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US stocks were down on Wednesday as investors continued to weigh more and more the impact of escalating tension between the United States and China.
<p class = "canvas-atom-canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The S & P 500 (^ GSPC) slipped 0.28%, or 8.09 points, at 10:46 am. The Dow (DJIlost 0.33%, or 84.43 points, while the Nasdaq (^ IXIC) lost 0.33%, or 25.1 points. "data-reactid =" 16 "> The S & P 500 Index (^ GSPC) fell by 0.28%, or 8.09 points, at 10:46 am (ET) The Dow (^ DJI) lost 0.33%, or 84.43 points, while the Nasdaq (^ IXIC) lost 0.33%, or 25.1 points.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The United States plans to ban until 39, five Chinese technology companies to do business with US companies, & nbsp;Bloomberg News reported on Tuesday, citing anonymous sources familiar with the subject. The Trump administration would be concerned about the alleged role of these companies in ethnic repression in western China, as well as the opportunity for companies to use their technology to spy on. "Data-reactid =" 17 "> The United States is planning to ban Bloomberg News reported Tuesday that the Trump administration was worried about the alleged role of these companies in the ethnic crackdown in the United States. West China, as well as the possibility of commercial relations with US companies for companies to use their technology for spying.
<p class = "canvas-atom-text-canvas Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The application of the ban would be probably considered as an attack against the Chinese technology sector continued after the Trump administration last week blacklisted the Chinese Huawei who did not do business with US companies, invoking national security concerns, which had sent shares of US chip makers, including Qualcomm (QCOM), Intel (INTC) and Qorvo (QRVO) below, investors considering the damage to companies that consider Huawei as a customer of their supply chain. "data-reactid =" 18 "> The implementation of the ban would probably be considered a new assault against the Chinese technology sector, after the Trump Last week, the Chinese government blacklisted the Chinese Huawei, who had been doing business with US firms, citing national security concerns, Huawei is one of the customers in their supply chains.
Elsewhere, investors took into account comments from Federal Reserve officials who spoke throughout the week and waited for the central bank's report to be released from its last meeting at 2 pm AND.
<p class = "canvas-atom-canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The most recent & nbsp;meeting ending early May& nbsp; took place before the stock market volatility skyrocketed after the increase in the US $ 200 billion tariff rate on US goods. Since then, the markets have anticipated an increased likelihood of interest rate cuts by the end of the year, with & nbsp;The FedWatch tool closely monitored by the CME group reflecting a probability of about 70% of at least a reduction by the December Fed meeting on Tuesday morning. "Data-reactid =" 20 "> The last meeting, which ended in early May, took place before the acceleration of stock market volatility.After the United States had increased the rights of China's customs trade for $ 200 billion Since then, markets are more likely to look to lower interest rates by the end of the year, the FedWatch tool being closely monitored, reflecting a least a cut by the December Fed meeting on Tuesday morning.
On Wednesday, St. Louis Fed President James Bullard said the Fed may need to lower the benchmark interest rate to help bring inflation levels closer to desired levels. Inflation has always been below the Fed's 2% target, and it has recently been shown to have followed the 1.6% mark in March, according to the Fed's basic consumer spending indicator. the Fed. Lower interest rates would help encourage borrowing and then consumer spending, pushing inflation upward.
<p class = "canvas-atom-canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "" A downward adjustment of the key rate even with Relatively good performance Real economic performance can help maintain the credibility of the FOMC's inflation target, "said Bullard in a & nbsp;delivered presentation& nbsp; in Hong Kong. "Such a change in key rates could become a more attractive option if inflation data continues to disappoint." "Data-reactid =" 22 ">" A downward adjustment of key rates even with relatively good economic performance could help maintain the credibility of Bullard's goal of reaching the future in terms of inflation, said Bullard in a presentation in Hong Kong. Such a change in key rates could become a more attractive option if inflation data continues to disappoint.
Treasury yields were generally down on Wednesday before the release of the minutes of the Fed meeting. The yield on the 10-year Treasury bill, which is moving against the price, fell 0.3 basis points to 2.423% on Wednesday morning.
STOCKS
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Lowe's (LOW) reduced its profit forecast for 2019 and missed Wall Street expectations in the first quarter due to increasing pressure on costs. Home Improvement Retailer & nbsp;adjusted earnings delivered of $ 1.22 per share, less than the $ 1.33 expected per share, while net sales of $ 17.74 billion exceeded expectations. "data-reactid =" 25 ">Lowe's (LOW) reduced its profit forecast for 2019 and missed Wall Street expectations in the first quarter due to increasing pressure on costs. The home improvement retailer posted adjusted earnings of $ 1.22 per share, lower than the expected $ 1.33, while net sales of $ 17.74 billion exceeded expectations.
Chief Executive Marvin Ellison said cost pressures and "inefficient legacy pricing tools" weighed on margins and profits in the quarter ending in May, but the company was struggling to keep pace. To mitigate these impacts in the coming quarters.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Nordstrom (JWN) lack of consensus on the results delivered after the bell Tuesday. The company has trimmed its earnings guidance for the full year and now sees adjusted EPS between $ 3.25 and $ 3.65 for fiscal year, down from the range. previous from 3.65 to 3.90 USD. "Data-reactid =" 27 ">Nordstrom (JWN) lack of consensus on the results delivered after the bell Tuesday. The company has trimmed its earnings guidance for the full year and now expects adjusted EPS of between $ 3.25 and $ 3.65 for the year, compared with $ 3.65 to $ 3.90 previously.
Nordstrom has raised "runtime errors" with customers early in the year for mixed results and plans to foster improvement by resolving issues related to launching its enhanced loyalty program; invest more in digital marketing; and rebalancing its product mix to better meet customer expectations. "
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Qualcomm (QCOM) has been deemed to have unlawfully removed Competition in the cellphone chip market and excessive licensing fees, a federal judge ruled late Tuesday. The judge's decision is lined up on the side of the Federal Trade Commission, which has initiated an antitrust lawsuit against Qualcomm in early 2017. Qualcomm has been ordered to renegotiate licensing agreements with customers, patent licenses to rivals at fair prices and avoid signing exclusive supplier agreements with phone manufacturers that prevents others from selling chips in devices. "data-reactid =" 29 ">Qualcomm (QCOM) has been deemed to have unlawfully removed Competition in the cellphone chip market and excessive licensing fees, a federal judge ruled late Tuesday. The judge's decision is lined up on the side of the Federal Trade Commission, which has initiated an antitrust lawsuit against Qualcomm in early 2017. Qualcomm has been ordered to renegotiate licensing agreements with customers, patent licenses to rivals at fair prices and avoid signing exclusive supplier agreements with phone manufacturers that prevent others from selling chips in devices.
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<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Emily McCormick is a journalist for Yahoo Finance. Follow her on Twitter: @emily_mcck"data-reactid =" 31 ">Emily McCormick is a journalist for Yahoo Finance. Follow her on Twitter: @emily_mcck
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