Disney's "Mulan" was released yesterday. And there is a lot of publicity about it...
US equities are backed by tech rebound
On Tuesday, the S&P 500 as well as the Nasdaq managed to head north, underpinned by a rebound in technology equities, although profits, including the blue-chip Dow Jones Industrial Average, were tamed by fears over decelerating global surge.
As a matter of fact, the International Monetary Fund had its global economic surge estimates for the United States and China for this year and 2019 downgraded, telling that the two countries would face most of the impact of their trade feud in 2019.
It definitely suppressed the trade-sensitive industrials sector – it slumped by nearly 0.62%. Boeing declined by about 1%, while Caterpillar dived more than 2%.
Besides this, the heavyweight technology sector SPLRCT managed to inch up by up to 0.36%, with revenue in Microsoft as well as other software businesses more than compensating a sink in chip manufacturers, who actually count Chinese firms among their primary customers.
As for the communication services group SPLRCL, they rallied by 0.26%. Facebook added 1.8%, thus assisting to compensate an approximately 1% sink in Alphabet.
Aside from that the Dow Jones Industrial Average lost 0.08% ending up with 26,465.98. As for the S&P 500, it tacked on by 0.10% reaching 2,887.21, while the Nasdaq Composite soared by 0.39% showing 7,766.03.
Besides this, the materials index went down by 1.66%, suppressed by a sink in chemical firms after PPG's outcomes as well as paper packaging businesses after BMO's downbeat remarks on capacity and stock valuations.
Besides this, PPG Industries lost 7.8%, which is the most impressive dive on the S&P. It happened because the specialty chemicals producer told that its current-quarter revenue would be affected by higher raw material costs.
Energy equities soared by 0.34% because crude prices headed north on soaring evidence of slumping Iranian crude exports.
Long time we haven't checked the S&P 500 stocks - there are interesting events and trends to follow.
Nvidia and Alibaba report their Q2 results this week. Grab the levels and prepare to step in!
Follow Canadian core retail sales on September 18 at 15:30 MT time!
The US dollar gained after the Fed’s report, while riskier assets dropped. Let’s have a closer look.
Keep an eye on the UK monetary policy statement on September 17 at 14:00 MT time!