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On Monday, American stock indexes dropped notwithstanding the positive start to the corporate reporting season for the first quarter. Nevertheless, following the results of the whole the previous week, the indicators increased. For example, the Dow Jones Industrial Average gained by 1.8%, Standard & Poor's 500 rallied by up to 2%, while Nasdaq Composite jumped by approximately 2.8%.
Market participants expect that the financial statements of companies for the first quarter are going to become a bright spot against the background of increased geopolitical tensions. Nevertheless, the events around Syria, as well as the trade dispute between America and China remain in the focus of the market's attention and have rather a negative impact on investor sentiment.
According to Chief Investment Officer of the Commonwealth Financial Network, Brad Macmillan expectations about the upcoming reporting season are too high, which could cause a decline in the market.
The index of consumer confidence in the US dived to 97.8 points in April versus March’ level of 101.4 points, which is the maximum level for 14 years, according to preliminary data from the University of Michigan, released on Friday. The consensus forecast of experts suggested a dive to 101 points.
On Friday, the Dow Jones Industrial Average dived by about 0.5% and ended up with 24360.14.
Standard & Poor's 500 went down by approximately 0.29% hitting 2656.3.
Nasdaq Composite went down about 0.47% and accounted for 7106.65.
The financial sub-index of the S&P 500 demonstrated the worst dive among the eleven industry groups – it headed south by 1.6%.
Additionally, JPMorgan Chase, Citigroup as well as Wells Fargo inched down by 2.7%, 1.6% and 3.4% respectively, notwithstanding good results. All three banks stepped up their net revenue in the first quarter, with the figures surpassing the average market estimates.
On Monday, US stocks surged because dives in Boeing and Facebook held profits in check and traders closely watched this week's Fed gathering for affirmation of the major financial institution’s commitment to patient monetary stance…
On Friday, European equities went up, breaching a five-month maximum recorded yesterday because market participants cheered upbeat signals over US-China trade negotiations and after British lawmakers underpinned a delay of a chaotic departure from the EU…
On Friday, Asian equities surged because market sentiment got better on a report that more progress has been achieved in US-China trade negotiations and after British lawmakers decided to postpone a potentially chaotic departure from the European bloc…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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