Markets have oscillated back and forth this week, in an attempt to make sense which way trade negotiations are headed.
Tensions eased on Wednesday as China announced openness to a partial trade deal with Washington. The deal would entail an increase in agricultural goods imports from the US.
The trade talks in Washington start Thursday and are scheduled to last until Friday.
In Europe, despite facing tighter regulation, GVC was lifted by news that its Q3 gambling revenue increased 12%. Its share value increased Wednesday by 2.87% and so far, the bookmaker looks on track for its 3rd consecutive month of gains.
In a strategic decision to avoid trade war uncertainty, Fitbit announced its decision to search suppliers outside of China and registered a modest uptick in morning trading in the US.
In September Netflix marked its third consecutive monthly decline, sliding 27.45%. Starting this autumn, the company must compete with rivals which offer lower subscription plans.
Disney is set to launch a new streaming service mid-November, with a monthly cost of $6.99.
Apple will offer its clients a $4.99 monthly streaming subscription starting November 1.
Monness Crespi Hardt lowered its target price for the media giant shares from $440 to $340 and Netflix shares closed lower by -1.19%.
Despite being upgraded to ‘’buy’’ by Citigroup, Uber lost early Monday gains. The ride sharing giant lost -4.66% Monday through Wednesday.
While some companies stumbled, the broader markets sighed in relief. Compared to the trade war negotiations posturing coming on Monday from Washington and Beijing, investors seemed more optimistic about the prospects of a trade deal. US indices closed higher, Dow Jones +0.09% and S&P 500 +0.25%.
Eurostoxx 50 +0.72%, DAX +0.82% and FTSE 0.53% also edged higher by the end of the day, despite lingering Brexit uncertainty. In Asia, Hang Seng was up by 0.33% and Nikkei 225 advanced by 0.39%.
Sources: investing.com, marketwatch.com,
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