BlackBull Bulletin 13 July 2018

Weekly Market Update

President Donald Trump will meet with Russian President Vladimir Putin in Helsinki, Finland from 16 July – 17 July. The two leaders will discuss topics from Syrian war and North Korean threats to alleged meddling in the 2018 U.S. election. However, the most important outcome of the meeting may be the extension of the New Start nuclear treaty between the U.S. and Russia. The summit will be one of the most anticipated summits in years, experts say they think Putin will come out with the upper hand.

Japan-EU summit is scheduled to take place on 17 July in Tokyo, Japan. The leaders are expected to reaffirm their commitment and sign the EU-Japan economic partnership agreement and the RU-Japan Strategic partnership agreement.

20th EU-China Summit will take place on 16 July in Beijing, China. The main topic of discussion will be the bilateral trade and investment relations between the two nations. Despite the U.S. tariffs on EU metal exports, EU shares concerns about China’s closed markets and intellectual property theft. The other topic of discussion will be on Foreign and security policy issues. These issues include denuclearisation of the Korean peninsula, Iran nuclear deal, the situation in Syria, Afghanistan, and the Rohingya crisis.

Earning figures are set to release later this week. The earnings range from entertainment company like Netflix to big banks such as Morgan Stanley. The earnings releasing this week is a big portion of NASDAQ and S&P, better than expected performance will be positive for these indices.

Important Chinese GDP figure is set to release on 16 July. Economists forecast China will report second Quarter GDP growth slowed to 6.7% from 6.8% in the previous quarter. This slowed in growth would underscore the concerns that the trade war between the U.S. and China is starting to impact on the world’s biggest nations.