Virgin Galactic’s Branson flew to space, but the stock of Virgin Galactic (SPCE) dropped. Why?
US equities rally
On Tuesday, US stock indices inched up because investors reacted positively to the news of the outcome of the next round of trade negotiations between the United States and China.
The Dow Jones Industrial Average and Standard & Poor's 500 concluded the trading session at their maximums since March. The index of small companies Russell 2000 managed to ascend to a record peak for the fourth consecutive trading session.
The Dow Jones Industrial Average soared by 1.21% reaching 25013.29 points by the close of the market on Monday.
Standard & Poor's 500 headed north by 0.74% hitting 2733.01 points.
Nasdaq Composite managed to acquire 0.54% amounting to 7394.04 points.
China agreed to ramp up the purchase of American goods, although agreements on a certain volume of trade deficit reduction haven’t been reached yet, as MarketWatch informed.
Papers of industrial companies turned out to be the leaders of surge among Dow Jones companies on Monday. The value of Caterpillar Inc equities soared by 2.1%, Boeing acquired 3.6%.
Meanwhile, indicators of all 11 major industry groups of the S&P 500 index gained on the basis of trading outcomes, while the industrial companies' sub-index soared by 1.4%.
The cost of securities of the regional bank MB Financial Inc. added by 12.9% on the information that Fifth Third Bancorp is going to acquire MB Financial as part of a $4.7 billion deal.
Equities of Fifth Third Bancorp went down by 7.9%.
The price of securities of General Electric tacked on by 1.9%, while Wabtec's share price soared by 3.5%.
Paper Tesla Inc. tacked on by approximately 2.8% on the reports of the head of the company Ilona Mask on the specifics of the updated version of the car Model 3.
Chip-maker quotes tacked on due to Micron Technology's improved earnings and revenue forecasts for the third fiscal quarter.
The overall market sentiment is risk-on. The S&P 500 index (US 500) is getting close to the all-time high. Oil is recovering quickly from its recent losses.
What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
PMI reports from the EU, the UK, and the USA will be released during the day!