The stock markets in New York are expected to open on Tuesday with small results. Investors are cautiously starting the trading week after a long weekend and are particularly aware of the trading issues between the United States and China. President Donald Trump said during his visit to Japan that his country is not yet prepared to enter into a trade deal with the Chinese. According to him, the recently introduced import tariffs on Chinese goods can go up even further.
Trump nevertheless continues to state that a trade agreement is still in sight.
“I think the US and China will definitely make a great deal sometime in the future and we look forward to it,” he said at a joint press conference with the Japanese prime minister.
Last week the president alluded to the fact that a milder position on technology group Huawei is a possible part of the trade deal.
Fiat Chrysler is expected to face a higher opening. The Italian-American company sent a merger proposal to its counterpart Renault. The French car company will probably make a decision about the offer next week. Shares of Fiat Chrysler, which is also listed on the stock exchange in Italy, were on the rise at the Milan stock exchange on Monday. In New York the stock markets were closed due to Memorial Day.
There is also takeover news. The American payment service provider Global Payments is taking over its counterpart Total System Services. The deal has a value of $ 21.5 billion and is handled entirely in shares. This is the third mega deal in the payment industry this year.
Tech giants Facebook, Google, Apple, Amazon, Microsoft and Twitter are also under the magnifying glass. Board members are accountable to the Canadian Parliament for, among other things, the distribution of fake news on their platforms and privacy issues.
The Dow-Jones index closed 0.4 percent higher on 25,585.69 points on Friday. The broader compiled S&P 500 increased 0.1 percent to 2826.06 points. Nasdaq technology level meter ended up 0.1 percent higher at 7637.01 points.
Peretz M. is an accomplished economist and financial journalist with a deep understanding of the global economy and financial markets. He is a regular contributor to EconomicInform, where he provides expert analysis and commentary on current economic trends and events. With a strong educational background in economics, Peretz has a talent for breaking down complex economic concepts for a general audience and is able to provide insightful perspectives on a wide range of economic issues.