US Futures indicators in the negative region and the focus on US China talks
2018-05-24 01:27 pm | Resource: NEWS | No Views : 110
After rising during the previous session, US stocks may return to the downward trend at the beginning of trading on Thursday. Where the futures of major US indexes are currently pointing to a decline in the markets, where the Dow Jones index futures fell by 56 points.
Continued trade concerns may affect markets following President Donald Trump's recent comments that downplayed the prospects for a trade deal with China.
In a comment on Twitter on Wednesday, Trump said: "Our trade deal with China is going well, but in the end we will have to use a different structure in that this will be very difficult to accomplish and verify the results after completion."
In addition to trade concerns, Trade Minister Wilbur Ross began investigating whether auto and spare parts imports threaten to weaken the national security of the United States.
"There is evidence that imports from abroad for decades have eroded the domestic auto industry," Ross said in a statement.
"The Ministry of Commerce will conduct a comprehensive, fair and transparent investigation into whether these imports weaken our domestic economy and may weaken national security," he said.
Continuing uncertainty over the planned meeting between Trump and North Korean leader Kim Jong-un may lead to some selling pressure.
North Korean Deputy Foreign Minister Choi Sun-ho raised the possibility of canceling the historic summit following what she called "ignorant and stupid" comments from Vice President Mike Pence.
"Whether the United States will meet us in a meeting room or encounter a nuclear confrontation depends entirely on the decision and behavior of the United States," Choi was quoted by the state-run Korean Central News Agency as saying.
"If the United States abuses our good faith and upholds illegal and outrageous acts, I will propose to our top leadership to reconsider the North Korea-US summit," he said.
Major European markets were also mixed across the day. While the French CAC 40 rose 0.1%, Germany's DAX fell 0.2% and the FTSE 100 in the UK dropped 0.4%.
In commodity trading, crude futures fell $ 0.87 to $ 70.97 a barrel after falling $ 0.36 to $ 71.84 a barrel on Wednesday. Meanwhile, the ounce of gold is trading at $ 1297.90, up $ 8.30 from the close of the previous session at $ 1289.60 on Wednesday, and gold fell $ 2.40.
On the currency front, the US dollar is trading at 109.65 yen, compared with 110.08 yen, which closed at the close of trading in New York on Wednesday. Against the euro, the dollar is trading at $ 1.1730 compared to $ 1.697 yesterday.
Time frame Used - four hours The NASDAQ 100 is moving in a sideway direction in the near term The bears managed to push the NASDAQ 100 index back to level of 7080 In view of the technical indicators Both the RSI and the Stochastic are indicating the arrival of indicators to the oversold area Based on this, we expect that the NASDAQ index will test levels of 7352 -…
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