On Wednesday, US stock markets closed with different dynamics. Optimism about the interim trade agreement with China evaporated; but for Nasdaq, it was a record session closing for the fifth time in a row.
Last week it became known that the deal between the countries successfully had passed the first phase. This has provided the markets great support. In addition to the fact of the successful signing, Trump also said that he would not impose new sanctions against Chinese goods. It was decided to reduce the 15% duty on goods worth $ 120 billion.
There was no other news regarding the terms of the transaction or future agreements. This caused some tension in the markets. A 10% decrease in the value of FedEx shares has become the second reason for the fall of the stock indices. Also, the company has worsened its forecast for the current fiscal year. Poor revenue and increased costs caused this.
It should be noted that the market has ignored another important event – Trump’s impeachment vote.
JPMorgan shares have lost 0.1%. Cigna Corp securities have increased 2.4%. The shares of Leidos Holdings have grown by 4.5% after the announcement of the purchase of Dynetics, which is engaged in research in the field of national security.
At the close of trading on Wednesday, the Dow Jones fell 27.8 points – to 28239.3 points, S&P 500 lost 1.4 points – to 3191 points. Nasdaq rose 4.4 points – to 8827.7 points, reaching a record high.
The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group