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Morgans AM: Wednesday 23 May 2018

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Manage episode 206457225 series 1086780
Content provided by Morgans Financial Limited and Morgans Financial. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Morgans Financial Limited and Morgans Financial or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
US equity markets retreated and closed near their session lows as the afterglow from the China-US trade negotiations quickly faded, with President Trump saying he was "not satisfied" with the trade talks and saying they "have a long way to go" albeit he kept the door open for further negotiations. President Trump also said there was no deal to save Chinese telecom company ZTE Corp, but added he is reconsidering penalties on it since President Xi asked him “to look into that.” - Dow down -179-points or -0.72%, with Boeing Co (down -2.5%), Caterpillar Inc -1.7% and 3M Co -1.4% among the biggest index decliners. The broader S&P500 -0.31%, with The technology centric NASDAQ lost -0.21%. The small capitalisation Russell 2000 Index fell -0.7% after posting four consecutive record closing highs in-a-row. Separately, President Trump indicated that his planned 12 June summit with North Korea’s Kim Jong Un could be delayed also the Federal Reserve releases the minutes of its May monetary policy meeting tonight AEST along with the Markit flash manufacturing purchasing manager's indices (PMI) and April new home sales data
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3070 episodes

Artwork
iconShare
 
Manage episode 206457225 series 1086780
Content provided by Morgans Financial Limited and Morgans Financial. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Morgans Financial Limited and Morgans Financial or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
US equity markets retreated and closed near their session lows as the afterglow from the China-US trade negotiations quickly faded, with President Trump saying he was "not satisfied" with the trade talks and saying they "have a long way to go" albeit he kept the door open for further negotiations. President Trump also said there was no deal to save Chinese telecom company ZTE Corp, but added he is reconsidering penalties on it since President Xi asked him “to look into that.” - Dow down -179-points or -0.72%, with Boeing Co (down -2.5%), Caterpillar Inc -1.7% and 3M Co -1.4% among the biggest index decliners. The broader S&P500 -0.31%, with The technology centric NASDAQ lost -0.21%. The small capitalisation Russell 2000 Index fell -0.7% after posting four consecutive record closing highs in-a-row. Separately, President Trump indicated that his planned 12 June summit with North Korea’s Kim Jong Un could be delayed also the Federal Reserve releases the minutes of its May monetary policy meeting tonight AEST along with the Markit flash manufacturing purchasing manager's indices (PMI) and April new home sales data
  continue reading

3070 episodes

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