The US authorities filed a lawsuit against Facebook - what are the implications?
American stocks head south
On Wednesday, American stocks inched down due to the fact that market participants stayed on the sidelines after a firm ascend in 2019, waiting for new developments on trade.
The S&P 500 has managed to surge by 11% in 2019 on hopes that China and America will soon conclude their fierce trade clash and the Fed is going to be less hawkish when it comes to lifting rates.
Wall Street began the trading week on an upbeat note after a report that the two sides would come to a compromise by the end of this month, although the optimism-powered ascend has since fizzled out.
The S&P 500 index is still unable to overleap a major resistance level - the 2,800-point mark. It had been concluding lower for five out of six trading sessions.
General Electric Co shares headed south by 6.1%, extending its losses from yesterday, after it reported a negative net income from its industrial businesses in 2019.
The energy sector inched down by 0.98%, which is the most impressive outcome among 11 key S&P sectors, suppressed by crude major Exxon Mobil Corp.
Exxon Mobil's 1.9% dive also put pressure on the blue-chip Dow index due to the fact that the company told it intended to ramp up its capital spending in 2020 for the purpose of restoring flagging crude and gas output.
ET, the Dow Jones Industrial Average slumped by 0.21% hitting 25,752.81. As for the S&P 500, it declined by 0.25% showing 2,782.54. Besides this, the Nasdaq Composite decreased by 0.40% being worth 7,545.98.
Dollar Tree Inc tacked on by 1.7% because the discount store operator posted better-than-anticipated quarterly same-store sales.
In addition to this, Plc rallied by 4.3%.
Russian media companies are complaining that Youtube and Facebook block them. So sad. Now, what about the stock price?
Have you seen the Tesla stock price? But it has already dropped from that high... will it move up again?
The market optimism waned amid stricter restrictions to control rising coronavirus infections. S&P 500 and Nasdaq dropped from the all-time highs, while the USD jumped higher.
S&P 500 skyrocketed to the all-time high on optimism that Biden’s fiscal stimulus will support economic growth and boost corporate earnings.
PMI reports from the EU, the UK, and the USA will be released during the day!