[ad_1]
US stocks are trading Friday after Chinese industrial production for May was below expectations.
Semiconductor stocks fall after Broadcom lowered its revenue forecast for the year, saying US-China trade tensions and Huawei's export restrictions were hurting demand for chips .
| Teleprinter | security | Latest | Change | % Chg |
|---|---|---|---|---|
| I: DJI | DOW JONES MEANS | 26049.98 | -56.79 | -0.22% |
| SP500 | S & P 500 | 2881.99 | -9.65 | -0.33% |
| I: COMP | COMPOUND INDEX NASDAQ | 7792.165028 | -44.97 | -0.57% |
China's industrial output grew 5.5% year-on-year, its slowest pace of growth for 17 years, and another sign that trade tensions are hurting growth.
US President Donald Trump said on Tuesday that he was blocking a trade deal with China and had no interest in going ahead unless Beijing again agreed to four or five "major points" that Trump did not specify.
| Teleprinter | security | Latest | Change | % Chg |
|---|---|---|---|---|
| AVGO | BROADCOM LIMITED | 259.88 | -21.73 | -7.72% |
| AAPL | APPLE INC. | 190.50 | -3.65 | -1.88% |
| INTC | INTEL SOCIETY | 45.77 | -0.94 | -2.00% |
Broadcom Inc. expects a decline in annual sales of $ 2 billion, due to uncertainty looming over the flea sector after the Trump administration announced the ban to export its products to the Chinese telecommunications giant Huawei Tech.
Apple's shares are also falling with flea-and-chip-related actions in the Broadcom alert. Apple and Intel are the worst-performing Dow stocks.
On the economic front, US retail sales increased in May and sales in the previous month were revised upward. The Commerce Department said Friday that retail sales rose 0.5% last month as households bought more motor vehicles and other goods.
April data was revised upwards to show that retail sales rose 0.3%, instead of declining 0.2% as previously reported.
Oil prices fell on Friday, as trade disputes may weigh on global demand, although two oil tanker attacks this week against the oil in the Gulf of Oman gave prices a floor.
Brent futures rose 9 cents to 61.40 GMT, to 61.40 dollars a barrel, after gaining 2.2% Thursday.
The West West Intermediate futures contracts in the United States increased by 7 cents to $ 52.34.
Both contracts were on track for weekly declines of more than 3%.
One-third of all oil sold by sea passes through the Strait, which is the narrow mouth of the Persian Gulf.
CLICK HERE TO GET THE FOX BUSINESS APP
In China, the Shanghai Composite of China ended the day down 1%. Hong Kong's Hang Seng lost 0.7% and Japan's Nikkei ended the day up 0.1%.
In Europe, the British FTSE 100 fell by 0.5%, the French CAC 40 by 0.3% and the German DAX by 0.6%.
[ad_2]
Source link