Nike has dropped to lows unseen since November of 2020 as it faces a boycott in China over Xinjiang's cotton issues.
US equities tack on
On Friday, American futures demonstrated a seventh consecutive winning trading session, amid the end of the quarterly reporting season. The attention of market participants switched to the American consumer confidence index.
The Dow blue-chip index futures inched up 0.21%, the S&P 500 futures gained 0.21%, while futures of the high-tech Nasdaq 100 soared by 0.12%.
This week turned to be the last week of a large number of corporate reports of American companies for the first quarter. On Friday, the only crucial report will be the quarterly report of Thomson Reuters.
Published after the close of the previous trading session, Nvidia's report managed to surpass all forecasts of experts, due to high revenue surge from units engaged in creating graphics processors for data centers as well as for the gaming segment. Notwithstanding the positive quarterly report, equities of Nvidia at the auctions before the market opening on Friday headed south by nearly 2%. On Thursday before the release of the report, the price of the equities of this company hit a historic maximum of $260.13.
Market participants will also closely watch the development of the political situation in the United States – the US President Donald Trump is expected to uncover his plan to reduce the price of medicines.
Besides this, Trump is going to meet with the leading car makers in the White House for the purpose of discussing fuel standards in the United States as well as the emerging prospects for a conflict with California and other leading states about easing environmental requirements for vehicles.
On Friday, crude prices were still close to the maximums for three and a half years amid the prospect of imposing sanctions against Iran. Apparently, the resumption of sanctions threatens to cut crude supplies from the Middle East in the face of a soaring demand for black gold.
Chinese stocks were pressed by the US plans to kick them off US stock exchanges. Alibaba has already plunged by 4% in pre-market hours.
While the financial data of McDonald's disappointed, sales jumped.
US retail sales will be out on Thursday, April 15, at 15:30 MT. It is a significant release for traders as it will impact the US dollar.
As the earnings season kicks in, JPMorgan is the first to impress us with the better-than-expected data!
The Reserve Bank of New Zealand will hold a meeting on Wednesday, April 14, at 05:00 MT.