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On Friday, American equities went down in midday trade because another sink in crude prices put pressure on energy shares.
The stock market faced a holiday-shortened trading session because of the Thanksgiving day.
The Dow headed south by nearly 0.56%. The S&P 500 index dipped by 0.46%. As for the tech-heavy Nasdaq composite, it slumped by about 0.11%.
Crude declined over 6%. It became possible because fears about a supply glut persisted. As for Exxon Mobil and Chevron, they slumped over 3%.
Meanwhile, the energy sector has gone down by 16.5% since the beginning of October. It turned out to be the worst performing S&P sector, with its biggest two-month sink since September 2011.
Besides this, retail equities are closely watched. Investors are eager to know if the companies are capable of overcoming an underwhelming retail earnings season.
In addition to this, Walmart managed to head north by over 1%. However, Amazon.com went down a bit.
Market participants are going to closely watch the G20 summit to be held in Buenos Aires, exactly where American leader Donald Trump and his Chinese rival Xi Jinping are anticipated to hold negotiations in the face of a worsening trade clash between the two leading economies that has put pressure on financial markets and generated fears of a global meltdown.
The high-stakes gathering comes as the current presidential administration demonstrates little sign of backing down in its demands as well as rhetoric. On the contrary, on Friday, Chinese Vice Commerce Minister Wang Shouwen told that trade negotiations need to be mutually beneficial and equal.
Contributing to fears, the Wall Street Journal informed that the American authorities were trying to convince wireless as well as Internet providers in allied countries to avoid using telecommunications equipment from China's well-known company Huawei Technologies.
On Wednesday, American stock index futures headed south because dismal data out of China affected market sentiment, while traders waited for more developments related to the US-China trade conflict…
On Wednesday, Italian stocks led losses in the European Union right after the country's deputy prime minister told that Rome considers breaking EU fiscal rules, thus masking early revenue powered by optimism around the US-China trade conflict…
On Tuesday, another US-China tariff conflict escalation put pressure on Asian stocks, although remarks from American leader that he expects trade talks to be successful backed market sentiment…
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Monday, gold declined because the evergreen buck managed to gain early traction, thus putting pressure on the most popular precious commodity, which has been sticking with the year’s minimums…
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