Menu Close

World Stock Markets Mixed; Geopolitics In Focus

This is a syndicated repost published with the permission of Money Morning. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

(Kitco News) – Global stock markets were mixed overnight. U.S. stock indexes are pointed toward firmer openings when the New York day session begins.

Gold prices are slightly lower in pre-U.S.-session trading after scoring a six-week high overnight. The gold bulls still have good upside near-term technical momentum, amid a steep price uptrend in place on the daily bar chart.

The weekend news that North Korea launched another ballistic test missile, which experts say could now reach well into the U.S. mainland, is not having a major impact on world markets. However, this matter could well be the next geopolitical flashpoint, as the U.S. says it will not allow North Korea to have such a capability.

Russia over the weekend announced it is expelling 750 U.S. diplomats in retaliation for U.S.-imposed sanctions on Russia. That news has no impact on markets, but underscores frayed relations between the two super powers.

In overnight news, there was a batch of economic data coming out of the Euro zone. The June jobless rate was 9.1% versus 9.2% in May. The consumer price index for July came in at up 1.3%, year-on-year, versus the same reading in June.

China’s manufacturing purchasing managers’ index (PMI) came in at 51.4 in July. Forecasts called for a reading of 51.6. A number above 50.0 suggests expansion in the sector.

The U.S. dollar index is firmer in early U.S. trading, on corrective bounce from recent selling pressure. The index hit a 13-month low last week.

Meantime, the other “outside market” sees Nymex crude oil futures slightly lower on mild profit taking after the market hit a two-month high just above

$50.00 a barrel overnight. Oil bulls still have upside technical momentum.

U.S. economic data due for release Monday includes the ISM Chicago business survey, pending home sales and the Texas manufacturing outlook survey. The key report of the week will be Friday’s U.S. jobs report for July from the Labor Department. The non-farm payrolls number of that report is expected to be up 180,000.

To get full access to all Money Morning content, click here

About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free. Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors.

Disclaimer: © 2017 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201.

The post World Stock Markets Mixed; Geopolitics In Focus appeared first on Money Morning – We Make Investing Profitable.

Join the conversation and have a little fun at Capitalstool.com. If you are a new visitor to the Stool, please register and join in! To post your observations and charts, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam filter.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

RSS
Follow by Email
LinkedIn
Share

Discover more from The Wall Street Examiner

Subscribe now to keep reading and get access to the full archive.

Continue reading