Morning Briefing: Stock Mixed as the Trade Loomed

Good morning Moomooers. Stock mixed as investors are hesitating on the lingering uncertainty of Trade deal. Global stocks indices including Stoxx Europe 600 Index, SSE Composite Index, Hong Kong Hang Seng Index, and Nikkei, all declined, after White House adviser Peter Navarro said that the tariffs would not come to a decision recently. The U.S. stock futures slipped as well.

Shares of Aramco climbed 10% after the world's largest IPO.

Approximately 5 million retail buyers subscribed to the stock and pushed the price up by 10%, indicating strong domestic demand. However, the listing failed to meet Prince Mohammed's initial goal. The Saudi government has been intervening in the market this year, suggesting that they may support Aramco. However, some investors were deterred by the complex situation in the Middle East.

The trade agreement is likely to be approved by Congress in 2020.

Trade deal with Mexico and Canada is likely to be approved by Congress next year, as House Speaker Nancy Pelosi agreed with the negotiated version. The sum of trade amount with both Mexico and Canada almost reached that with China in 2018, as exporting and importing about $300 million with Canada, and about $600 million with Mexico, according to the U.S. Census Bureau.

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