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Home / Business / Stock Market News: October 8, 2019

Stock Market News: October 8, 2019



All three major indices fell by more than 1% on Tuesday, increasing Monday's downturn as investors continued to monitor escalating US-China escalation tensions.

<p class = "canvas atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Here the markets are settled at the end of ordinary trading on Tuesday. "data -reactid =" 1

6 "> Here the markets were settled by the end of ordinary trading on Tuesday.

  • S&P 500 (^ GSPC): -1.56%, or 45.77 points

  • Dow (^ DJI): – 1.19%, or 314.45 points

  • Nasdaq (^ IXIC): -1.67% or 132.52 points

  • Crude oil (CL = F): -0.19% to $ 52.63 per barrel

  • Gold (GC = F): + 0.45% to $ 1,511.10 per ounce

<p class = "canvas-atom canvas text Mb (1.0 em) Mb (0) – sm Mt (0.8 cm) – sm" type = "text" content = " On Tuesday afternoon, the & nbsp; Trump administration implemented a travel ban & nbsp; on Chinese officials linked to alleged human rights violations in China's Xianjiang. Shares fell immediately after news from the foreign ministry. Reserve Bank spokesman Jerome Powell said in a speech that the central bank was set to resume balance sheet growth "soon" amid recent volatility in overnight share buybacks. "Data-reactid =" 23 "> On Tuesday afternoon, the Trump administration imposed a ban on travel ki Nazi officials tied to the alleged human rights violations in China's Xianjiang. Shares fell immediately after news from the Foreign Ministry. Just before, shares had mated some losses after federal chairman Jerome Powell in a speech, the central bank was set to resume growth of the balance sheet "soon" amid recent volatility in overnight market buybacks.

<p class = "canvas atomic canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Concerns over US and China trade tensions has escalated again throughout the week Prior to the announcement of the Foreign Ministry's travel ban, the & nbsp; region. "data-reactid =" 24 "> Concerns over trade tensions in the US and China have escalated over the week. Prior to the announcement of the Foreign Office travel ban, the Trump administration added eight Chinese companies and 20 Chinese public security agencies to the US blacklist, over allegations that the organizations were involved in human rights violations in China's Xinjiang region.

<p class = "canvas atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Two companies on the list include video surveillance companies Hikvision and Dahua Technology. US chip makers took a big hit on the announcement with shares of Ambarella ( AMBA ) dropping more than 10% on Monday morning. Ambarella makes cameras and surveillance equipment and does business with Hikvision "It is not clear how much of Ambarella's revenue comes from Hikvision business, but management has previously warned that intensifying trade tensions creates an uncertain business environment and that it is likely to have a negative impact on business." 25 "> Two companies on the list include video surveillance companies Hikvision and Dahua Technology. US chip makers hit a big hit with the announcement, with shares in Ambarella (AMBA) falling more than 10% ma tomorrow morning. Ambarella makes processors for cameras and surveillance equipment and does not operate with Hikvision. It is not clear how much of Ambarella's revenue comes from Hikvision business, but management warned earlier that intensifying trade tensions creates an uncertain business environment and that it is likely to have a negative impact on business.

<p class = "canvas atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " China has indicated that I t intends to strike back Asked whether China intends to retaliate against the US blacklist, Geng Shuang, China's foreign ministry spokesman, told reporters to "stay up to date." Shuang also denied human rights violations He also said that the United States should immediately correct its mistakes and stop interfering with China's internal affairs. "Data-reactid =" 26 "> China has indicated its intention to strike back. Asked whether China intends to retaliate against the United States or not blacklist, Geng Shuang, China's foreign ministry spokesman, told reporters to "stay updated." Shuang also denied human rights violations in Xinjiang. He also said that the United States should immediately correct its mistake and stop interfering with China's internal affairs.

The rising tensions are coming as high-level US and China trade dealers meet in Washington at the end of this week. As of now, it is still expected that the trade negotiations will take place as planned.

Traders work on the floor of the New York Stock Exchange (NYSE) in New York. REUTERS / Brendan McDermid

<h2 class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " STOCKS: Boeing invests $ 20 million in Virgin Galactic; Domino's Pizza rumbles on revenue "data-reactid =" 39 "> STOCKS: Boeing invests $ 20 million in Virgin Galactic; Domino's Pizza Thumbs on Revenue

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Shares of Boeing industrial behemoth ( BA ) were lower on Tuesday after the company announced that it would invest $ 20 million for a minority stake in Virgin Galactic . & Nbsp; In a joint statement the companies stated that the strategic partnership will allow them to "collaborate to expand commercial space access and transform global travel technologies." "Data-reactid =" 40 "> Shares in Boeing's industrial behemoth (BA) were lower Tuesday after the company announced it would invest $ 20 million for a minority stake in Virgin Galactic. In a joint statement, the companies said the strategic partnership will allow them to "work together to expand access to commercial space and transform global travel technologies."

