After Friday's trade uncertainty following the report that the United States was considering delisting Chinese companies from U.S. stock exchanges and lowering American exposure to Chinese assets in government pensions funds, Monday saw a better trading day after the U.S. Treasury Department refuted the report, writing that the Trump Administration, "is not contemplating blocking Chinese companies from listing shares on U.S. stock exchanges at his time."
Here's how the U.S. Stock Market closed today:
S&P 500 Index (SPY): +0.50% or 14.95 points
Dow Jones Industrial Average (DIA): +0.36% of 96.58 points
NASDAQ Composite Index (QQQ): +0.75% or 59.71 points
Monday marks the final trading session in what feels like a very active September. The month's end brings a close to the third quarter of the calendar year. This quarter has seen the implementation of the trade tariffs between China and the U.S. as well has new monetary policies from the Federal Reserve. Oil prices were heavily affected by the outside factor of attack and House Democrats have opened an impeachment inquiry into President Donald Trump. Though there was much political involvement and volatility throughout September, the month saw notable growth.
Some U.S. sectors have grown through the month, with notable growth shown in the S&P 500 Financials sector, showing a growth of +4.76%. Other sectors that saw gains were Technology with an increase of +1.51%, Energy with a jump of +3.71%, Consumer Discretionary with a rise of +0.73%, and Real Estate with a climb of +0.62%.
As the month ends, it seems that the markets have settled surrounding oil, whose price saw the largest highs and lows of the month following the Saudi Arabia attacks.
Moving forward to October, U.S. and China plan to have high-level trade discussions in the middle of the month, which hopefully will establish more agreements than tariffs. Brexit is also scheduled happen at the end of the month whether Parliament votes on a deal or not. U.S. Congress will also be progressing with impeachment. It seems that the final fiscal quarter of 2019 will remain interesting.
- https://www.bloomberg.com/news/articles/2019-09-28/u-s-treasury-says-no-current-plans-to-block-chinese-listings cmpid=BBD093019_MKT&utm_medium=email&utm_source=newsletter&utm_term=190930&utm_campaign=markets
- https://twitter.com/TreasurySpox/status/1178065230838075392
- https://www.bloomberg.com/news/articles/2019-09-27/white-house-weighs-limits-on-u-s-portfolio-flows-into-china-k12ahk4g