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NEW YORK (Dow Jones) – US banks have already recorded significant losses on Friday after a day of recovery. The decline was caused by Internet and technological actions after Amazon's quarterly badges and Google's mother, Alphabet, were disappointed. In addition, the unresolved trade dispute between the United States and China was still mentioned as the main burden factor.
However, the indices accounted for a large part of their losses, sometimes more than 2% in the Dow Jones and nearly 3% in the S & P 500 and Nasdaq Composite until the end of the negotiations. Sometimes, the violent levies were used for the purchase he was called.
At closing, the Dow Jones index was down 1.2% at 24,688 points. The S & P 500 closed at 1.7%, while the Nasdaq composite lost 2.1%. The trading volume of the high-volatility meeting was again above average with 1.12 (Thursday: 1.07) billion shares. 831 winners lost 2,162 losers. Defenseless closed 83 titles.
Current economic data suggest that the positive picture of the US economy shows its first cracks. GDP growth slowed in the third quarter, but not as much as frustrated. At the same time, however, inflationary pressures seem to be easing somewhat, as evidenced by the decline in the ECP deflator which weakens expectations. "It's almost the scenario of Goldilocks," says a strategist.
However, an alarm sign could be that consumer sentiment in the United States has faded in October. The corresponding index calculated at the University of Michigan was surprisingly clear in this month's second survey. This could mean that private consumption, which accounts for about two-thirds of US economic output, is declining. With retail sales averaging 4.7%, retail sales were by far the weakest sector. Here too, the collapse on the part of the Amazon in response to the group's figures and outlook weighed. In addition, the sector has gone well in recent days.
The conflict in China and the burden of commercial relations
According to the traders, this gloomy sentiment has also led the United States to refuse to resume talks in the trade dispute with China until Beijing makes concrete proposals to put an end to the US accusations of unfair technology transfer. etc. This gave hope for an obstacle that both sides could approach in late November if the US president Donald Trump and Chinese Premier Li Keqiang will meet on the sidelines of the G20 summit in Buenos Aires. Instead, now threatened new fines from the United States, as Trump has already suggested, he was.
Another recent trigger of losses, in addition to headlines in China, has provided the business cards of some tech favorites. Some British people were of the opinion that the disappointment with the quarterly figures should be a welcome reason for sales. "First of all, the results of Amazon and Google were disappointing last night," said Mohammed Kazmi, portfolio manager at Union Bancaire Privee, citing bullish US equity trades from the day before. . "Both have missed sales forecasts and are looking for reasons to justify sales, given the nervousness of the market," Kazmi said.
The Amazon price fell 7.8%. Despite traditionally high investments in the third quarter, Amazon has more than doubled its profits, but has been disappointed by both its earnings and its prospects.
Alphabet, Google's parent company, continued to perform well in the third quarter, driven by strong advertising revenue and a 37% increase in net income. Analysts were expecting less. Nevertheless, the price fell by 1.8%, according to market experts, as sales rose 21%, but a little less than a year ago, with 24%.
Intel's share price rose 3.1% against the negative trend of the sector. The chip maker had exceeded expectations and raised its guidance for the year.
At the same time, badysts are wondering whether Internet and technology stocks, long considered immune to the widespread global fear of weaker economic growth, will continue to grow steadily. Zweifel announced Friday the investment bank Susquehanna. Analysts badessed decision-makers against planned investments and concluded that corporate clients spend less. Susquehanna therefore downgraded the stock of the NetApp data storage specialist and the names of the chip chip companies Micron Technology, Applied Materials, ASML Holding and Lam Research to "Neutral" of "Positive". The stock of the record maker Seagate has been reduced to "Negative" from "Neutral". Seagate has dropped about 9%. Shares of other companies lost between 0.9 and 5.8%.
The consumer goods company Colgate-Palmolive, despite higher prices in the last quarter, was lower than in the same period last year. The company expects development to continue. The stock fell 6.6%.
Goodyear tire manufacturer's shares fell 1.2%. The company did not meet expectations in its third quarter report and also reduced its earnings guidance.
Mattel moderated by 2.7 percent. The toy maker was back in the dark, but missed the forecast. The instant messenger service operator Snapchat Although in the third quarter, 43% more were implemented, but at the same time lost users. The Snap action slid 10.2%. Snap continues to write losses.
On the foreign exchange market, the euro rallied after a temporary postponement that fell to 1.1335 at daily lows. In late trade with the United States, the common currency was about 1.1410 USD. In the hope that the trade war will drag out even longer, destinations such as the yen and the franc have also been sought after.
In the bond market, prices rose with the weakness of the stock market. Economic growth in the United States has only briefly affected the market. US 10-year Treasury yields dropped 4 basis points to 3.08%.
Gold prices rose after GDP data rose, troy ounces of precious metals rose 0.2% to $ 1,235. In addition to the weakness of the stock market and the search for presumed security, the slight easing of inflationary pressures in the United States, which somewhat dampened speculation on interest rates, was also beneficial.
Prices rebounded after the dollar fell against its peak of the day: the WTI US Lightweight rose 0.4% to € 67.59 and the Brent World benchmark, 0.9% at $ 77.62. In the United States, this week again, thanks to more investments promoted than the previous week, the players did not care. Baker Hughes, a company in the sector, said the number of "active" installations had increased by two to 875. This is the highest level since March 2015 and proves that the number of "active" installations has increased to 875. US investment has become more attractive after the WTI price hit $ 76 a barrel in early October, its highest level in four years.
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INDEX last + / -% absolute + / -% YTD
DJIA 24.688.31 -1.19 -296.24 -0.13
S & P 500 2.658.69 -1.73 -46.88 -0.56
Nasdaq Comp. 7,167.21 -2.07 -151.12 3.82
Nasdaq-100 6 852.40 -2.34 -163.99 7.13
US bonds
Runtime Act. Yield in bp up to the previous day Yield yesterday +/- Bp since one year
2 years 2.80 -4.4 2.85 160.0
5 years 2.91 -5.1 2.96 98.3
7 years 3.00 -4.4 3.04 75.2
10 years 3.08 -4.1 3.12 63.3
30 years old 3.32 -2.9 3.35 24.9
DEVISEN last + / -% Friday, 8:31, Thursday, 17:28% since the beginning of the year
1,1417 EUR / USD + 0.37% 1,136 1,1370 -5.0%
EUR / JPY 127.70 -0.10% 127.59 128.06 -5.6%
EUR / CHF 1.1381 + 0.12% 1,1367 1,1386 -2.8%
0.8895 EUR / GBP + 0.26% 0.8870 0.8871 + 0.1%
USD / JPY 111.85 -0.48% 112.16 112.63 -0.7%
GBP / USD 1.2836 + 0.12% 1.2819 1.2817 -5.0%
Bitcoin
BTC / USD 6,471.56 -0.1% 6,464.72 6,473.30 -52.6%
ROHOEL last VT-Settl. + / -% +/- USD% YTD
WTI / Nymex 67.65 67.33 + 0.5% 0.32 + 16.5%
Brent / ICE 77.80 76.89 + 1.2% 0.91 + 22.6%
METALS the last day before + / -% +/- USD% YTD
Gold (Spot) 1.233,45 1.232.16 + 0.1% +1.30 -5.3%
Money (spot) 14.70 14.65 + 0.4% + 0.05 -13.2%
(MORE TO FOLLOW) Dow Jones Newswires
October 26, 2018 4:11 pm (8:11 pm GMT)
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