Security Council, in April, made a decision to block the Chinese tech giant from all core parts of the 5G network.
Read more »
Chinese steel mills chase low-grade ore as discount hits a lowSome buyers turn to low-grade product to fill blast furnaces amid price surge
Read more »
BUSINESS MAVERICK OP-ED: Call for government to open procurement data to public scrutinyPublic contracting is the meeting point of significant power and money and in most countries, these systems are characterised by convoluted, opaque planning. According to a recent report by the Open Contracting Partnership, up to 20% of state procurement budgets for infrastructure may be wasted. Opening procurement data will help support public participation and foster accountable governance.
Read more »
Philips upbeat as patients warm to sharing data with doctorsHealth technology company expects sales at its digital care business to grow in 2019
Read more »