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<p class = "canvas-atom-canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The S & P 500 (^ GSPC) lost 0.16%, or 4.62 points, at the close of the market. The Dow (DJI) decreased slightly by 0.06%, or 16.96 points, while Nasdaq (^ IXIC) lost 0.52%, or 40.47 points. "data-reactid =" 16 "> The S & P 500 (^ GSPC) lost 0.16%, or 4.62 points, at market close The Dow (^ DJI) lost 0.06% , or 16.96 points, while the Nasdaq (^ IXIC) lost 0.52%, or 40.47 points.
<p class = "canvas-atom web-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Reports of a recovery in May in the United States United States Retail sales and industrial production on Friday morning did little to curb the downward trend in US equities US retail sales rose 0.5% last month, slightly less than expected 0.6%, while April sales were revised upwards, from a 0.2% drop to a 0.3% increase in sales of automobiles and gasoline. volatile, retail sales rose 0.5% better than expected in May, & nbsp;according to the Census Bureau."data-reactid =" 17 "> Rumors of a recovery in May Retail sales and industrial production in the United States on Friday morning did little to curb the downward trend in equities. in the United States rose 0.5% last month, slightly less than the expected 0.6% increase, while April sales were revised upward from a decline of 0, 2% to 0.3% increase. According to the volatile sales of automobiles and gas, retail sales rose 0.5% better than expected in May, according to the Census Bureau.
Meanwhile, US industrial production grew faster than expected in May. The US Federal Reserve announced a 0.4% increase in industrial production for the month, reversing a similar decline in April. This increase was better than the 0.2% increase expected by consensus economists on industrial production in May.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Overnight, new data from & nbsp;National Bureau of Statistics of China& nbsp; experienced a slowdown in industrial production and investment in the region, due to ongoing trade tensions with the United States. "data-reactid =" 19 "> Overnight, new data from China's National Bureau of Statistics showed a slowdown in industrial production and investment in the region, despite ongoing trade tensions with the United States
China's industrial production growth was 5% in May, down 0.4 percentage points from the previous month and recording the smallest increase since 2002.
Capital investment rose 5.6% in May, also a slowdown from the previous four months and a failure to meet consensus expectations. Private sector capital investment, which accounts for almost two-thirds of total investment in China, rose 5.3 percent, up from 5.5 percent in the first four months of 2019.
At the same time, inventories of chip makers experienced a new weakness Friday after Broadcom had lowered its annual sales forecast on Thursday, due to the contraction in demand due to the US-China trade war. The company's business turnover now stands at $ 22.5 billion for fiscal year 2019, compared to the $ 24.5 billion forecast three months ago.
"With regard to semiconductors, it is clear that the US-China trade dispute, including Huawei's export ban, creates economic and political uncertainty and reduces the visibility of OEMs. world. [original equipment manufacturer] Hock E. Tan, CEO of Broadcom, said Thursday during a conference call with analysts. "As a result, demand volatility has increased and our customers are actively reducing inventory levels to manage risk."
Broadcom also revealed that sales to Chinese smartphone maker Huawei alone had generated a business turnover of $ 900 million, or about 4.3% of total revenues in fiscal year 2018.
Broadcom shares fell more than 5.5% as the market closed on Friday.
<p class = "canvas-atom-canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Other chip manufacturers in the United States, including Advanced Micro Devices (AMD) and Nvidia (NVDA) also fell as investors weighed the sectoral impact of trade tensions between the United States and China. The iShares PHLX Semiconductor ETF (SOXX"Data-reactid =" 26 "> Other US chip makers, including Advanced Micro Devices (AMD) and Nvidia (NVDA), also pulled back, as investors weighed in on the impact of Trade tensions between the two countries The PHLX Semiconductor ETF (SOXX) lost 2.5% on Friday.
Initial Public Offering
The IPO market in the United States continues to run in circles.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Online retailer of pet products Chewy (CHWY) became the last company to enter the public markets on Friday. Shares of the company based in Dania Beach, Florida, jumped 64% from the price of their IPOs to open at $ 36.00 each. Shares closed Friday at $ 34.99, up 59% from their introductory price. Data-reactid = "29"> The online retailer of pet products, Chewy (CHWY), became the latest company to enter the public markets on Friday.The shares of Dania Beach, The Florida-based company has jumped 64% above its IPO price to open at $ 36.00 each, while shares closed at $ 34.99 on Friday, or 59% more than their price. ;Initial Public Offering.
This comes after the company set Thursday its IPO at $ 22 per share, above its initial target range. The company sold 46.5 million shares, bringing the amount of its capital increase to $ 1.02 billion.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "[Readmore:[Readmore:[Lirelasuite:[Readmore:Soft actions make their appearance in public debut]"data-reactid =" 31 ">[Readmore:[Readmore:[Lirelasuite:[Readmore:Soft actions make their appearance in public debut]
During the 2018 fiscal year, Chewy reported revenues of $ 3.5 billion, up 67% from the previous year. It recorded a net loss of $ 267.9 million for the fiscal year ended February 2019, although this is less than the loss of $ 338.1 million for the year ending January 2018. PetSmart, a private company, acquired Chewy in 2017 for a declared value of $ 3.35 billion and continues to be the majority. shareholder of the company.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The public debut of Chew closely follows those of the software of Economy the Fiverr platform (FVRR) and Thursday and the cybersecurity company CrowdStrike (CRWD) earlier this week. Data has almost doubled since Friday at market close. "Data-reactid =" 33 "> The public debut of Chewy closely follows those of the Fiverr Network Economy Software Platform (FVRR) and the CrowdStrike Cyber Security Company (CRWD). almost doubled since their IPO at market close on Friday.
<p class = "web-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "This year, other public companies have enjoyed the same success Zoom Video Conferencing Software Company (ZM) saw its shares almost tripled in relation to the price of its IPO, while Beyond Meat (BYND) shares rose 466%. The Renaissance Capital IPO ETF (Initial Public Offering), which follows a basket of newly listed public companies, has increased 35% since the beginning of the year, more than double the earnings of the S 500. "data-reactid =" 34 "> Other companies newly This year, video conferencing software company Zoom (ZM) saw its shares triple its IPO price, while its shares in Beyond Meat (BYND) soared by 466%. IPO ETF (IPO), which follows a basket of new publicly traded companies, has risen 35% since the beginning of the year, more than double the gains of the S & P 500 index.
The highly publicized IPOs of the Uber and Lyft companies were exceptional. The shares of both companies are under continuous pressure and are trading below the price of their IPOs at the close of trading on Thursday.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Read the latest financial and commercial news from Yahoo Finance"data-reactid =" 36 ">Read the latest financial and commercial news from Yahoo Finance
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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 =" 38 ">Emily McCormick is a journalist for Yahoo Finance. Follow her on Twitter: @emily_mcck
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