Morning Briefing: FBI sacking, oil supplies in focus

Morning Briefing: FBI sacking, oil supplies in focus

Morning Briefing: FBI sacking, oil supplies in focus FBI sacking, oil supplies in focus

Markets are digesting the sudden departure of FBI director James Comey together with fresh hope of an oil production cut Wednesday.

Comey’s sacking by President Trump is officially regarding his handling of Hilary Clinton’s email scandal but it’s being suggested by Democrats that there is a cover-up by the White House relating to links between Trump’s election campaign and Russia.
Any shaky ground in Washington rattles the markets and is set to cause more volatility as the story unfolds.

Meanwhile, oil gained 1 per cent overnight on news that a state-owned Saudi oil producer was cutting supplies to its customers in Asia next month. Hopes are higher for an OPEC supply cut to be extended.

Asian equities closed mostly higher despite mixed data from China. Seoul closed lower following the election of a new South Korean president, Moon Jae-in of the Democratic Party of Korea. Sydney was one of the best performers in the region as investors considered details in the federal budget.

European markets are flat ahead of a speech by ECB president Mario Draghi later. London is performing ahead of its peers.
Wall Street and Toronto are expected to open lower. US oil inventories data is due.
 

 

Latest

1 month ago

1 year ago

 

North America (previous session)

US Dow Jones

20,975.78 (+0.17 per cent)

+1.54 per cent

+17.00 per cent

TSX Composite

15,569.20 (-0.53 per cent)

-1.03 per cent

+13.02 per cent

 

Europe (at 5.00am ET)

UK FTSE

7,341.57 (-0.01 per cent)

-0.10 per cent

+19.25 per cent

German DAX

12,735.30 (-0.11 per cent)

+4.38 per cent

+26.78 per cent

 

Asia (at close)

China CSI 300

3,337.70 (-0.44 per cent)

-4.78 per cent

+8.75 per cent

Japan Nikkei

19,900.09 (+0.29 per cent)

+5.86 per cent

+20.13 per cent

 

Other Data (at 5.00am ET)

Oil (Brent)

Oil (WTI)

Gold

Can. Dollar

49.26

(+1.09 per cent)

46.45

(+1.24 per cent)

1222.90

(+0.56 per cent)

U$0.7303

 

Aus. Dollar

U$0.7371


US lawmakers want investigation into billionaire investor Icahn

Eight US senators have called for an investigation into billionaire investor Carl C. Icahn into whether he violated insider trading and market manipulation rules.

The New York Times says that the senators’ concern centres on Icahn’s role as a special adviser to Donald Trump and calls on the SEC and EPA to look into matters surrounding Icahn’s majority investment in oil refiner CVR Energy.

No wrongdoing has been proven and Icahn has not given The NY Times any comment.

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