As President Trump embarks on an 11-day trip to Asia, his first as president, on Friday. International Trade and security issues will likely dominate the talks. Notably, North Korea will get a special focus as well as Trump will probably focus on diplomacy and trade negotiations to seek support in curbing North Korea’s enthusiasm for nuclear power.
Japanese Car Manufacturer Honda’s shares jumped after positive profit indication
Honda Motor Co.’s shares rose today after their profit forecast lifted its shares and helped other transportation stocks drive the Topix index. Although the Japanese car manufacturer shares did jump, the were kept in check by the Yen jumping in line with other major currencies. However, they rose to the highest level since February 2007.
Japan’s Topix index finished with a 0.4 percent increase in Tokyo, while the Nikkei 225 Stock Average finished 0.5 percent higher.
The Interest rate rise that the markets are hoping for, perhaps crossing their fingers
The Bank of England is widely expected to deliver its first interest rate hike in almost a decade on Thursday despite the issue of Brexit uncertainty looming over the economy. The markets are expecting a rate increase which fuelled a 0.4% rise of the pound against the dollar. The markets are responding to the speculation that an interest rate rise is looming which signals confidence in the market and interest rates would begin to rise to stop inflation from getting out of control.
The decision is due at midday, with savers and mortgage holders waiting to find out of they’re going to be better/worse off.
Bitcoin hits $6500 this morning as the crypto currency continues to surge
News of plans for bitcoin futures had already pushed it to new highs yesterday. As US-based exchange operator CME Group said it hopes to launch it by the end of the year. Analysts have commented that this would make the cryptocurrency a more legitimate and viable as a currency. Something Bitcoin needs to do if cryptocurrency are going to be treated as a currency alongside the Dollar, sterling and Euro.
Morrsions’ reports a 2.5% increase in sales for the third quarter of 2017
Morrisons’ supermarket has reported a 2.5% rise in sales for the third quarter. The rise in like-for-like sales, which measures activity in stores that have been open for more than a year, shows the retailer’s recovery is continuing.
Sales at the supermarket have now grown for eight quarters in a row. Morrisons’ has been the best performing supermarket amongst the established Big Four.
Facebooks Ad profits rocket past $10bn
Facebook profits soared in the third quarter as it brought in more than $10bn from advertising. The online social media giant said profits were $4.7bn (£3.5bn) in the three months to the end of September, up 80% year-on-year.
Chief executive Mark Zuckerberg told investors the firm’s investments in security would “impact” profitability. Facebook had 2.07bn monthly active users at the end of September, up 16% year-on-year.