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On Wednesday, US equities dived a bit because trade clashes between China and the United States resumed.
The S&P 500 inched down by 0.08% reaching 2,855.90, and the Dow slumped by 0.09% showing 25,607.01. As for the tech-heavy Nasdaq Composite, it went down by 0.10% trading at 7,875.92.
On Wednesday, China officially announced that it was fighting back the American trade duties, while on Tuesday the American government told that it’s going to slap a 25% duty on $16 billion of the opponent’s products on August 23, so the trade conflict between the two major economies of the world worsens. That’s the second set of duties against the Asian country for two months.
CVS Health appeared to be amidst the top performers after the morning bell, tacking on by up to 5.19% after its revenue beat forecasts. At the same time, Facebook managed to soar by 0.16%, while Bank of America edged up by approximately 0.18%.
In addition to this, Tesla was caught tumbling by nearly 2.14%. On Tuesday, the company inched up by about 11% right after Chief Executive Elon Musk told that he was considering taking the luxury car manufacturer private. As for Snap, it went down by 6.38% because the social media app posted an abrupt sink in daily active users. Walt Disney lost about 0.40% due to the fact its revenue came in lower than anticipated.
In the European bloc, equities were generally mixed. The DAX headed south by 0.18% in Germany. The CAC 40 went down by 0.34% in France. The FTSE 100 leapt by 0.64% in Great Britain. In addition to this, the Euro Stoxx 50 declined by about 0.46%. The IBEX 35 decreased by 0.65% in Spain.
Gold futures gained 0.01% trading at $1,218.40 a troy ounce. As for crude futures, they dipped by 1.49% being worth $68.14 a barrel.
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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