Stock market quotes, forex, financial news, forex tools – money-investing.com

US stock market news

 Breaking News
  • Boeing announced the start of massive layoffs The Boeing Company has no choice but to take drastic measures. The world’s largest manufacturer of space and aviation equipment is forced to reduce the number of staff by 13...
  • Serious drawdown of oil quotes Today, oil is actively declining. A very significant increase in the reserves of “black gold” in the United States caused this drop. Moreover, the fears that Russia will not reduce...
  • Swiss watch makers are in crisis Swiss watch exports in April crashed at a record pace the drop has totaled 81% compared with the same period last year. Halting production and difficulties with sales caused by...
  • The intensification of the conflict between the USA and China leads to reduction of oil prices The energy market has started the trading session rather unsuccessfully. The next round of the trade war between the States and China caused the price fall. Because of this investors...
  • Germany saves Lufthansa An air carrier Deutsche Lufthansa AG has suffered losses because of the spread of the coronavirus pandemic. It became known that the German government had not left the matter unattended...
US stock market news
May 18
13:00 2020

Last week, the last trading day ended with a good growth for US stock indices. However, positive Friday failed to “pull out” the extremely bad week. The statistics and the resumption of trade disputes between the States and China caused such a negative dynamics.

The U.S. Department of Commerce has released national retail sales statistics in April. It became known that compared with March, the indicator had fallen by 16.4%. This is an absolute record of the decline rate in history of tracking the indicator (28 years!). This is caused by the pandemic and the associated general isolation. The reality has turned out to be much worse than the most pessimistic forecasts analysts assumed that the reduction would not exceed 12%.

Moreover, the investors were not pleased by the released report of the US Federal Reserve on the industrial production in the United States in April. It became known that over the month the figure had fallen by 11.2%. And this is one more anti-record by the US economy, since such a rate of decline has not been observed even more than a century-old history of its calculations.

It is not at all surprising that over a week, Dow Jones has fallen by 2.7%, S&P 500 – by 2.3%, and Nasdaq – by 1.2%.

But the Consumer Confidence Index has risen from 71.8(in April) to 73.9 points. A message from the US Department of Commerce has had a negative pressure on the national stock market. Officials announced that Trump’s administration had decided to block the supply of semiconductors for the Chinese high-tech giant Huawei. Market participants closely monitor the knowledge-intensive sector, since it largely determines the behavior of the entire market.

If we talk about semiconductors, then we should remember about the company Applied Materials, whose capitalization has dropped by 4.4%. The company has shown an increase in both net profit and revenue in the second fiscal quarter. But since the numbers did not meet the market expectations, stock quotes began to peak down.

 

Here’s how the most significant US indices closed Friday:

  • Dow Jones Industrial Average index has grown 0.25% and closed the day at 23685.42 points;
  • Standard & Poor’s 500 has added 0.39%, closing at 2863.7 points;
  • Nasdaq Composite has increased 0.79%, finishing the day at a value of 9014.56 points.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company
UFT Group

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment