Market participants react to Trump speech, earnings

Business


Market focus was largely attuned to President Donald Trump‘s state of the union address on Tuesday, after he vowed to build a wall that is a source of a deep partisan divide.

Democrats did not yield to Trump’s demand to fund the barrier, leading to a 35-day partial government shutdown during December and January.

In Asia, MSCI’s broadest index of Asia-Pacific shares, excluding Japan, was little changed from the previous session.

Trading in the region was subdued on Wednesday, with many financial markets closed for the Lunar New Year. China’s financial markets are closed all week, with South Korea’s index set to reopen on Thursday.

Back in Europe, investors are likely to monitor a fresh batch of earnings results on Wednesday. Denmark’s Carlsberg, Germany’s Daimler and Italy’s Unicredit are among some of the major companies set to publish their latest quarterly figures.

On the data front, a reading of German factory orders for December is expected at around 7:00 a.m. London time. That’s scheduled to be followed by German construction PMI figures for January shortly after the opening bell.



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