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You can find the current article at its original source at https://www.theguardian.com/business/live/2017/mar/24/markets-await-us-healthcare-vote-and-french-and-german-data-business-live
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| Markets cautious after crucial US healthcare vote delayed - business live | |
| (35 minutes later) | |
| 8.30am GMT | |
| 08:30 | |
| European markets dip in early trading | |
| Caution on Wall Street last night has carried through to Europe this morning as a subdued trading session gets underway. | |
| Here are the early scores: | |
| FTSE 100: -0.02% at 7,339 | |
| Germany’s DAX: -0.1% at 12,034 | |
| France’s CAC: -0.3% at 5,017 | |
| Italy’s FTSE MIB: -0.3% at 20,113 | |
| Spain’s IBEX: -0.3% at 10,291 | |
| Europe’s STOXX 600: -0.2% at 377 | |
| Investors are in wait and see mode as Trump engages in a major standoff with his fellow Republicans over the controversial healthcare bill to replace Obamacare. | |
| 8.04am GMT | 8.04am GMT |
| 08:04 | 08:04 |
| Here’s our full story on Trump’s ultimatum: | Here’s our full story on Trump’s ultimatum: |
| 8.03am GMT | 8.03am GMT |
| 08:03 | 08:03 |
| Wall Street closed down last down but it could have been a lot worse after Trump had to admit defeat (for the time being at least) on the US healthcare bill, which seeks to replace Obamacare. | Wall Street closed down last down but it could have been a lot worse after Trump had to admit defeat (for the time being at least) on the US healthcare bill, which seeks to replace Obamacare. |
| Trump took gamble on Thursday by issuing an ultimatum: pass the bill in its current form or we’re sticking with Obamacare. | Trump took gamble on Thursday by issuing an ultimatum: pass the bill in its current form or we’re sticking with Obamacare. |
| The Dow Jones was pretty much flat at the close, while the S&P 500 dipped 0.1% and the Nasdaq closed down 0.2%. | The Dow Jones was pretty much flat at the close, while the S&P 500 dipped 0.1% and the Nasdaq closed down 0.2%. |
| We are taking action to #RepealANDReplace #Obamacare! Contact your Rep & tell them you support #AHCA. #PassTheBill https://t.co/opzrXJigGA pic.twitter.com/C7snoRafPI | We are taking action to #RepealANDReplace #Obamacare! Contact your Rep & tell them you support #AHCA. #PassTheBill https://t.co/opzrXJigGA pic.twitter.com/C7snoRafPI |
| 7.40am GMT | 7.40am GMT |
| 07:40 | 07:40 |
| Agenda: Snapshot of French and German economies due | Agenda: Snapshot of French and German economies due |
| Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. | Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. |
| Another day, another wait to see if Donald Trump’s healthcare bill will pass muster after delays on Thursday. Markets are nervous that a failure could dent Trump’s tax and spending plans, which have been boosting share values ever since the election. But it may not be that simple. Ipek Ozkardeskaya, senior market analyst at London Capital Group, said: | Another day, another wait to see if Donald Trump’s healthcare bill will pass muster after delays on Thursday. Markets are nervous that a failure could dent Trump’s tax and spending plans, which have been boosting share values ever since the election. But it may not be that simple. Ipek Ozkardeskaya, senior market analyst at London Capital Group, said: |
| A validation would ... grant Trump the credibility on his ability to pass through his fiscal policies, including tax reforms and large infrastructure spending. An eventual failure could let down investors, yet it is worth noting that the major market focus is still on the US’ fiscal plans and the Trump administration could carry on with its expansive fiscal plans regardless of a disappointment on the health-care bill. | A validation would ... grant Trump the credibility on his ability to pass through his fiscal policies, including tax reforms and large infrastructure spending. An eventual failure could let down investors, yet it is worth noting that the major market focus is still on the US’ fiscal plans and the Trump administration could carry on with its expansive fiscal plans regardless of a disappointment on the health-care bill. |
| Meanwhile the eurozone is back in focus, or at least France and Germany. Initial readings for the manufacturing and service sectors for the two countries in March are due shortly. Michael Hewson at CMC Markets said: | Meanwhile the eurozone is back in focus, or at least France and Germany. Initial readings for the manufacturing and service sectors for the two countries in March are due shortly. Michael Hewson at CMC Markets said: |
| We get to see whether the recent economic recovery in France and Germany has maintained its traction from January and February, with the latest flash PMI’s for March in the manufacturing and services sectors. | We get to see whether the recent economic recovery in France and Germany has maintained its traction from January and February, with the latest flash PMI’s for March in the manufacturing and services sectors. |
| France in particular saw a strong performance in the services sector in February, and this looks like it could well be sustained in March with only a slight slowdown expected to 56.2 from 56.4. Manufacturing remains a slight laggard, but is still expected to come in at 52.4. | France in particular saw a strong performance in the services sector in February, and this looks like it could well be sustained in March with only a slight slowdown expected to 56.2 from 56.4. Manufacturing remains a slight laggard, but is still expected to come in at 52.4. |
| German activity is expected to show similarly steady numbers of 56.6 for manufacturing and 54.5 for services. | German activity is expected to show similarly steady numbers of 56.6 for manufacturing and 54.5 for services. |
| Later come US durable goods orders. Meanwhile here are the opening calls for European markets, courtesy of IG: | Later come US durable goods orders. Meanwhile here are the opening calls for European markets, courtesy of IG: |
| Our European opening calls:$FTSE 7345 up 4$DAX 12047 up 8$CAC 5027 down 6$IBEX 10315 down 10$MIB 20147 down 20 | Our European opening calls:$FTSE 7345 up 4$DAX 12047 up 8$CAC 5027 down 6$IBEX 10315 down 10$MIB 20147 down 20 |