08:25am   I am having  day away from my screens today and will be back trading next Tuesday – I hope you all have a nice relaxing weekend break.

Market Update:

The markets are being driven at the moment by news that the U.S. and China are going to hold talks within two weeks in an attempt to halt the growing trade war between the two countries. The Dow Jones 30 index rose 396.32 points (+1.58%) yesterday to close at 25,558.73 last night, its largest one-day rise in 5 months and the wider S&P-500 index rose slightly less (+0.79%). This morning U.S. equity futures are still fairly buoyant, pointing to another bullish session to end the week on a positive note.

The overnight Asian trading session was equally as upbeat and most bourses in the region ended the day ahead with the exception of the Chinese Shanghai Composite which closed down by 1.33% at 2,669.10 as the Pharmaceuticals sector dragged the main index down. The Hang Seng was more upbeat however with tech stocks performing well, especially Tencent which had suffered earlier in the week but saw a rise of 3.25% earlier this morning as negative news became history.

Oil markets rose on Thursday despite pressure on prices caused by weakening global demand caused by a general slow down in economic activity. Brent Crude touched and reversed at a minor support line at $70.50 on Wednesday and Thursday and is now heading for the 20-day moving average around $72.50 so watch for a potential trading opportunities here.