US equities stand still on trade clashes

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.  

 

 

Similar

Popular

Asian shares tumble with Japan markets shut

On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…

Greenback surges as yields soar

On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

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