The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
US stock indices go down by 2.2-2.3%
On Monday, American stock indices finished a sharp decline due to worse than expected data on the American labor market as well as the risks of introducing new duties on the import of goods from China.
Equities of all 30 firms that were presented in the calculation of the Dow Jones Industrial Average found themselves in the red zone. The overall market value of Boeing sank by nearly 1%, Caterpillar slumped by 1.7%.
As reported, the overall number of jobs in the American economy in March went up by 103 thousand, which appears to be the minimum rate since the autumn of 2017.
Meanwhile, the US President Donald Trump instructed to come up with a plan for the introduction of duties on Chinese exports worth $100 billion aside from previous measures. Earlier, the US authorities announced a plan to introduce a 25% duty on China’s exports for a total of about $50 billion a year.
The Chinese authorities responded by announcing their intention to impose duties on American export stuff for the same amount, reporting their readiness to go to the end literally at any cost to protect their trade interests.
The Dow Jones Industrial Average slumped by 2.34% demonstrating a reading of 23932.76.
As for Standard&Poor's 500, it headed south by approximately 2.19% coming up with 2604.47.
Nasdaq Composite inched down 2.28% ending up with 6915.11.
The shares of the software developer Salesforce.com headed south 2.5% after the company confirmed its intention to place bonds for $2.5 billion with the aim of financing the purchase of competitor Mulesoft for $6.5 billion.
The capitalization of Nvidia, which also manufactures microchips, went down by about 0.8%. By the way, Citron Research experts told they expect the company's shares to dive below $ 200 in the near future.
On Wednesday, September 22, Microsoft will be holding a product launch. The event starts at 18:00 GTM + 3.
Every year in early autumn Apple holds its event where it presents new iPhones, Apple Watches, and iPads. This year wasn’t an exclusion. But yesterday’s presentation didn’t result in Apple stock growth, and here’s why.
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.