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 stock indices inch up by 1.7-2.1%
On Wednesday, American stock indexes headed north thanks to signs of easing tension in US-China trade relations, as follows from MarketWatch.
Chairman of the People's Republic of China Xi Jinping pledged to actively develop the policy of opening the country to the outside world. Speaking at the economic forum that started in Boao, he pledged to provide foreign businesses with more access to the financial as well as production sectors of the country, to spur imports, and to improve the protection of intellectual property as well as to provide a more transparent and manageable environment for foreign investment.
Besides this, China is on the verge of reducing duties on imported vehicles and allow foreign automakers to own larger shares in joint ventures to produce vehicles in the country.
Xi Jinping emphasized that economic globalization appears to be an inevitable trend of the present time. At the same time, he noted that his country does not seek a surplus in trade.
On Tuesday, the Dow Jones Industrial Average inched up by 1.79% demonstrating an outcome of 24,408.
Standard&Poor's 500 for the day inched up by 1.67%, making 2656.87.
The value of Nasdaq Composite on the basis of trading increased by 2.07%, hitting 7094.3.
Equities of 28 of the 30 companies that are included in the calculation of the Dow Jones Industrial Average, went up on Tuesday. Among the leaders of the leap in quotations were the papers of Intel Corp, which gained 3.5%, Boeing Co, which rallied +3.8%, Caterpillar Inc, which soared 3.5%, DowDuPont that grew 3.5% as well as Cisco Systems, which tacked on 3.3%.
Besides this, the shares of Exxon Mobil Corp headed north by 2.9%, while ChevronCorp edged up by 2.5%.
Besides this, the share price of Tupperware Brands Corp. sank by 11.5% after the manufacturer of plastic dishes worsened the forecast of financial indicators.
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.
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