"Attack on Liberty" - 4 Things to know for today
- by Alexander Jakins
The party is over.
An attack on Nice, France, during a major national holiday has killed more than 80 people.
It was the latest in a series of deadly terror attacks in France since the beginning of last year.
Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1. Global stock market overview
U.S. stock futures are slipping lower. This follows a five-day record-setting rally.
Both the Dow Jones industrial average and S&P 500 closed at their highest levels ever on Thursday.
European markets are mostly down in early trading, with travel and airline stocks getting hit hard as investors worry that the Nice attack will further deter tourists.
A major profit warning from Swatch Group (SWGAY) is also hurting the luxury sector in Europe. Shares in Swatch are down by well over 10%.
Asian markets mostly closed the day with muted gains.
2. China slowdown
China's National Bureau of Statistics reported the economy grew 6.7% in the second quarter compared with the same period last year. That is a hair better than the 6.6% forecast in a survey of economists, and unchanged from the first quarter.
However, growth has now slowed to levels last seen during the dark days of the global financial crisis in early 2009. And economists see more challenges ahead for the world's second biggest economy.
3. GBP recovers from record lows
GBP/USD was on track on Friday to book its best weekly gain since 2009, emboldened by the faster-than-expected appointment of Theresa May as the new U.K. Prime Minister and the decision of the Bank of England (BoE) to hold rates steady.
The rally in sterling came in a rebound from 31-year lows as economic uncertainty was exacerbated after the U.K. voted to leave the European Union. The pound remains approximately 10% below its pre-referendum level against the dollar.
4. Investors rush for Line
Shares in Line (LN) closed with a 32% gain on Friday in Tokyo, marking a roaring market debut.
Line is the operator of a Japanese messaging app that's popular in Thailand, Indonesia, Taiwan and Japan. Shares in the company also debuted in New York on Thursday.
Line has about 218 million monthly users and offers a mish-mash of services similar to WhatsApp, Skype, Twitter, Zynga, Spotify and Uber.