Concerns over a US government shutdown and speculation over whether US President Donald Trump will attempt to fire US Federal Reserve Chairman Jerome Powell will put markets under pressure when they open Christmas Eve. Global markets have already been under pressure from everything from a China-US trade war to concerns about rising interest rates. Also, former-Nissan chairman Carlos Ghosn will likely be spending Christmas and New Year’s Day behind bars. Daily headlines from the UAE and around the world brought to you by Gulf News. See more at: http://gulfnews.com/videos
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00:00It's the night before the night before Christmas, and all through the House, there's really
00:05only one story, how the markets are going to open on Monday morning in the face of a
00:09rash of bad news.
00:10Now, over the last few days, we've seen a U.S. government shutdown, and we've seen that
00:15U.S. President Donald Trump is likely to try to fire Fed Chair Jerome Powell.
00:21Neither one of these things is any way good for the markets.
00:24The news about Powell is rather surprising because we're unsure whether or not Trump
00:28actually has the authority to fire Powell, but the fact that it's even being brought
00:32up at all is likely to spook markets on Monday.
00:35And then there's a U.S. government shutdown, which, according to Congress, is now going
00:39to go at least until December 27th.
00:41So sorry, folks.
00:42It may not be a very happy Christmas, and you may even see a Christmas Eve sell-off.
00:47In other happy Christmas news, former Nissan Chairman Carlos Ghosn is likely to be spending
00:53Christmas and New Year's behind bars.
00:55The announcement came out today that they are going to prolong his detention in Japan.
00:59He is currently being looked at for a number of financial violations.
01:04So for this and a bunch of other news, and certainly for updates on what's going on with
01:07global markets come Monday, and a look at UAE markets and what's holding them down,
01:12including banking and property, please come back to gulfnews.com.
01:16I'm Scott Shuey.