Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
Cancel Confirm
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Confirm
Octa trading broker Sign up Log in
Octa trading broker
Open trading account
Trading news
Back
30 Dec 2019

Wall Street close: Benchmarks retreat from record highs, despite news of potential signing ceremony

  • The S&P 500 was down 0.6% to end around 3,221.
  • The DJIA shed 183 points, or 0.6%, to end near 28,462.
  • The Nasdaq Composite finished up 0.7% lower to 8,946.

US benchmarks were giving back some pent-up space on the chars and sliding from record high consolidation territories into the final stags of 2019. US traders were thrown an insightful bone on Monday, following a news article withstand that a Chinese delegation was coming to Washington as soon as this Saturday for the sole purpose of signing a 'phase-one deal with the US. 

Subsequently, and what may at first seem rather counter-intuitively, US stocks fell. The S&P 500 was down 0.6% to end around 3,221 while the Dow Jones Industrial Average, DJIA, shed 183 points, or 0.6%, to end near 28,462, based on preliminary numbers. The Nasdaq Composite finished up 0.7% lower to 8,946, posting its second straight loss. It should be noted also that the index has probably been the most closely correlated to the Sino/US trade spat and hot and cold headlines regarding talks. 

Stocks on the verge of a sell-off?

At this stage, it would not be surprising that we see profits taken off the table if indeed investors have been buying into phase one deal and little else. A typical sell the fact trade could occur which would ultimately sink stocks and bring them back to an even keel into the first quarter of 2020 as investors reassess the global macro on a political and economic scale. We saw the same happen with Brexit. It was all risk on until markets took heed of the foreseeable risks on the horizon and once the euphoria died down, GBP plummeted around 4.5%. 

For the time being, stocks are just off the record highs and we have one full day left of trade to go on Wall Street tomorrow which could seal the bull's fate for 2019 and set the stage for the start of 2020. The open following the Chinese delegation visit on Saturday will be one to watch out for. In corporate news, shares of Tesla Inc. dropped 3.8% as analysts anticipate fewer car deliveries than the automaker's forecasts for 2019.

DJIA levels

 

Dec 30, 2019

NZD/USD stays firm around 0.6730 ahead of China PMI

NZD/USD trades around 0.6730 at the start of Tuesday’s Asian session. The kiwi pair remains on the front foot after posting three consecutive days of rise.
Read more Previous
Dec 31, 2019

AUD/USD seesaws near 0.7000, eyes China data for fresh impulse

AUD/USD bulls catch a breath around 0.7000 amid the initial Asian session on Tuesday. The pair rose considerably during the recent few days/weeks, eyes on China
Read more Next