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US indices fell, owing to concerns about the agreement between China and the United States

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US indices fell, owing to concerns about the agreement between China and the United States
December 05
09:00 2018

The growth at the bidding on Tuesday turned into the fall of stock indices.

The market movement was positive after the news that the leaders of the States and China agreed to freeze duties. But then investors came to the conclusion that such a measure could not guarantee that agreement between the countries. Experts say that China has no obligation to purchase US products.

Bidding won’t be conducted on Wednesday. The exchanges will not operate because of the mourning for George H.W. Bush. He died on Friday at the age of 94.

The decline in the yield of 5-year bonds below the 3-year ones became an unpleasant factor too. The difference in the yield of 2-year and 10-year securities is the minimum over 11 years. Experts see this as a possible signal for a recession.

After the forecast deterioration of Morgan Stanley regarding FedEx and UPS, their stock prices dropped by 6.3% and 7.4%.

Marriott International securities have slipped by 1.2%. They said they were ready to pay for new passports to the customers who had suffered from the stolen data during a large-scale leak. 327 million people are at risk of losing the data. It costs about $ 110 to replace every document.

Apple shares have fallen by 4.4% after the 3% growth the day before. This is due to the HSBC forecast, which has changed the recommendations for holders from “buy” to “hold”.

The cost of Tenneco has fallen by 6% due to the news of a possible purchase of Ohlins Racing AB for $ 160 million. It should be noted that they make components for production and sports cars.

Dollar General’s shares have lost their value by almost 7% after the worsening earnings forecast.

AutoZone’s capitalization has increased by 6.8%. The profit and sales for the first quarter of this fiscal year are better than expected.

Good reporting also helped Movado, the watch manufacturer. Its shares have grown by 12%.

Dow Jones has fallen by 3% – to 25027 points, S & P index has slipped by 3.2% – to 2700 points. Nasdaq has lost its value by almost 4% – to 7158 points.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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