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The financial statements of a number of issuers go beyond the consensus
REPUBLICA.CO.ID, NEW YORK – Wall Street stocks are slightly lower at the close of trading Friday (Saturday morning GMT). Indeed, growing US trade concerns have weakened the earnings reporting of a number of issuers.
President Donald Trump's latest tariff threat against China outweighed some strong Q2 results for issuers. One of the strongest is by Microsoft.
The Dow Jones Industrial Average lost 6.38 points, or 0.03%, to end at 25,058.12 points. The S & P 500 lost 2.66 points, or 0.09%, to close at 2,801.83 points. The Nasdaq Composite Index finished down 5.10 points or 0.07%, to 7,820.20 points.
The Dow Jones Industrial Average recorded its third consecutive weekly gain, while the S & P 500 also rose for a third consecutive week.
Microsoft shares reached a record high and ended the session with a gain of 1.8% thanks to solid quarterly results. The company has trimmed the race with Apple Inc. and Amazon.com in a race worth $ 1 trillion in market value. Progress Microsoft is providing the biggest support for the S & P 500 and Nasdaq.
Trump says he is ready to impose tariffs on all Chinese imports worth $ 500 billion. around the world. "I think there's a watershed on the road," said Robert Pavlik, chief investment strategist at SlateStone Wealth LLC in New York.
One party believes that trade disputes will only lead to a global recession. On the other hand, believe that the president is trying to get negotiations from another party.
Trump also repeated his criticisms of the planned increase in the Fed's interest rate expected. He wrote on his Twitter account that the tightening of US monetary policy would reduce US trade profits.
As the second quarter earnings season began to improve, badysts' estimates improved. S & P 500 corporate profits are now expected to rise 22.0% in the second quarter, up from 20.7% on July 1, according to Thomson Reuters I / B / E / S.
Up to now , 87 S & P 500 companies reported profits. 83.9% of them beat consensus estimates
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