S&P: Yesterday’s bearish engulfing/shooting star type candle suggests resistance at 2780 is a little stronger than we had imagined. Chart from Analyst, Nicole Elliott – Investors Chronicle

 

S&P SHORT TERM TRADER: Short at 2735; stop above 2800. First target 2680.

S&P POSITION TAKER: Might sell at tonight’s close.

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EU trade tariffs kick in today Flat 25 per cent

While most blame President Trump, the EU is complicit in the looming trade wars this year. In retaliation, today the European Union has introduced tariffs on US goods imported into the region, media focusing on iconic items like bourbon, jeans, motorcycles and orange juice worth a total €2.8 billion.

An emergency ‘mini-summit’ meeting of EU leaders has been called for this Sunday by Jean-Claude Juncker to discuss migration issues ahead of next week’s council summit. The German Chancellor is under pressure from her coalition interior minister to change her policy on asylum seekers. However, Italy – where interior minister Matteo Salvini, the League party’s leader is becoming a dominant force – has objected strongly to the proposals and is rumoured to have threatened withholding contributions to EU funding.

 

Financial Markets & Political Commentary

 

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