US equities stand still on trade clashes
On Monday, American equities were nearly intact because market participants closely watched an intensifying trade conflict between China and America as well as a mixed pack of corporate outcomes.
China proposed a bunch of differentiated duties on $60 billion worth of American products the previous week, thus responding to the current US presidential administration's plans of 25% duties on $200 billion worth of China’s products.
On Monday, China’s state media launched a powerful attack on US leader’s outrageous trade policies, telling that his trade stance wouldn’t work with the world’s number two economy.
The months-long clash has affected financial markets throughout the world, although the American markets have been mostly underpinned by a firm profits season so far.
As a matter of fact, Berkshire Hathaway Inc tacked on by 3.6% right after the Warren Buffett-led conglomerate posted a 67% leap in its quarterly operating revenue.
Newell Brands went down by 7% after the Sharpie pen manufacture posted quarterly sales below investors’ forecasts on Monday and downgraded its full-year estimate.
The Dow Jones Industrial Average headed south by 0.22% hitting 25,406.6. As for the S&P 500, it managed to tack on by 0.02% being worth 2,841.04. Additionally, the Nasdaq Composite rallied by 0.06% hitting 7,816.86.
Besides this, 6 of the 11 key S&P sectors slumped, led by a 0.4% sink in the S&P materials index.
Additionally, Praxair slumped by 5.2% following its $86 billion merger with Germany’s industrial gases group Linde generated mistrust by more demands from American antitrust watchdogs.
Intel turned out to be the biggest drag on the key indexes, losing 1.8% after Barclays had the stock downgraded to “equal weight.”
PepsiCo tacked on by 1.3%.
The S&P index demonstrated 11 fresh 52-week maximums and no fresh minimums. As for the Nasdaq, it came up with 30 new minimums and 35 fresh maximums.
The US-China trade war escalates
More tariffs were introduced
Stocks of technological companies fell, pay attention to earnings
Yesterday, the US Justice Department announced a broad antitrust review ...
Futures head south after China data points to decelerating retail sales
On Wednesday, American stock index futures headed south because dismal data out of China affected market sentiment, while traders waited for more developments related to the US-China trade conflict…
Bitcoin dives 14%, slumping below $5,000
On Tuesday, crypto assets dived, with Bitcoin decreasing below the psychologically crucial $5,000 mark for the first time this year…
British inflation tacks on for the first time this year
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
Market updates on June 18
Welcome to Tuesday, people! Here’s your markets update ahead of the European trading session.