The so-called “stock market bloodbath” has continued on Friday with major indices falling down to the lows of the last October. What's going on?
Wall Street is braced for flat start
On Monday, American stock index futures stood still, having reached a closing maximum in the previous trading session due to the fact that market participants awaited a fresh pack of earnings reports and sentiment was backed by positive consumer spending data.
According to a Commerce Department report, in March, domestic consumer spending ascended by the most for over 9-1/2 years, although price pressures were still muted.
Without energy and food, the core personal consumption expenditures price index was intact, sticking with 0.1% last month.
The Federal Open Market Committee is going to uncover its interest rate verdict at the end of a two-day gathering, which will start on Tuesday.
Moreover, up to 160 S&P 500 businesses, including Apple and Alphabet are expected to post their quarterly outcomes.
Experts currently expect gains of S&P 500 companies to slump by 0.3%, which appears to be an abrupt improvement from a 2% dive estimated at the beginning of April.
As trade negotiations enter their last leg, American negotiators make their way to China on Tuesday to negotiate details to conclude the protracted tariff clash between the two leading economies.
Expectations for a trade resolution as well as a dovish Fed stance has sparked a soar in shares from a dive late last year, bringing the S&P 500 index 0.04% down of its all-time maximum of 2,940.91 points reached in September.
ET, Dow e-minis rallied by 0.03%. Additionally, S&P 500 e-minis were intact, while Nasdaq 100 e-minis tumbled by 0.02%.
Among shares, Walt Disney managed to ascend by 1.5%.
Besides this, Boeing slumped by 0.9%, while Alphabet Inc ascended by 0.2%.
Besides coronavirus, other news has been driving the stocks of Apple, Wallmart and General Motors to the lower levels.
Will coronavirus continue keeping the markets in fear? What releases should we wait for? Find out in the news!
The British pound has increased in value over the course of the past week in line with an ongoing improvement in investor sentiment.
Economic activity in service sector in the Euro zone and the UK is on its lowest rates since 2009.
Jerome Powell made a rare appearance in the public media this Thursday. What did he bring to the audience?