Most Recent Events in Markets: A Summary for Every Trader – 13.02.2019

01:53, 13 February 2019

U.S. Treasury Secretary Steven Mnuchin Hopes for "Productive" Trade Meetings in China this Week

Image: Trader reading news about global markets.

U.S. Market - U.S. Treasury Secretary Steven Mnuchin Hopes for "Productive" Trade Meetings in China this Week


California Governor Gavin Newsom said on Tuesday he would scale back massive water and rail projects pushed by his predecessor and has assembled a team of lawyers to protect wildfire victims and ratepayers as utility PG&E enters bankruptcy proceedings.

Ford Motor (NYSE:F) Co told British Prime Minister Theresa May that it’s setting up preparations to move production out of Britain. The automaker informed the prime minister during a private call with business leaders that it is preparing alternative sites abroad, The Times reported on Tuesday.

General Electric (NYSE:GE) Co booked the most orders for electricity-generating gas turbines in 2018 but fell to second place for the largest and most advanced machines, behind Mitsubishi Hitachi PowerSystems, according to a report made by Reuters. 

A group of eight Democratic U.S. senators and independent Senator Bernie Sanders urged the Justice Department and Federal Communications Commission on Tuesday to reject a proposed $26 billion merger of T-Mobile US Inc and Sprint Corp.

U.S. Treasury Secretary Steven Mnuchin said on Wednesday he hopes for "productive" trade meetings in China this week, as the two countries seek to hammer out an agreement amid a festering dispute that has seen both level tariffs at each other.

European Market – Britain’s Economy Affected by the Brexit Impasse


 


Image: The Brexit deal is surrounded by concern.

Britain's economy will barely grow in the run-up to Brexit amid concern the UK will leave the European Union without an agreement, but if there is a deal there will be a modest post-divorce upturn, according to economists polled by Reuters. 

The same economists mostly said a free-trade deal between the two will be made and expectations that Britain will leave on March 29 without an agreement have barely changed over the past month.

Asian Market – Stocks Pull Ahead and Safe-haven Government Bonds Are Under Pressure


Asian stocks pulled ahead, and safe-haven government bonds came under further pressure on Wednesday on optimism the United States and China might be able to hammer out a deal to resolve their nearly year-long trade dispute.

"We are currently seeing negative sentiment which had built up over trade concerns and U.S. fiscal issues being unwound," said Soichiro Monji, senior economist at Daiwa SB Investments in Tokyo.

Sources: Bloomberg.com, Investing.com and Reuters.com.


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