Global stock markets continued to march to a slightly faster drumbeat last week, with the US market posting a series of new all-time highs.

The FTSE 100 is called to open 22 points higher at 7350. U.S. stocks were mixed, as a surge in Boeing's stock helped the DJIA eke out a small gain. Pessimism surrounding the trade talks between the U.S. and China sent the dollar and oil lower. Gold was slightly higher after last week's big losses. Stocks were mixed Tuesday in Asia as investors awaited further developments on the U.S.-China trade front and kept an eye on the situation in Hong Kong. Treasuries recouped some of their recent losses.

This week’s Diary is mostly about the impact of artificial intelligence on investment, together with a little bit about the challenges of being a farmer during times of uncertainty.

Global growth continues to slow with a widening gap between advanced and emerging economies. The OECD recently downgraded its 2019 global GDP forecast to 2.9% (1.5% advanced/4.5% emerging) but contracting global trade and the repercussions of the US/China tariff dispute mean there are still downside risks. Although negative real interest rates and robust consumer spending should avert recession, the lack of new fiscal stimulus suggests a period of stagnation for many advanced economies.