Dealers' Early Call
The FTSE 100 is called to open 4 points higher at 7441. Stocks closed broadly higher Friday, giving the S&P 500 index its third weekly gain in a row and putting it within reach of the record high it hit last September. Banks led the gains on Wall Street after JPMorgan Chase reported a strong quarter, helped by higher interest rates. Disney soared after unveiling a new video streaming service to go up against Netflix, the industry leader. Asian stocks were mostly higher on Monday in morning session, with Japan’s Topix touching its highest level for 2019, after strongerthan-expected China data on Friday improved investor confidence.
Have we murdered the news?
We have become accustomed to consuming news online for free over the past two decades. For the newspaper business, the consequences have been stark. UK national newspapers saw double digit declines in weekday circulations over the ten years to 2018, ranging from 30% for The Times to 60% for the Guardian. By the end of 2017, the number of people employed in the UK newspaper publishing industry stood at 35,000, a 33% fall from 2011.
Does populism pose a risk to markets?
Populism appears to have been the dog that hasn’t barked over the past few years. While populists have won notable victories in the US, UK and Italy, there has been relatively little fallout for investors. For some asset classes, you could even argue that populism has had a net positive effect, with Donald Trump’s tax cuts delivering a large boost to company earnings and the US economy overall.