US-China trade uncertainty looms

Analisi Giornaliera - 15/11/2019

Gold falls as risk appetite increased over trade war fears


On Friday Gold declined while the risk desire was increased even after the positive comments from Larry Kudlow White House economic adviser that the United States is close to an introductory trade agreement with China. US gold futures fell 0.5% to $1,466.29 an ounce. Spot gold decreased by 0.4% to $1,465.76 per ounce although it was still set for an increase of near 0.5% this week. Asian stocks surged, depressing bullion’s safe-haven demand, following a record S&P 500 close, while optimism fell that the world’s top two economies were nearing a phase 1 agreement.

S&P 500 went higher

On Thursday the S&P 500 went higher to a record ending, although continuing concerns about US-China trade relationships and drops in Walmart and Cisco softened the activity around Wall Street. Cisco Systems fell more than 7% while Walmart fell 0.3% after hitting an all-time top.

The general index ended just 0.1% higher at 3,096.62 while real estate exceeded. The Dow Jones Industrial Average ended marginally lower at 27,781.95 while the Nasdaq Composite dropped 0.04% to 8,479.01.


Oil gains on anticipations of OPEC cuts

On Friday Oil grew while OPEC’s viewpoint for oil requests for 2020 fed expectations that the producer group and its partners will maintain a lid on stock when they gather to review the policy on production next month. West Texas Intermediate crude advanced 28 cents to $57.04 a barrel, after dropping 0.6% in the previous session. Brent crude futures gained 28 cents reaching $62.55 a barrel having lost 9 cents yesterday.


Expert expects Tesla to lose 40% of its stock value

On Thursday Credit Suisse recorded and stated that the famous electric car maker Tesla has approximately an 80% cut of the U.S. market for electric vehicles. Furthermore, the firm foresees that Tesla's “unique position” with its Model 3 will experience severe difficulty from another giant automaker – Ford in 2020. Dan Levy an analyst in Credit Suisse in a note address to investors wrote “For all the competition entering the market, we are still awaiting the EV that will be a true competitive threat to Model 3 – especially in the US,” “Tesla has a window of opportunity now with a clear competitive lead.”


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