https://nighthawkrottweilers.com/

https://www.chance-encounter.org/

Business

S & P 500 edges lower on Chip, Retail Weakness




(Reuters) – The S & P 500 went down on Friday when gains in energy stocks were offset by a decline in chip and retail companies, following weak results from Nvidia and Nordstrom.

Energy stocks rose 0.6 percent as oil prices were recovered from sharp losses this week on expectations that OPEC and its allies would agree to reduce production next month. [O/R]

Markets opened lower after weak forecasts from Nvidia Corp and supplier of chip equipment Applied Materials Inc, which fell 17.6 percent and 1.9 percent respectively.

The Philadelphia Semiconductor Index was down 1[ads1].9 percent, while the technology stock fell 0.5 percent.

"Technology has been the most overrated this year. Despite being strong American companies and continuing to generate earnings growth, what's priced at the market is almost perfect," said Andrew Lill, Americas chief investment officer in Morningstar Investment Management in Chicago.

Comments from the new federal chairman Richard Clarida about US interest rates approach the central bank's estimates of a neutral interest rate.

Analysts said Clarida's comments indicate that Fed can close to the end of its tightening cycle. The bank usually stops raising interest rates when they hit the neutral level.

Concerns about rising interest rates, increasing corporate earnings and signs of slowdown in global growth have led investors to sell risky assets . After the weakest performance of S & P 500 over seven years in October, the stock continues to strike. [1 9659002] At 11:49 ET, Dow Jones Industrial Average was 1.13 points, at 25.290.40, the S & P 500 was 5.83 points, or 0.21 percent, at 2.724.37 and the Nasdaq Composite was 57, 46 points, or 0.79 percent, at 7,201.57.

In a bad week for retailers, Nordstrom Inc warehouse operator fell 13.8 percent after quarterly sales in the same store at no loss and the Company reported costs from a credit card issue.

Nordstrom was the largest decline on the S & P discretionary index, which fell 1.2 percent.

Various reports on the outcome of talks expected between US President Donald Trump and China's President Xi Jinping next to a G20 summit in Argentina later this month, has kept investors on edge.

Brexit-related uncertainty also led to caution when Britain's Prime Minister Theresa May fought to defend her much criticized draft divorce deals with the EU as talks grew for a vote of confidence in management.

Five of the 11 major S & P sectors were higher, with the tools increasing 0.9 percent when PG & E Corp jumped 34.5 percent after steep loss over the past six days after Bloomberg reported that a regulator said that It would not want the tool to go bankrupt if it were found responsible for the deadly firefalls in northern California.

Decrease in challenges beyond promoters for a 1.44 to 1 ratio on NYSE and a 1.83 to 1 ratio on Nasdaq.

The S & P index recorded 19 new 52-week highs and eight new downturns, while Nasdaq registered 18 new heights and 81 new downturns. 19659002] (Reporting of Sruthi Shankar in Bengaluru; Editing of Shounak Dasgupta)



Source link

Back to top button

mahjong slot

https://covecasualrestaurant.com/

sbobet

https://mascotasipasa.com/

https://americanturfgrass.com/

https://www.revivalpedia.com/

https://clubarribamidland.com/

https://fishkinggrill.com/