(13 NOVEMBER 2018)DAILY MARKET BRIEF 2:US equities rebound

Yesterday’s sharp drop in technology led by Apple’s fall of 5% pushed the global market downward. Hard hit is the technology index NASDAQ closing at -2.78%, followed by the Dow Jones at -2.32% and finally the S&P 500 at -1.97%. The move was also felt by the volatility index VIX, which rose above 20.50% intraday and finally eased towards 19.70%. 

However, the trend is expected to turn, as futures are turning green due to the hopeful Sino-American trade talks at the end of the month. To ease tensions, China Vice Premier Liu He, after a phone call with US Treasury Secretary Steven Mnuchin on Friday, is expected to visit the US for talks prior to the Xi-Trump meeting on 30 November in Argentina. In the case of a positive deal, we could see a global rally.