FTSE Futures Morning Update on 02 August 2019

The FTSE 100 Futures is trading at 7,401.00 with a loss of -1.48% percent or -111.50 point. The CAC 40 Futures is trading at 5,414.51   with a loss of -2.57% percent or -142.90 point. The DAX Futures is trading at 12,004.50 with a loss of -0.36% percent or -43.80 point. The EURO Stoxx 50 Futures trading at 3,418.00  with a loss of -0.41% percent or -14.00 point.

TODAY’S FACTORS AND EVENTS

Stocks are set for a sharply lower start to the trading day after the US President announced that in September the US would start to impose a 10.0% tariff on the remaining $300.0bn-worth of Chinese exports that were not yet subject to trade levies.

The news saw Wall Street’s main market gauges finish the session down by nearly one percentage point having earlier risen by nearly the same amount.

Donald Trump later added that the new tariffs would be implemented in phases and that as talks progressed they could be either raised or lowered.

It was a similar story in commodity markets, which deepened their losses, save for gold futures, which quickly reversed course to head higher.

Commenting on Donald Trump’s decision, CMC Markets UK’s Michael Hewson said:”Anyone trying to determine the next move in stock markets in the last 24 hours would be justified in feeling like they’ve just experienced a bit of whiplash.

PREVIOUS DAY ACTIVITY

For the day the FTSE 100 closed at 7,484.72 with a loss of -1.32% percent or -100.15 point. France’s CAC  40 closed at 5,425.95  with a loss of -2.37% percent or -131.46 point.Germany’s DAX closed at 11,975.50 with a loss of -2.14% percent or -269.44  point.

WORLD MARKETS

For the day the Dow is trading at 26,583.42  with a loss of -1.05% percent or -280.85 point. The S&P 500 is trading at 2,953.56 with a loss of -0.90% percent or -26.82 point. The Nasdaq Composite is trading at 8,111.12 with a loss of -0.79% percent or -64.30 point.

In other parts of world, Japan’s Nikkei 225 is trading at 21,087.16 with a loss of -2.11% percent or -453.83 point. Hong Kong’s Hang Seng is trading at 26,896.07  with a loss of -2.43% percent or -669.63 point. China’s Shanghai Composite is trading at 2,867.84  with a loss of -1.41%percent or -40.93 point. India’s BSE Sensex is trading at 36,853.43  with a loss of -0.47% percent or -172.46 point at 12:15 PM.

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