Morning Briefing: Markets jump post-Trump

Morning Briefing: Markets jump post-Trump

Morning Briefing: Markets jump post-Trump

Markets jump post-Trump

The markets are reacting Wednesday to President Trump’s speech to Congress but analysts say that the lack of any real surprises means no significant impact on the markets.

Attention has turned back to regional issues with Asian markets generally higher, although Seoul was closed for a public holiday.

Tokyo jumped on exporters’ gains from a weaker yen while Sydney has gained following Australian GDP figures which beat expectations in the fourth quarter at 2.4 per cent year-over-year. Chinese manufacturing producer prices rose by more than expected at 51.6.

European markets are also trending higher despite some weaker data on German employment and manufacturing in the Eurozone. There was also mixed data on the UK economy with mortgage lending and PMI lower.

Wall Street and Toronto are expected to open higher.

The Bank of Canada is announcing its interest rate decision and there is also manufacturing PMI data due. US data includes manufacturing, oil and gasoline inventories and the Fed’s Beige Book.

 

Latest

1 month ago

1 year ago

 

North America (previous session)

US Dow Jones

20,812.24 (-0.12 per cent)

+4.63 per cent

+23.40 per cent

TSX Composite

15,399.25 (-0.42 per cent)

-0.02 per cent

+18.62 per cent

 

Europe (at 5.00am ET)

UK FTSE

7,317.66 (+0.75 per cent)

+2.95 per cent

+18.93 per cent

German DAX

11,981.16 (+1.24 per cent)

+2.76 per cent

+23.30 per cent

 

Asia (at close)

China CSI 300

3,458.44 (+0.16 per cent)

+2.08 per cent

+18.01 per cent

Japan Nikkei

19,393.54 (+1.44 per cent)

+1.28 per cent

+20.57 per cent

 

Other Data (at 5.00am ET)

Oil (Brent)

Oil (WTI)

Gold

Can. Dollar

56.79

(+0.50 per cent)

54.23

(+0.41 per cent)

1245.30

(-0.69 per cent)

U$0.7505

 

Aus. Dollar

U$0.7667

Markets prepare for Snap IPO pricing

There will be an air of anticipation for the markets Wednesday as the price for the long-awaited Snap Inc. IPO is revealed.

The owner of social media and messaging platform Snapchat is expected to price its 200 million shares at between $14 and $16 dollars with the offer set to bring in around $3 billion when it goes live on the NYSE Thursday.

The valuation of the firm is expected to be in the range of $19.5 billion and $22.3 billion. Snap will price its shares following the closing bell on Wall Street.