• Analytics
  • News and Tools
  • Market News
  • Major US stock indexes finished trading in negative territory
Major US stock indexes finished trading in negative territory
16.07.2019, 20:09

Major US stock indexes finished trading in negative territory

Major US stock indexes fell moderately, being under pressure from Donald Trump's statements that the United States and China “have a long way to go” to reach a trade agreement. In addition, investors have ambiguously responded to the statements of the three largest US banks.

Statements by the President of the United States questioned the progress in trade negotiations between Washington and Beijing. Trump also added that the US may impose additional tariffs on Chinese imports amounting to $ 325 billion, "if we want." Trump's comments came after China and the United States agreed not to exacerbate trade tensions, trying to resume negotiations.

Market participants also received a block of mixed statistical data. Thus, the report of the Ministry of Commerce showed that retail sales in June increased by 0.4%, which corresponds to the downwardly revised May value. Economists had expected retail sales to grow by 0.1% compared with a 0.5% increase, which was originally reported in the previous month.

At the same time, the Department of Labor said that US import prices fell most strongly in June in 6 months due to lower prices for oil and other goods, suggesting that imported inflation remains restrained. According to the report, import prices fell by 0.9% last month, the biggest decline since December. Economists had forecast a fall in prices by 0.7%. For 12 months to June, import prices fell by 2.0% after declining by 1.1% in May.

Fed data showed that industrial output remained unchanged last month after a 0.4% increase in the previous month. Economists had forecast a 0.1% increase in industrial production in June.

A report by the National Association of Home Builders (NAHB) and Wells Fargo indicated that the mood of home builders in the United States improved slightly as the housing shortage increased. According to the report, the housing market index from the NAHB rose by only 1 point in July, to 65 points. However, the value of the indicator above the level of 50 points indicates favorable sales prospects. Experts expected the index to remain at the level of 64 points.

Most of the components of DOW finished trading in the red (19 out of 30). Intel Corporation (INTC; -1.66%) turned out to be an outsider. The growth leader was Dow Inc. (DOW; + 2.72%).

Most sectors of the S & P recorded a decline. The largest drop was shown by the base materials sector (-0.8%). The industrial goods sector grew the most (+ 0.5%).

At the time of closing:

Dow 27,335.63 -23.53 -0.09%

S & P 500 3,004.04 -10.26 -0.34%

Nasdaq 100 8,222.80 -35.39 -0.43%

© 2000-2020. All rights reserved.

This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Live Chat E-mail
Choose your language / location