American stocks inch down due to fears of trade and acceleration of inflation

American stocks inch down due to fears of trade and acceleration of inflation

On Tuesday, Wall Street headed south. It took place due to the fact that investor concerns over the lack of progress in China-US trade talks as well as soaring profits of American government bonds after data on retail sales pointed to a potential acceleration of inflation in the United States.

The United States and China are still extremely far apart in tackling a trade dispute, as some financial analysts told before the highly anticipated second round of negotiations on trade in Washington.

As a matter of fact, retail sales in the United States tacked on up to 0.3% in April having soared approximately 0.8% in March. That’s what the Commerce Department told on Tuesday.

At the same time, the jump in basic retail sales pointed to a probable acceleration in consumer spending surge after a steep slowdown in the first quarter.

After the publication of economic data, the revenue of indicative 10-year US state bonds tacked on to an outcome of 3.058%. It appears to be the highest result since July 2011.

As for eleven major S&P sectors, all of them were caught going down.

Home Depot Inc went down 1.4% after the largest American chain of stores for the sale of tools for repair as well as building materials reported on comparable sales, which didn’t manage to reach the reading many market participants had hoped for.

In addition to this, the shares of the company's smaller competitor, Lowe's, went down by up to 0.6%.

The Dow Jones index headed south about 0.74% coming up with a reading of 24,715.17. Besides this, the S&P 500 index inched down 0.66% ending up with 2.712.02. As for the Nasdaq Composite index, the given index decreased 0.83% reaching about 7.349.45.

Similar

Asia-Pacific stocks are mixed

On Friday, Asia-Pacific stock indices were quite mixed amid cautious trading after US President Donald Trump dared to cancel the highly anticipated summit with North Korean leader Kim Jong-no and also accused North Korea of ​​showing great anger as well…

Popular

Crude edges down in Asia on Caixin PMI

On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera