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Shares withdraw, led by tech stocks, as Dow threatens to snap four-day winning streak




U.S. stocks withdrew on Tuesday, led by a sale of momentum-driven technology stocks as investors look forward to the central bank's policy meetings and measure developments on the US-China trade front.

Apple Inc. was expected to be in the middle of its annual launch of new models iPhones later in the day.

How are the most important benchmarks going?

Dow Jones Industrial Average

DJIA, -0.08%

fell 84 points, or 0.3%, to 26,748, while the S&P 500 index

SPX, -0.45%

lost 19 points, or 0.6%, to 2,959. Nasdaq Composite Index

COMP, -0.53%

lost 67 points or 0.8% to 820.

Stocks ended substantially lower in smooth trading on Monday, with the S&P 500 giving up just 0 , 28 points to end at 2,978.43, and ended a three-day victory. However, Dow ended up with a gain of 38.05 points, or 0.1%, of 26,835.51, to extend its winning streak to four sessions. The Nasdaq Composite gave up 15.64 points, or 0.2%, to close at 8,877.44.

However, the shares have been in rebound mode in September, after suffering its second lost month of 2019 in August. The S&P 500 is up 1.1% so far this month, while the Dow has gained 1.3% and he Nasdaq is up 0.7%.

What drives the market

Concerns about the US and Chinese trade conflict appear to have shifted to the back burner for investors after being blamed for unstable market action in August. US Secretary of State Steven Mnuchin told Fox Business on Monday that he is looking at renewed discussions with Beijing as a sign of good faith.

"The United States and China will meet next month, and according to Steven Mnuchin … the United States is prepared to make a deal as long as it is good for the United States," said David Madden, CMC Markets UK market analyst, in a note. "The lack of hostilities between the US and China is likely to keep the stock moving in its upward direction."

Investors also looked at a potential rotation from defensive sectors, including real estate, tools and consumer leaflets to business sectors, including the economy, energy and industry, which have given positive gains Monday and early Tuesday, as opposed to the S&P 500.

Read more : Energy, financial shares hover: Oversold bounce or the beginning of an outbreak? [19659002] Information technology stocks were also under pressure Tuesday, down 1.4%, a day after lawyers for 50 US states announced a survey of Google's "potential monopolistic behavior" on Monday, highlighting regulatory concerns emerge around large technology companies.

by Facebook Inc .

FB, -0.96% ,

Amazon.com Inc. .

AMZN, -0.75% ,

Netflix Inc. .

NFLX, -0.02%

and Google Parents Alphabet Inc .

GOOG, -0.25%

GOOGL, -0.30%

all lost ground Tuesday amid broader sales of momentum-driven growth stocks, as indicated by the 1.9% decline in iShares Edge MSCI USA Momentum Factor exchange traded funds

MTUM, -1.76%

                            
                                  
      
      
      
      
      
      
      
                                        .

The European Central Bank is expected to provide additional monetary stimulus when policy makers meet on Thursday, though some officials have been pushing back against expectations of an aggressive package of measures that combine further interest rate cuts with a new bond buying program.

Read: The ECB's challenge: to push interest rates further into negative territory without destroying eurozone banks

The US National Federation of Independent Business on Tuesday said that optimism for small businesses fell 1.6 points to a seasonally adjusted 103.1 in August, the worst since March.

The rate at which Americans quit their jobs, peaked in July, estimated the Labor Department on Tuesday and suggested that workers were confident in the strength of the labor market. Job openings fell somewhat during the month, while layoffs were at a low level.

Which shares are in focus?

Investors Will View Stocks on Apple

AAPL, -0.22% [19659005] As it holds an annual fall event to roll out new units and provide more information on other elements of the business, including the rapidly growing service segment. Apple is expected to introduce three upgraded iPhone models, as well as new price points, and the launch date for new gaming and video subscriptions it showed in a spring event.

See: Apple iPhone launch event – 5 things to look at

Shares of Ford Motor Co.

F, -2.78%

was down 4.5% in premarket action. Credit rating agency Moody's Investors Service downgraded the automaker's debt rating late Monday to Ba1, the first role of "garbage", or non-investment speculative, from Baa3, citing "significant operating and market challenges" and forecasting "weak earnings and cash generation probably because the company is pursuing a long and costly restructuring plan. ”S&P Global Ratings and Fitch Ratings have a BBB rating on Ford, which is two steps above garbage but has negative outlook. As long as the company has two ratings over garbage, it is eligible to remain in the largest bond indices for investment.

Shares of HD Supply Holdings Inc.

HDS, -6.90%

was down 4.8% in the premarket action after the industrial distribution company reported a second-quarter financial surplus that exceeded expectations, but missed sales, while giving a worse cut for the current quarter.

Stocks in fast food vendor Wendy's

WEN, -12.32%

was down 12% after announcing a $ 20 million plan to serve breakfast nationwide from 2020.

How are other markets doing?

Return on 10-year US Treasury note

TMUBMUSD10Y, + 2.09%

increased to 1.65%.

Stocks traded mixed in Asia overnight, with China CSI 300

000300, -0.34%

falling 0.3%, Hong Kong's Hang Seng Index

HSI, + 0.01%

almost unchanged and Japan's Nikkei 225

NIK, + 0.35%

increasing 0.4%. Stocks rose higher in Europe, with Stoxx Europe

SXXP, + 0.10%

progress 0.1%

In commodity markets the price of crude oil

CLV19, + 1.26%

was up 1.1% to about $ 58.50 per barrel ahead of fresh OPEC forecasts and a meeting on production cuts later this week.

The price of gold

GCZ19, -0.69%

falls 0.5% to $ 1504 per ounce. The American dollar

DXY, + 0.05%

                            
                                  
      
      
      
      
      
      
      
                                        Meanwhile, edged higher toward a basket of their peers.



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