Tech shares suppress Wall Street after China data

Tech shares suppress Wall Street after China data

On Monday, tech equities suppressed Wall Street after a sudden sink in China's exports in December rekindled fears of a deceleration in global economic surge.

The China trade data backed worries that American duties on China’s exports were having an impact on the world's number two economy, making such as Apple Inc come up with a profit warning.

Chipmakers, getting a sizable portion of their gains from China, were affected, with the Philadelphia SE semiconductor index diving by 1.01%. As for Boeing Co and Caterpillar Inc, they slumped too.

Gains in Citigroup stocks assisted to spur the S&P financial sector that headed north by 0.80%, thus becoming the only gainer among the 11 key S&P indexes.

JPMorgan Chase & Co as well as Wells Fargo & Co are expected to post earnings on Tuesday.

The technology sector's 0.81% dive appeared to be the biggest drag on the S&P 500. A recent ascend in equities, driven by US-China trade optimism as well as expectations for a slow tempo of interest rate lifts, has powered a 10% jump in the S&P 500 from its Christmas Eve minimum.

ET, the Dow Jones Industrial Average dived by 0.30% being worth 23,922.94.  As for the S&P 500, it slumped by 0.45% hitting 2,584.61. The Nasdaq Composite decreased by 0.65% showing 6,925.87.

Contributing to the pessimistic mood was a partial US government shutdown that entered its 24th day. In the history of the USA that’s the longest shuttering of federal agencies.

Market experts actually expect S&P 500 companies to report a 14.3% surge in fourth-quarter gains, which appears to be lower than the 25% surge rate recorded in the first three quarters of the previous year.

PG&E Corp went down by 47.58%.

On the NYSE slumping issues outperformed advancers for a 1.32-to-1 ratio.


Apple event surprised traders
Apple event surprised traders

Every year in early autumn Apple holds its event where it presents new iPhones, Apple Watches, and iPads. This year wasn’t an exclusion. But yesterday’s presentation didn’t result in Apple stock growth, and here’s why.

Latest news

Bearish Signal For The USD
Bearish Signal For The USD

XAUUSD fell below 1900 for the first time since March 2023. Meanwhile, the US dollar index gives a bearish signal. Read the full report to learn more!

News for The Week
News for The Week

US stock markets started falling, while the US dollar is rising. What to expect from

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

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