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The New York Stock Exchange Closing Market
The New York Stock Market Decreased Due to Continued Low Technology Stocks
On July 30, the New York Stock Exchange All is Low. The Dow Jones, the S & P 500 and the S & P 500 fell by 0.57% and 0.58% respectively, while the Nasdaq fell by 1.39%.
The fall in technology stocks due to Facebook's disappointment last week is a burden on the stock market. Facebook, which fell 20% due to weak earnings on the 26th, continued to weaken each day, dropping more than 2% on the same day. Twitter, which dropped more than 20% due to a drop in the number of users, has remained below expectations by 8%. Other big tech stocks like Amazon.com, Apple and Netflix are also down. In the market, valuations of technology stocks that have risen sharply are overvalued.
Concerns about the global trade war continue, which also weighs heavily on the market. The United States and the European Union (EU) negotiated trade negotiations last week, easing concerns over trade warnings, but concerns have resurfaced. It is reported that Korea, Canada, the EU, Japan, Mexico and other countries will hold a meeting to deal with the threat of imposition of imported US car imports.
Looks like the Fed Federal Open Market Committee (FOMC) meeting is growing. The Fed will hold the meeting of the FOMC, a decision-making body for monetary policy, scheduled for two days from July 31, at the local time. The market should freeze the benchmark interest rate at this meeting, and the influence of the conference should not be significant since President Jerome Powell's press conference will not take place after the meeting.
The main economic indicators published today are in good condition. The National Association of Realtors (NAR) reported that the number of temporary home sales rose 0.9% in June to 106.9. This is above the market consensus. The Federal Reserve Bank of Dallas announced that its index of economic activity in July rose from 36.5 to 32.3 last month, but that it was better than market expectations.
Most industries were down, while software / IT services, technology equipment, medical equipment / supply, composite industry, transportation, industrial services, metals and mining, Twitter and Facebook fell by 8.03% and 2.19%, while Amazon.com, Apple and Netflix fell by 2.09%, 0.56% and 5.70%. Caterpillar, which posted better than expected results in the first half, fell 1.97% in the first half as the market turned towards a downward trend
Dow -144.23 (-0.57% ) 25,306.83, Nasdaq -107.41 (-1.39%) 7,630.00, S & P500 2,802.60 (-0.58%), Philadelphia Semiconductor 1,358.56 (-1, 00%)
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