Wall Street heads south on dismal earnings and worsening trade tensions

Wall Street heads south on dismal earnings and worsening trade tensions

On Thursday, American stock indexes slumped because a bunch of weak quarterly reports impacted a firm earnings season, while trade tensions escalated on news the EU might retaliate if America dares to impose duties on European vehicles.

Worries regarding the impact of duties have been soaring among manufacturers in every one of the Fed’s 12 districts, as a major bank report published on Wednesday uncovered.

Nevertheless, on CNBC Peter Navarro, White House trade adviser had tariff-related worries downplayed, telling that the current US trade strategy with China, including new duties, isn’t as fatal as many illustrate.

The Consumer Staples sector headed south by 0.9%, thus demonstrating the worst outcome among the 11 crucial S&P sectors.

On the sector the losses were led by a 6.3% sag in the equities of cigarette producer Philip Morris after this company had its full-year profit estimate lowered. The competitor Altria went down by 3.3%.

EBay edged down by 9.6%, having reported its underwhelming outcomes and forecast.

In addition to this, AmEx edged down 2.8% after the credit card company told that expenses ascended because of higher spending on the rewards program.

The Dow Jones Industrial Average slumped by 0.38% being worth 25,103.11. Additionally, the S&P 500 inched down by 0.35% hitting 2,805.86. As for the Nasdaq Composite, it dipped by 0.29% demonstrating an outcome of 7,831.84.

IBM happened to be a bright spot, adding 4% right after its outcomes topped forecasts because of surge in higher-margin businesses including cloud computing and cyber security.

Aside from that Comcast managed to soar by 3.4% having dropped pursuit of a bunch of media assets, which are owned by Twenty-First Century Fox Inc.

The S&P index demonstrated 12 fresh 52-week maximums as well as one new minimum.


Apple event surprised traders
Apple event surprised traders

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.

Latest news

News for The Week
News for The Week

US stock markets started falling, while the US dollar is rising. What to expect from

Fed’s Rate Pause and UK Inflation Slows
Fed’s Rate Pause and UK Inflation Slows

Today's main event for the markets is the FOMC Interest Rate Decision, where the US regulator is widely expected to keep the interest rate at the same level of 5.5%.

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

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