This week Apple, Microsoft, Google, Facebook, Pfizer, and other large US companies will deliver earnings reports…
Trade worries suppress Wall Street
On Thursday, the S&P 500 along with the Dow Jones Industrial Average slumped after four winning trading sessions due to worries as for the US-China trade conflict, although profits in technology equities helped to raise the Nasdaq.
The US government has come up with an offer to impose duties on a further $200 billion worth of China’s products that will come true next month after a public comment period concludes on September 5.
Meanwhile, metal prices sank because the China-US trade clashes overshadowed optimism that Canada and America could come to a fresh a fresh North American Free Trade Agreement.
Aside from that, the S&P materials index declined by 1.27%, which is the best outcome amidst the 11 key S&P sectors. As for trade-sensitive industrials SPLRCI, they headed south by 0.5%, led by Caterpillar's 1.2% dip.
High-profile technology equities gave support. Facebook rallied by 2% and Apple grew 1.4%.
Amazon tacked on by 1.4% hitting $2,025.57. As for Amazon, it soared by 1.3%.
ET the Dow Jones Industrial Average declined by 0.33% reaching 26,037.48. The S&P 500 went down by 0.20% reaching 2,908.25. As for the Nasdaq Composite, it jumped by 0.12% demonstrating 8,119.77.
Eight of the 11 S&P sectors turned out to be loser, with financial as well as energy equities suppressing the S&P.
Dollar Tree went down by 13.2%, which is the best result on the S&P, having posted lower margins and forecasted a downbeat full-year revenue.
Electronic Arts headed south by 9.5% after the videogame maker postponed the launch of "Battlefield V" by up to 4 weeks and also reduced its full-year net bookings estimate.
Signet Jewelers inched up by up to 25.4% after the company managed to top sales as well as revenue estimates and had its full-year sales forecast raised.
Virgin Galactic’s Branson flew to space, but the stock of Virgin Galactic (SPCE) dropped. Why?
Virgin Galactic (SPCE) will launch Richard Branson to space on July 11, aiming to beat Jeff Bezos.
What events to follow and how to trade during the week of July 2-6?
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.
The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!