Major US stock indices predominantly declined, as the collapse of the commodity sector leveled a positive from the growth of the technology sector and hopes for a deal between the US and China.
Oil prices fell by 8%, while WTI crude futures reached a minimum since mid-November 2017 due to lingering concerns about weakening global demand, oversupply and sales among other asset classes, including stocks.
Gradually, the focus of investors is shifting to inflation data for the US, which will be released tomorrow. Recall the CPI was soft in September. General inflation was constrained by falling energy prices, but a flat (close to negative) value of food prices also put pressure on the general price increase. With the exception of food and energy, core inflation was also soft. However, in this case, the weakness, apparently, was associated with the prices of goods, in particular for vehicles. According to forecasts, in October, the consumer price index rose by 0.3%.
Most of the components of DOW finished trading in the red (18 out of 30). The outsider was Exxon Mobil Corporation (XOM, -2.29%). The growth leader was the shares of Intel Corporation (INTC, + 1.59%).
Most of the S & P sectors have shown a boost. The financial sector grew the most (+ 0.5%). The largest decline was in the commodity sector (-2.1%).
At the time of closing:
Dow 25,286.49 -100.69 -0.40%
S&P 500 2,722.18 -4.04 -0.15%
Nasdaq 100 7,200.88 +0.01 +0.00%
U.S. stock-index futures rose moderately on Tuesday, helped by strong quarterly results from Home Depot (HD) and reports of renewed trade talks between the U.S. and China.
Global Stocks:
Index/commodity | Last | Today's Change, points | Today's Change, % |
Nikkei | 21,810.52 | -459.36 | -2.06% |
Hang Seng | 25,792.87 | +159.69 | +0.62% |
Shanghai | 2,654.88 | +24.36 | +0.93% |
S&P/ASX | 5,834.20 | -107.10 | -1.80% |
FTSE | 7,051.37 | -1.71 | -0.02% |
CAC | 5,069.86 | +10.77 | +0.21% |
DAX | 11,384.22 | +58.78 | +0.52% |
Crude | $58.98 | -1.59% | |
Gold | $1,202.20 | -0.11% |
(company / ticker / price / change ($/%) / volume)
3M Co | MMM | 198.59 | 1.55(0.79%) | 654 |
ALCOA INC. | AA | 33.93 | 0.20(0.59%) | 4000 |
Amazon.com Inc., NASDAQ | AMZN | 1,646.00 | 9.15(0.56%) | 85478 |
Apple Inc. | AAPL | 191.95 | -2.22(-1.14%) | 559662 |
AT&T Inc | T | 30.87 | 0.09(0.29%) | 15597 |
Barrick Gold Corporation, NYSE | ABX | 12.67 | 0.09(0.72%) | 113000 |
Boeing Co | BA | 353.71 | -3.32(-0.93%) | 36778 |
Caterpillar Inc | CAT | 125.9 | 0.90(0.72%) | 11936 |
Cisco Systems Inc | CSCO | 45.9 | 0.28(0.61%) | 16772 |
Citigroup Inc., NYSE | C | 64.25 | 0.04(0.06%) | 34095 |
Exxon Mobil Corp | XOM | 80 | 0.17(0.21%) | 6369 |
Facebook, Inc. | FB | 141.99 | 0.44(0.31%) | 64196 |
Ford Motor Co. | F | 9.53 | 0.04(0.42%) | 57280 |
Freeport-McMoRan Copper & Gold Inc., NYSE | FCX | 11.28 | 0.12(1.08%) | 3000 |
General Electric Co | GE | 8.05 | 0.06(0.75%) | 641499 |
General Motors Company, NYSE | GM | 35.82 | 0.13(0.36%) | 975 |
Goldman Sachs | GS | 206 | -0.05(-0.02%) | 78168 |
Google Inc. | GOOG | 1,045.50 | 6.87(0.66%) | 7765 |
Hewlett-Packard Co. | HPQ | 24.2 | 0.21(0.88%) | 5560 |
Home Depot Inc | HD | 181.52 | 2.09(1.16%) | 244522 |
Intel Corp | INTC | 46.95 | 0.30(0.64%) | 33418 |
International Business Machines Co... | IBM | 121.25 | 0.35(0.29%) | 3646 |
JPMorgan Chase and Co | JPM | 109.35 | 0.40(0.37%) | 19970 |
McDonald's Corp | MCD | 184.6 | 0.23(0.12%) | 1016 |
Merck & Co Inc | MRK | 74.99 | 0.30(0.40%) | 300 |
Microsoft Corp | MSFT | 107.41 | 0.54(0.51%) | 46474 |
Nike | NKE | 75.11 | 0.01(0.01%) | 356 |
Pfizer Inc | PFE | 44.33 | 0.22(0.50%) | 464 |
Procter & Gamble Co | PG | 92.32 | -0.38(-0.41%) | 2565 |
Starbucks Corporation, NASDAQ | SBUX | 68.09 | 0.18(0.27%) | 3711 |
Tesla Motors, Inc., NASDAQ | TSLA | 333.6 | 2.32(0.70%) | 66505 |
The Coca-Cola Co | KO | 49.81 | -0.06(-0.12%) | 5594 |
Twitter, Inc., NYSE | TWTR | 32.16 | 0.15(0.47%) | 38968 |
United Technologies Corp | UTX | 128.9 | 0.60(0.47%) | 400 |
Verizon Communications Inc | VZ | 58.98 | 0.26(0.44%) | 2046 |
Visa | V | 140.35 | 0.63(0.45%) | 7529 |
Wal-Mart Stores Inc | WMT | 103.75 | -0.12(-0.12%) | 21274 |
Walt Disney Co | DIS | 117.03 | 0.33(0.28%) | 4829 |
Yandex N.V., NASDAQ | YNDX | 28.32 | 0.58(2.09%) | 10690 |
Apple (AAPL) target lowered to $209 from $222 at Goldman Sachs
Apple (AAPL) target lowered to $266 from $270 at JPMorgan
Tyson Foods Inc (TSN) reported Q4 FY 2018 earnings of $1.58 per share (versus $1.43 in Q4 FY 2017), beating analysts’ consensus estimate of $1.38.
The company’s quarterly revenues amounted to $9.999 bln (-1.4% y/y), missing analysts’ consensus estimate of $10.297 bln.
The company also issued in-line guidance for FY 2019, projecting EPS of $5.75-6.10 (versus analysts’ consensus estimate of $6.06) and revenues of $41 bln (versus analysts’ consensus estimate of $41.36 bln).
TSN fell to $59.25 (-3.83%) in pre-market trading.
Home Depot Inc (HD) reported Q3 FY 2018 earnings of $2.51 per share (versus $1.84 in Q3 FY 2017), beating analysts’ consensus estimate of $2.27.
The company’s quarterly revenues amounted to $26.302 bln (+5.1% y/y), generally in line with analysts’ consensus estimate of $26.231 bln.
The company also issued raised guidance for FY 2018, projecting EPS of $9.75 (compared to its prior guidance of $9.42 and analysts’ consensus estimate of $9.58) and revenues growth rate of +7.2% y/y to $108 bln (compared to its prior guidance of +7.0% y/y and analysts’ consensus estimate of $108.28 bln).
HD rose to $182.47 (+1.69%) in pre-market trading.
A negative start to trading in the stock markets of Europe is expected, following basically similar tones in Asian funds markets.
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