Market Headlines 5/9/2017

US

  • US markets were closed yesterday for the Labour Day holiday.
  • The S&P 500 rose 1.4% overall last week after gaining 0.2% on Friday. News surrounding the North Korea nuclear test over the weekend is likely to weigh on US stocks today.

 

Europe

  • European equities fell yesterday after a North Korea nuclear test on Sunday triggered a fresh round of geopolitical tensions.
  • The Euro Stoxx 50 Index declined 0.4% after gaining 0.6% last week.
  • Technology and Banking stocks were among the worst performers on the index yesterday falling 0.8% and 1% respectively.
  • The euro remained steady against the dollar yesterday rising above the $1.19 level. The European Central Bank will hold their latest monetary policy meeting on Thursday. Market reaction to the messaging after this meeting is likely to translate into some volatility in the currency.

 

Asia

  • Japanese shares declined for a second day falling 0.6% as the yen strengthened following the news of North Korea’s largest nuclear test to date.
  • In China, equities gained slightly despite a strengthening yuan.

 

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