"Boe's strategic investment facilitates our efforts to commercialize space and expand consumer access to safe, efficient and environmentally responsible new modes of transport," said Brian Schettler, Boeing HorizonX Ventures CEO, in a statement. "Our work with Virgin Galactic and others, will help unlock the future of space travel and high-speed mobility. "

<p class =" canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8 cm) – sm " type = "text" content = "This investment comes while Boeing is still tackling fallout from its 737 MAX jets. Most recently, disagreements between US and European regulators threatened to delay the return of 737 MAX, and a union representing Southwest Airlines ( LUV ) pilots sued Boeing. The pilots claim that Boeing crashed the 737 MAX jet and neglected to share key information about a feature that contributed to the fatal accidents. data-reactid = "42"> This investment comes as Boeing tackles continued fallout from its 737 MAX jets. Most recently, disagreements between US and European regulators threatened to delay the return of 737 MAX further, and a union representing Southwest Airlines (LUV) pilots sued Boeing. The pilots claim that Boeing crashed the 737 MAX jet and neglected to share key information about a feature that contributed to the fatal accidents.

<p class = "canvas atom canvas text Mb (1.0em) Mb (0) –sm Mt (0.8 em) – sm" type = "text" content = "Domino's Pizza ( DPZ ) shares reversed previous losses and rose 4% on Tuesday after the & nbsp; pizza chain reported missing the top and bottom line and weaker-than-expected sales growth in the same store both in the US and internationally . "data-reactid =" 43 "> Domino's Pizza (DPZ) shares reversed previous losses and rose 4% Tuesday after the pizza chain reported a miss of top and bottom lines and weaker than expected sales growth in the same store both in US and international.

The pizza giant missed US expectations of sales growth in the same store for the fourth quarter in a row as competition in the fast-food kitchen continues to heat up. Domino's has also updated its long-term guidance and now expects US same stores to grow between 7% and 10% over the next two to three years. It had previously expected sales growth in the same store between 8% and 12% over a period of three to five years.

Meanwhile, Domino's international sales growth sees between 1% -4% over a two to three year period. Previously, the company expected 3% to 6% sales growth in the same store over the next three to five years.

<h2 class = "canvas atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " ECONOMY: US Producer Prices Fall unexpected in September; Small business optimism drops in September "data-reactid =" 50 "> ECONOMY: US producer prices fall unexpectedly in September; Small business optimism declines in September

The Producer Price Index (PPI) for final demand unexpectedly fell 0.3% in September, missing the economists' estimates of a 0.1% increase. It was the biggest decline in PPI since January. Excluding volatile food, energy and trade, PPI remained unchanged during the month, rising 0.4% in August. The weaker-than-expected PPI data could give the Federal Reserve a better case for cutting prices.

<p class = "canvas atomic canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Sentiment among US small business owners fell 1, 3 points to 101.8 in September, & nbsp; according to The National Federation of Independent Business & Nbsp; (NFIB) Analysts expected a reading of 103.1. Although sentiment is historically high, the fall in September third fell in the last four months NFIB noted that the Uncertainty Index rose 6 points over the last three months. "data-reactid =" 52 "> Sentiment among US small business owners fell 1.3 points to 101.8 in September , according to The National Federation of Independent Business (NFIB). Analysts were expecting a reading of 103.1. Although the stories are high, the sentiment is high, but the decline in September was the third fall in the last four months. NFIB noted that the Uncertainty Index rose by 6 points over the past three months.

<p class = "canvas atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "" As more owners become uncertain, caution will seep into business decisions. In addition to tariff considerations, the Fed's decision to cut interest rates increased, "said NFIB chief economist William Dunkelberg & nbsp; in a statement ." Perhaps the country will actually talk itself into a recession, but not at any time . The persistence of unfilled positions and job search shortages indicate that there is still considerable financial optimism surrounding the Main Street economy. "" Data-reactid = "53"> "When multiple owners become uncertain, caution will seep into business decisions. In addition to tariff considerations, the Fed's decision to cut interest rates increased, said NFIB chief economist William Dunkelberg in a statement. “Maybe the country will actually talk itself into a recession, but not anytime soon. The persistence of unfilled positions and job search shortages indicate that there is still considerable financial optimism surrounding the Main Street economy. "

Yahoo Finance All Markets Summit

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<p class =" canvas- atomic canvas text Mb (1.0em) Mb (0) – sm Mt (0.8 em) – sm "type =" text "content =" Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter: @heidi_chung . "data-reactid =" 68 "> Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter: @heidi_chung .

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " More from Heidi: "data-reactid =" 69 "> More from Heidi:

<p class =" canvas-atom canvas text Mb (1.0 em) Mb (0) – sm Mt (0.8 em) – sm "type =" text "content =" Read the latest stocks and stock markets from Yahoo Finance "data-reactid =" 74 "> Read the latest stocks and stock markets from Yahoo Finance

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