This information has been prepared by IG, a trading name of IG Markets Limited. IG offers a grey market on ByteDance, with traders able to speculate on the company’s share price ahead of the listing, with a valuation of $75 billion being viewed as a potential figure. Signals of a potential shift into the music streaming service hints at the possibility of another expansive tech company that is willing to challenge across a number of markets. With relations still strained between the US and China, there has been much speculation on how that unwelcome US stance could impact the IPO price for TikTok owner ByteDance.Ĭoming in the wake of the Aramco announcement, traders are keenly awaiting the pricing and market cap of ByteDance, with the multi-billion dollar company just the latest in a long line of tech stocks that many believe could become a global powerhouse. However, for US stocks it does feel as if we are closer than ever to a partial deal which will likely benefit US stocks and raise market confidence. Hurdles clearly remain, with the two sides yet to schedule a meeting between Trump and Xi Jinping to replace the Santiago summit that was previously planned for this week. The outlook for US-China trade negotiations remain a key factor for markets at the moment, with the prospect of a reduction in tariffs helping drive stocks higher.
Johnson’s advisors largely kept him out of the spotlight during the leadership race back in July, and thus there is a worry for some that he could come unstuck when faced by a Labour grilling tonight. Given the double-digit lead for Boris Johnson’s Conservative party, there is a feeling that tonight’s debate is more likely to hinder that lead than enhance it.
#Debate drags limbo in europe fate driver
On a day largely devoid of major UK news, markets will be following tonight’s election debate as a potential driver of sentiment for the pound. The FTSE 100 has outperformed its peers, as a wider bullish sentiment has been enhanced by declines in the pound. However, while we are seeing a pick-up in the housing sector, there are also some worries over US consumption after weak numbers from the likes of Home Depot and Kohl. Sentiment over US growth prospects improved off the back of an impressive batch of housing numbers that saw building permits hit a 12-year high. US markets have pushed into fresh record highs at the open today, following on from an overwhelmingly positive session in Europe. US-China uncertainty could impact ByteDance demand and IPO price.UK outperforms as the pound declines ahead of election showdown.US housing data helps support US stocks after weak retail earnings.Meanwhile, continued poor relations between the US and China could hurt ByteDance’s IPO pricing. Sterling weakness has helped push the pound higher today, with tonight's election debate raising the prospect of a shift in the polls.
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