US stocks fall in the morning trade amidst US trade concerns UU And China – tech2.org

US stocks fall in the morning trade amidst US trade concerns UU And China



Energy companies helped US actions. UU They will drop modestly in the morning trading on Monday, which added to the market losses of last week. Retailers and other consumer-centric companies also fell, outstripping profits from technology stocks. Investors' fears about the growing tensions in world trade and the weakness of Asian economic data weighed on the market. Oil prices fell.

MAINTENANCE SCORE: The S & P 500 Index fell 7 points, or 0.3 percent, to 2,710 at 11:29 a.m., Eastern Time. The Dow Jones industrial average fell 90 points, or 0.4 percent, to 24,180. The Nasdaq lost 10 points, or 0.1 percent, to 7,500. The Russell 2000 index of small business shares dropped 2 points, or 0.1 percent, to 1,640.

THE APPOINTMENT: "You saw that some of the most price-sensitive stocks weakened a bit at the opening," said JJ Kinahan, chief market strategist at TD Ameritrade. "It's all the news commerce in the headlines."

COMMERCIAL TRAPS: Investors continued to focus on growing tensions in world trade. The European Union warned the Trump administration on Monday that it could impose tariffs on $ 300 billion of US exports in retaliation for Trump's threatened tariffs for European cars. On Sunday, Canada began imposing tariffs on billions of dollars of US goods in response to the Trump administration's duties on Canadian steel and aluminum. Meanwhile, the USA UU They will impose a 25 percent tariff on up to $ 50 billion of Chinese products as of this Friday. In response, China has said it will increase tariffs on US goods worth $ 34 billion.

ENERGY: Trump said over the weekend that Saudi Arabia will increase oil production "perhaps up to 2,000,000 barrels" in response to turbulence in Iran and Venezuela This is higher than the increase of 1 million barrels per day that the OPEC countries have agreed, which causes oil futures to decrease. The reference price for US crude fell 42 cents to $ 73.73 a barrel in New York. Brent crude, used to price international oil prices, fell $ 1.37, or 1.7 percent, to $ 77.86 in London.

The decline in oil prices weighed on energy stocks. Chevron lost 1.5 percent to $ 124.58.

SLUMP RETAILER: Shares in several department store chains decreased. Nordstrom fell 3 percent to $ 50.21, while Macy's lost 2.8 percent to $ 36.40. Kohl's yield dropped 2.3 percent to $ 71.20.

IN PROGRESS: Tesla rose 1.3 percent to $ 347.50 after the automaker said it achieved its goal of producing 5,000 of its Model 3 sedan at a lower price per week by the end of June. [19659002] RETURNING TO PUBLISH, AGAIN: Follow-up actions by computer maker Dell rose 8.3 percent to $ 91.56 after it announced it would go public again after five years as a private company. Meanwhile, shares in VMWare rose 7.4 percent to $ 157.84 on speculation that Dell could buy the rest of the enterprise software company, which will also issue a special dividend for shareholders.

DEPRESSION DATA: China's manufacturing activity slowed down in June. that the economy is cooling because of stricter government controls over loans. Meanwhile, the Bank of Japan "tankan" survey measuring confidence among large-scale manufacturers was 21 points, 3 less than the March survey, which was the first drop in two years.

Pessimistic economic data weighed on the casino operator Wynn Resorts, which has several resorts in Macau. The company dropped the most in the S & P 500 as its shares fell 7.7 percent to $ 154.46.

MEXICAN ELECTION: Voters in Mexico handed a victory in the presidential elections to Andrés Manuel López Obrador, giving him a broad mandate to change the political establishment and government for the poor. The widely expected result could complicate the Trump administration's offer to negotiate a trade agreement with Mexico.

BOND RETURNS: Bond prices barely changed. The 10-year Treasury yield remained at 2.86 percent.

COINS: The dollar fell to 110.79 yen from 110.88 yen on Friday. The euro weakened to $ 1,157 from $ 1,169.

MARKETS ABROAD: Germany's DAX fell 0.3 percent, while France's CAC 40 lost 0.8 percent. The FTSE 100 of Great Britain yielded 0.9 percent. Markets in Asia were overshadowed by weaker-than-expected Chinese manufacturing data and a weakening of Japan's economic outlook. The benchmark Nikkei 225 index of Japan fell 2.2 percent and the Kospi of South Korea fell 2.4 percent. The S & P / ASX 200 of Australia lost 0.3 percent. Taiwan's benchmark fell but the South East Asian indices were mixed. The markets of Hong Kong closed for a market holiday.

.


Source link