Three more corporations reported their earnings today. While the US session is still closed, let's see the data - it's pretty strong!
Geopolitical risks put pressure on US stock indices
On Wednesday, American stock indices dived due to a new round of geopolitical as well as foreign trade risks. Indicators 9 of the 11 major industry groups of the S&P 500 index tumbled during the auctions, most significantly. These were the group of industrial and also raw materials companies.
The Dow Jones Industrial Average index sank by 0.27% and accounted for 24768.49.
Standard & Poor's 500 went down by 0.2% reaching 2718.99.
Nasdaq Composite declined 0.13% and amounted to about 7369.09.
President of the United States Donald Trump told yesterday that his highly anticipated meeting with the leader of the DPRK Kim Jong-no can be delayed to a later date.
Traders also paid attention to the minutes of the gathering of the Federal Open Market Committee from May 1-2 that will be made public soon.
In addition, market participants paid attention to budget stimulation. The day before, Trump told that his administration is preparing an extra tax cut that will be uncovered before November this year.
Statistics, published on Wednesday, pointed to a more considerable than expected slump in sales of new buildings in the United States the previous month.
In April, sales of new homes in the United States went down by 1.5% compared to the previous month and accounted for 662 thousand houses in annual terms, as the Ministry of Trade of the country informed. The March indicator was updated down to 672 thousand from 694 thousand houses. Additionally, Wall Street analysts on average expected a dive in sales of new buildings in April to 682 thousand homes.
Caterpillar and 3M appeared to be among the leaders of the dive on Wednesday, losing respectively 0.2% and 0.6%.
Comcast's share price went down by 1.7%.
Walt Disney headed south by 1.4%, Fox rallied by 1%.
As the earnings season kicks in, JPMorgan is the first to impress us with the better-than-expected data!
Nike has dropped to lows unseen since November of 2020 as it faces a boycott in China over Xinjiang's cotton issues.
In this article, you'll find the list of the hottest stocks to trade on April 19-23, which will publish their earnings!
While Citigroup reports better-than-expected quarterly data, it is also aims at restructuring its global presence. What will be the impact?
What's moving markets on Friday? What is the hottest news? Let's find out!