The so-called “stock market bloodbath” has continued on Friday with major indices falling down to the lows of the last October. What's going on?
American equities are mixed
On Thursday, American futures were mixed because trade tensions between the European Union and America receded and a steep dive in Facebook equities put pressure on technology shares.
The S&P 500 futures slumped by 0.20% hitting 2,835.50. Dow futures rallied by 0.09% trading at 25,426.0. Additionally, the tech heavy Nasdaq 100 futures dived more than 0.87% reaching 7,404.75.
Trade clashes between the EU and America relieved after a productive gathering with Donald Trump and Jean-Claude Juncker, European Commission President on Wednesday. As a matter of fact, the two sides agreed not to slap car duties. The countries started talks to remove trade barriers.
Today the following companies are expected to report their outcomes: American Airlines Group, McDonald’s Corporation, Comcast, Mastercard Inc and Under Armour Inc A.
Market participants are especially interested in the results of Amazon.com, expected to come up with its report after the closing bell.
Facebook found itself on track for its greatest share price sag ever, right after the company officially warned that margins could head south because of privacy safeguard costs as well as decelerating usage of the website. In the pre-market trading session Facebook lost about 18.63%.
Besides this, Tesla headed south by 1.18%, PayPal Holdings Inc inched down about 3.47%, while Netflix decreased by 2.11%.
Additionally, Qualcomm managed to ascend by 5.18% right after it told it would cancel its bid for Dutch chipmaker NXP Semiconductors. Additionally, semiconductor Micron Technology Inc soared by 0.69%.
In addition to this, market participants are also waiting for durable goods data and jobless claims.
In the European Union, equities generally ascended. The DAX managed to rally 1.22% in Germany. The CAC 40 gained 0.44%. The FTSE 100 acquired 0.02% in London. The Euro Stoxx 50 soared by 0.77%. In Spain, the IBEX 35 leapt by 0.52%.
Besides coronavirus, other news has been driving the stocks of Apple, Wallmart and General Motors to the lower levels.
Will coronavirus continue keeping the markets in fear? What releases should we wait for? Find out in the news!
The British pound has increased in value over the course of the past week in line with an ongoing improvement in investor sentiment.
Economic activity in service sector in the Euro zone and the UK is on its lowest rates since 2009.
Jerome Powell made a rare appearance in the public media this Thursday. What did he bring to the audience?