- There is continuity in global stocks as trade, politics, and growth keep investors on the sidelines of the global risk market.
- As United States President visits Euro to mark the 75th anniversary of the D-Day allied touching down in the northern part of France, the European stocks slide, as basic resource shares lead the declines.
- Copper futures reach a 2-year low, as manufacturing information shows contraction around the Asia region while global oil prices extend declines.
- China continues the prolong trade war with the United States, with an attitude that could see the American companies targeted by Beijing, while the United States President pushes Mexico to address the region’s growing immigration crisis and southern border.
- Ahead of relevant ISM manufacturing data at 10:00 am Eastern time, Wall Street futures propose a major opening bell declines on Wal Street.
Market Snapshot
On Monday, the global stocks extended declines. In nine years, this is the steepest May sell off for S&P 500, as investors reacted to the worsening trade tensions between Beijing and Washington and combining evidence of a parallel economic slowdown.
China released details of its trade viewpoint with the U.S. over the weekend in a move that hinted that China is digging for a prolonged trade battle with the United States.
The global oil prices followed commodity and stock prices lower Monday as industrial assets were repriced by investors in the wake of more information hinting a world economic slowdown. Oil prolong declines following a steep selloff that saw the United States crudes slide as much as 16%, while on the Shanghai futures exchange, the copper prices were marked at a 2-year low.
The new global benchmark for Brent crude contracts for August delivery was marked 93 cents lower from their close in New York Friday and trading at $61.06 per barrel. On the other hand, the WTI contracts for July were seen 39 cents lower at $53.11 per barrel.
