Global Markets Move Higher, Geopolitical Risk Is Rising, Earnings Season Begins
/ of 30 sources
The U.S. Futures Are Up In Early Trading
The U.S. futures are up in early trading while trading wait on key geopolitical events. On the trade front, Chinese Vice Premier Liu He is expected to sign the Phase One Deal on Wednesday. The move is affirmed by Chinese media and U.S. spokespeople but does not end the trade war. A Phase Two negotiation is expected to begin sometime over the next year and may take many years to resolve. The Dow Jones Industrial Average and S&P 500 are both up about 0.35% in premarket trading, the NASDAQ is in the lead with an advance of 0.50%.
In other news, tensions between Iran and the U.S. continue to simmer. Iran admitted to accidentally shooting down a 737 last week killing more than 130 people. Protests against Iran’s government flared up in the wake of the news and threaten to further destabilize the region.
In stock news, this week marks the start of the peak earnings season for the calendar 4th quarter of 2019. The consensus outlook is the S&P 500 will produce -1.5% earnings growth but estimates tend to rise as the earnings cycle progresses. Shares of Tesla are moving higher in early action. The stock got another thumbs up from Oppenheimer analysts and a massive upgrade in price. Their target is now double the previous and a new Wall Street high.
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