Yesterday was marked by the growth of quotations of the technological sector companies. Shares of Amazon.com Inc. grew by 1.8%, the excellent growth was shown by Facebook (1.4%), shares of Apple Inc. grew by 0.6%. The company eBay Inc. became the growth champion, its shares showed an increase of 2.4%. Thanks to the general growth of major players in the technology market, the growth was shown by the indices S & P 500 and Nasdaq Composite.
The Dow Jones Industrial Average showed a slight decrease. This is due to the fact that a significant increase in shares of such companies as Nike Inc. (by 1.3%) and Visa Inc. (by 1.25%) was stopped by a significant drop in quotations of the corporation Wal-Mart Stores Inc. (-3%).
The market is not pleased with the behavior of retailers’ securities. In one day Abercrombie & Fitch lost 21% on the news about the failure of the negotiation process regarding the purchase of the company. The fall was shown by such companies as Macy’s Inc. (by 7.1%) and Gap Inc. (by 6.3%).
The manufacturer of electric vehicles Tesla Inc. pleased the market with good news. The quotes of their shares rose by almost 1% against the news about the beginning of mass production of the electric vehicle Model 3.
By the close of the market on Monday, the indices indicated the following:
– The Dow Jones Industrial Average fell to 21,408.52 points (-0.1%);
– The Standard & Poor’s 500 index rose to the value of 2427.43 points (+ 0.1%);
– The Nasdaq Composite index grew to 6,176.39 points (+ 0.4%).
The reporting season of large corporations has begun. In particular, important players in the banking sector – JPMorgan Chase, Citigroup and Wells Fargo will publish financial results for the quarter. Waiting for the reports, bank shares showed a significant decline. After examining the opinions of market analysts on the expectations of reporting, traders have an opportunity to earn on the reporting of financial sector companies.
In addition to the focus on the quarterly reports of banks, investors should pay attention to such a report as general statistics on the inflation and retail sales in the USA. Wednesday and Thursday deserve the attention of traders thanks to the planned speech of Janet Yellen, Chair of the Federal Reserve. Undoubtedly, these events will have a significant impact on the behavior of the US dollar in currency pairs.
The material was prepared with the participation of Andrey Majorov,
a leading analyst of the brokerage company CT Trade