Indices

Stock indices extend their gains initially as the positive sentiment from the previous day carried forward into the early European trade. But at the time of writing, markets were coming off their best levels, possibly on the back of the Time Magazine’s interview with Donald Trump.

A day after we saw the unwinding of “Sell America” trade, index futures were back down as a rally in global equities lost momentum. Once again, optimism over a swift resolution to the US-China trade spat was dealt a blow.

The ASX 200 rally faces a wall of resistance, and given the declining volumes on the futures market I suspect a pullback could be. The Hang Seng rally meanwhile looks like it may have more to give, assuming it can break above the March low.

Over the past two trading sessions, the S&P 500 has gained more than 5%, with the price now holding steadily above the 5,300-point level. This renewed bullish bias in the index has been primarily driven by recent comments from President Trump, which point to a possible easing in trade tensions with China.

Trump can certainly talk the talk, but can he also walk the walk? Until he does that, we will remain cautious on our S&P 500 forecast.

Concerns about a deteriorating growth outlook amid trade war risks means the Nasdaq 100 forecast is remaining not so certain. Another choppy week could be ahead of us, as attention turn to more company earnings, with Tesla set to post its results after the close.

S&P 500 traders may soon turn their eyes toward the key psychological level at 5,000, followed by the post “Liberation Day” lows under 4900.

Concerns about a deteriorating growth outlook amid trade war risks means the S&P 500 outlook is remaining not so certain. Another choppy week could be ahead of us, as attention turn to more company earnings.

After a choppy week, global markets were showing signs of stabilisation first thing this morning, although at the time of writing global indices were coming off their best levels.

It has been another volatile session for markets, with European indices managing to turn flat to slightly firmer, and US index futures managing to claw back from earlier lows, having been rattled initially by a sharp Nvidia-led sell-off overnight

We’ve certainly seen calmer tone across the financial landscape ever since Trump delayed the reciprocal tariffs by 90 days and then followed it up by suspending of tariffs on consumer tech items – phones, computers, and the like – between the US and China.