Market news

Show news:


18.07.2019 04:18

Major US stock indexes finished trading in negative territory

Major US stock indexes fell moderately amid mixed corporate reports and reports that negotiations between the US and China were stumped, as the US is trying to figure out what to do with Huawei.

Bank of America (BAC) reported quarterly earnings of $ 0.74 per share, which was $ 0.03 above the average forecast. Bank revenue coincided with forecasts. However, the financial director warned that lower rates would have a negative impact on the growth of net interest income.

Meanwhile, CSX Corp. (CSX) reported weaker than analysts predicted quarterly results. In addition, the company said they expect annual revenues to fall by 1-2%. This put pressure on transport company stocks.

Both earnings and revenue of United Airlines (UAL) were better than analysts had expected. The company also increased its share repurchase program by $ 3 billion.

The focus of market participants was also disappointing data on the US housing market. The Commerce Department reported that housing construction fell in July for the second month in a row, and the number of building permits dropped to a 2-year low, indicating that the housing market continues to experience difficulties despite the decline in mortgage rates. Housing construction fell by 0.9% to a seasonally adjusted annual rate of 1,253 million units last month, as the recovery in single-family housing construction was offset by a fall in multi-family housing construction. Economists had forecast that bookmarks for new homes would fall to 1.261 million units. The construction of single-family homes, which account for the largest share of the housing market, grew by 3.5% to 847,000 units in June, which partially offset the sharp drop in May. Building permits fell 6.1% to 1,220 million units in June, the lowest level since May 2017.

A certain influence on the course of trading was rendered by the Fed's “Beige Book” report. The paper reported that economic activity continued to grow, despite continuing concerns about trade. In 12 federal districts, they reported moderate economic growth at the beginning of the summer, with many companies expressing optimism about the future, although they are closely following ongoing trade negotiations. "In general, the outlook for the coming months was positive, while moderate growth is expected to continue, despite widespread concerns about possible negative effects from trade uncertainty," the report said.

Most of the components of DOW recorded a decline (23 of 30). Walgreens Boots Alliance (WBA; -2.31%) was an outsider. The growth leader was the shares of The Boeing Co. (BA; + 1.64%).

Most sectors of the S & P finished trading in the red. The largest decline was in the industrial goods sector (-1.3%). The utility sector grew the most (+ 0.5%).

At the time of closing:

Dow 27,220.13 -115.50 -0.42%

S & P 500 2,984.42  -19.62 -0.65%

Nasdaq 100 8,185.21 -37.59 -0.46%


Keep up with latest Forex market news updates: Currencies, central banks, economic indicators for oil and gold trading – all you need to work effectively on Forex.

Market focus

  • German producer prices fell more than forecast in October
  • ECB's Lane rules out eurozone recession, says recovery in next year or two
  • Excessive risk-taking and falling bank profitability cloud euro zone’s growth - ECB
  • Bundesbank: Domestic economy will probably continue to provide momentum
November 2019
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002
Mon
Tue
Wed
Thu
Fri
Sat
Sun
18
19
20
21
22
23
24
25
26
27
28
29
30

Forex is open 24 hours a day, 5 days a week (except national holidays), and it can be broken up to the following four regional markets: Australia and Oceania, Asia, Europe, and America. A Forex trading session opens at 23:00 GMT on Sunday in Japan and closes at 22:00 GMT on Friday in the USA.

 
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Pacific Wellington 19:00 04:00 22:00 07:00 22:00 07:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Sydney 21:00 06:00 00:00 09:00 00:00 09:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Asian Tokyo 23:00 08:00 02:00 11:00 02:00 11:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Hong Kong, Singapore 00:00 09:00 03:00 12:00 03:00 12:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
European Frankfurt, Zurich, Paris 06:00 15:00 09:00 18:00 9:00 18:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenCloseе
London 07:00 16:00 10:00 19:00 10:00 19:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
American New York 12:00 21:00 15:00 00:00 15:00 00:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Chicago 13:00 22:00 16:00 01:00 16:00 01:00