Trump to hold China press conference – reverses 1% gain
Social media executive order signed – $TWTR and $FB shares drop
Euro breakout: above 1.10 and 200 SMA
There are some nerves before the press conference called by President Trump to announce the US response to the Hong Kong issue.
European shares have opened with a softer tone on Friday. Asian markets slipped, with the again the laggard. The S&P (NYSE:) 500 reversed a 1% gain yesterday to end slightly lower, snapping a 3-day winning streak. The euro was a standout gainer on rising hopes for the EU bailout fund but elsewhere haven currencies like the yen were preferred. The price of nudged up to $1720 per oz while oil turned lower after US inventory data showed US demand remains weak.
Trump HK Presser
The sense in markets is that Trump won’t come down too heavily on China over Hong Kong. Major US stock averages are on course for just under 3% weekly gains, demonstrating little evidence of…