Don961: The “Davos” summit arouses the interest of global markets
Wednesday, January 22, 2020 Capitals / Follow-up
The start of the “Davos” summit and the important talks that witnessed the interests of the global markets, as world leaders started the meetings of the “Davos” conference organized by the World Economic Forum.
In his speech in “Davos”, trade dominated the speech of US President Trump, noting that he “ran for the presidency of the United States in order to get rid of the debris left by previous presidents on trade issues.”
He stressed that “the United States is negotiating several trade deals,” noting the strength of the economy that has returned the American dream stronger and better.
Trump indicated that “Washington will soon start negotiating the second phase of the trade deal with Beijing.”
At a time when the US Treasury Secretary, while attending the Davos conference, stated that “the second stage of the commercial transaction may not drop all tariffs on China”.
On the sidelines of “Davos”, the US President also held trade talks, which he described as good with the President of the European Commission, but pointed out that if a deal with Europe was not reached, imposing tariffs on cars would be considered.
On the business front, Netflix has surpassed analysts ’earnings and earnings forecasts, with 8.7 million subscribers added.
IBM’s earnings and revenues also rose more than analysts’ estimates in the fourth quarter of 2019.
US stock indexes fell from record highs at the close of trading, as the Dow Jones lost 150 points.
Whereas, the decline in the primary resources sector pushed European stocks to decline at the close, coinciding with the start of the Davos Summit.
Economic data revealed that investor confidence in the German economy rose to the highest level since 2015, and the employment rate in the UK rose to a new record.
While Hong Kong stocks fell about 3 percent at the close, with concerns from the Chinese virus and the downgrade of credit rating by Moody’s. Japanese stock indices also fell, after the bank decided to install monetary policy.
In a separate context, foreign direct investment worldwide declined in 2019 with the retention of the United States Fore.
Oil and gold slipped
Oil prices fell at the settlement for the first time in 3 sessions, with concerns about supply disruptions in the Middle East diminished, and gold prices fell when the settlement anticipated political and trade developments and in conjunction with fears of a “Corona” virus outbreak, while today’s data revealed a decline in gold consumption in China About 12.9 percent for the first time in 3 years in 2019. LINK