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.

Similar

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

Increased Volatility is Coming
Increased Volatility is Coming

The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.

Market Crash Incoming?
Market Crash Incoming?

This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.

What Currency Will Overperform?
What Currency Will Overperform?

S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.

Deposit with your local payment systems

Feel the Team Spirit

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.

Callback

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!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

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