Markets in Details: 25 June 2019

24 June, 2019

Market players are hesitant


Despite major market indices trading near all-time highs, a crisis is evidently on the horizon causing traders to remain muted and showing a lack of conviction ahead of several upcoming key events.

U.S. Federal Reserve Chairman Jerome Powell will deliver a speech on Tuesday and President Trump is expected to have a sideline discussion with President Xi from China at the G20 meeting later in the week.

The U.S. is reported to be working on placing what it calls major new sanctions on Iran to get it to change course on nuclear weapons development. While no details have been offered by the White House, oil traders have reacted by pushing the commodity higher. WTI rose nearly a percent to $57.86 during early Monday trading.

New business expectations


The Ifo Institute reported that Germany’s business morale slumped to its lowest level in nearly 5 years, showing a lack of optimism among business managers particularly with the U.S. adopting an America-first posture to trade negotiations.

Tech giant Apple has prompted their business suppliers to review implications of moving 15-30 percent of production capacity from China to alternative locations as part of its broad supply chain restructuring. This is the first time Apple has embarked on a manufacturing diversification of this scale. Countries being considered as part of this shift include Mexico, India, Vietnam, Indonesia, and Malaysia.


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