Global shares slip ahead of US-China 'Phase 1' trade deal
AP

Global shares slip ahead of US-China 'Phase 1' trade deal

{{featured_button_text}}

TOKYO (AP) — Global stocks mostly edged lower on Tuesday as investors looked to the signing of a trade deal between the U.S. and China as well as upcoming corporate earnings reports.

France's CAC 40 was down 0.3% at 6,015, while Germany's DAX shed 0.2% to 13,429. while. Britain's FTSE 100 dropped 0.2% as well, to 7,599.

U.S. shares were set for a tepid start, with Dow futures almost unchanged and S&P 500 futures down 0.1%.

Market had risen on Monday, adding to gains from last week, over an easing in tension between the U.S. and Iran. Investors are now looking ahead to the signing of an initial trade deal between Washington and Beijing and the potential for future talks.

The world’s largest economies are expected to sign a so-called “Phase 1” trade agreement on Wednesday. It is seen as an opening to future negotiations that will deal with more complicated trade issues.

Japan's benchmark Nikkei 225 rose 0.7% to finish at 24,025.17, while Australia's S&P/ASX 200 added 0.9% to 6,962.20. South Korea's Kospi gained 0.4% to 2,238.88. Hong Kong's Hang Seng lost 0.2% to 28,885.14, while the Shanghai Composite edged 0.3% lower to 3,106.82.

Across markets, worries about a recession have faded since last year as central banks cut interest rates and pumped stimulus into the global economy. In addition, the promise of the trade deal between the U.S. and China has helped lift markets in recent weeks, easing investors’ concerns of further escalation in the costly conflict.

Full details of the trade pact are due to be released after the agreement is signed at the White House on Wednesday.

Wall Street will be releasing earnings reports later in the week and also have several economic reports to consider, including government reports on consumer prices, retails sales and home construction.

ENERGY: Benchmark crude oil picked up 32 cents to $58.40 a barrel in electronic trading on the New York Mercantile Exchange. It fell 96 cents to $58.08 a barrel on Monday. Brent crude oil, the international standard, gained 47 cents to $64.67 a barrel.

CURRENCIES: The dollar rose to 109.98 Japanese yen from 109.93 yen on Monday. The euro was down to $1.1128 from $1.1135.

Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

0
0
0
0
0

Be the first to know

* I understand and agree that registration on or use of this site constitutes agreement to its user agreement and privacy policy.

Related to this story

Most Popular

  • Updated

BERLIN (AP) — Six people were killed and another two wounded in a shooting in the southwestern German town of Rot am See on Friday, police said. The suspect's parents were among the dead and the other victims also were believed to be relatives.

  • Updated

BEIJING (AP) — A new viral illness being watched with a wary eye around the globe accelerated its spread in China with 80 deaths so far, while the U.S. Consulate in the city at the epicenter announced it will evacuate its personnel and some other Americans aboard a charter flight.

  • Updated

BEIJING (AP) — China's leader on Saturday called the accelerating spread of a new virus a grave situation, as cities from the outbreak's epicenter in central China to Hong Kong scrambled to contain an illness that has infected more than 1,200 people and killed 41.

Get up-to-the-minute news sent straight to your device.

Topics

News Alert

Breaking News