Morning Briefing: Markets await President Trump

Morning Briefing: Markets await President Trump

Morning Briefing: Markets await President Trump Markets await President Trump
Investors remain cautious about taking risks as Donald Trump becomes US president.

Chinese GDP data, which showed a slower-than-hoped pace, was further tinged with fears that Trump’s rhetoric will become policies which may dampen global growth. Shanghai ended the session higher though along with Tokyo, while other major Asian bourses lost ground.

European markets are broadly flat with Trump in focus along with still-weak inflation in the Eurozone highlighted by the central bank’s outlook in the previous session.

Wall Street and Toronto are expected to open flat. Canadian consumer price and retail sales data are due.
 
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North America (previous session)
US Dow Jones 19,732.40 (-0.37 per cent) -0.76 per cent +23.20 per cent
TSX Composite 15,409.81 (+0.08 per cent) +0.76 per cent +30.12 per cent
 
Europe (at 5.00am ET)
UK FTSE 7,209.90 (+0.02 per cent) +2.36 per cent +27.08 per cent
German DAX 11,603.59 (+0.06 per cent) +1.21 per cent +23.55 per cent
 
Asia (at close)
China CSI 300 3,354.89 (+0.77 per cent) +1.38 per cent +5.69 per cent
Japan Nikkei 19,137.91 (+0.34 per cent) -1.83 per cent +16.58 per cent
 
Other Data (at 5.00am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
54.77
(+1.13 per cent)
51.95
(+1.13 per cent)
1199.50
(-0.17 per cent)
U$0.7491
 
Aus. Dollar
U$0.7521

 
Billionaire investor Soros says “would be dictator” Trump will fail
As the new president is about to be inaugurated, billionaire investor George Soros says Donald Trump’s ideas are “inherently self-contradictory” and he expects the new president to fail.

Speaking to Bloomberg, Soros said that Trump – who he has called a “would be dictator” – would not be successful with some of his policies as the Constitution and institutions of the US are “strong enough” to defeat them.

Soros, who supported Hilary Clinton’s campaign with a $10.5 million donation, expects the post-election rally to reverse over the longer term as uncertainty over policy raises concern.
 

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