On Tuesday, Asian equities headed south along with crude prices due to the fact that downbeat mood about world surge drove traders away from risky assets…
S&P concludes down, tech equities dive
On Monday, the S&P 500 seesawed to a negative settlement due to the fact that a dive in technology equities led by Apple put pressure on market sentiment.
As a matter of fact, the Dow Jones Industrial Average headed south by nearly 0.35%. Besides this, the S&P 500 went down by nearly 0.61%. In addition to this, the Nasdaq Composite inched down by approximately 0.52%.
Besides this, the broader averages struggled for direction because Apple demonstrated a 1% dive. Goldman Sachs told that decelerating consumer demand in China could suppress Apple's revenue. However, the financial institution stopped short of lowering its prediction on iPhone shipments, repeating its December-quarter prediction for shipments to hit up to 80 million.
Although the vast majority of the smartphone weakness stayed in the mid and also lower range, it’s hard to believe that the given environment will help Apple unless things get better late in 2018, as financial analysts pointed out.
The equities of Alphabet, Microsoft, and Netflix concluded down.
Diving energy equities also restricted upside momentum notwithstanding a soar in crude prices in the wake of strengthening tensions between Saudi Arabia and the Western world over the disappearance of a prominent Saudi reporter.
Demonstrating indications of risk-aversion, the market’s defensive corners were generally in favor due to the fact that consumer staples managed to ascend by 1%. As a matter of fact, Walgreen's Boots Alliance as well as Campbell Soup concluded 2% up.
As for financials, they concluded down because Bank of America was pressured notwithstanding its revenue, which exceeded Wall Street forecasts.
Besides this, Bank of America posted profits of about of $22.78 billion. The given outcome managed to outperform Wall Street forecasts for profits of about $0.62 a stock on revenue of up to $22.63 billion.
On Monday, London markets managed to gain due to the fact that traders weighed up the latest China surge data and also waited for UK Prime Minister Theresa May to outline her fresh Brexit proposal to the country’s parliament…
On Monday, European equities dived from six-week maximums after China's fourth-quarter surge figures confirmed a deceleration in the world's number two economy with the previous year its worst year since 1990…
Did Bitcoin manage to recover and what was the hottest news in the crypto and blockchain world? Read and find out!
On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…