Home / Business / Middle East Tensions Sink a Wall Street Rally by Investing.com

Middle East Tensions Sink a Wall Street Rally by Investing.com




© Reuters.

Investing.com – What started as a solid stock market newspaper Friday was mostly wiped out by rising tensions in the Persian Gulf.

The catalyst was a report that Iranian authorities had taken a British tanker passing through the narrow sand of Hormuz, which connects the Gulf of Persia to the Indian Ocean and is a critical passage for global oil supplies.

Crude oil prices rose in New York and London, creating enough concerns for withdrawing stocks. closed at $ 55.63, up 33 cents, but trading was still higher in the aftermarket.

The finished down 0.6%. It hit 0.7%.

It ended down 0.25%. But the result was worse than it looks. A 4% profit in shares in Boeing (NYSE 🙂 added almost 1

10 points to the blue-chip average in itself. Investors applauded the space giant's decision to take a $ 5 billion cost to take into account the cost of starting its 737 Max flight.

The biggest averages were down this week after two weeks of profits. The quarterly earnings season has begun, but many reports failed to impress investors. Even Microsoft (NASDAQ :), which easily beat tax for the fourth quarter and steered higher, fought the day.

It is still 18.7% a year. Nasdaq has received almost 22.8%. That's up around 16.4%.

Dow was up as many as 117 points early in the day but yielded 186 points between that level and the end. Only eight of the Dow shares were higher, with the Boeing (NYSE 🙂 leader. Boeing was also the fifth best exhibitor among S & P 500 shares.

Microsoft (NASDAQ :), McDonalds (NYSE 🙂 and Visa (NYSE 🙂 beat 52 weeks high. So did Adobe Systems (NASDAQ :), Cintas (NASDAQ :), Costco Wholesale (NASDAQ :), Ross Stores (NASDAQ 🙂 and Starbucks (NASDAQ :)).

Interest rates were recognized as President Donald Trump urged the Federal Reserve to lower its key figures at its meeting on July 30-31, with argumentative interest rates holding back the economy this year. Returns increased slightly in the day to 2.051%. The yield is down 3.5% per week and 23.8% this year.

Traders and investors are roughly unanimous. The Fed will lower its federal average rate at this month's meeting. Investing.com puts the odds at 100%, with a second cut coming at its meeting on September 18.

The industrial, energy and material stocks were the strongest sectors on Friday.

Real estate, tools and communication services were the weakest sectors.

Next week will produce a flood of performance reports that will be heavy on banks, but it will also include some of the major technology topics: Facebook (NASDAQ 🙂 on Wednesday and Amazon.com (NASDAQ :), Google Parent Alphabet (NASDAQ 🙂 and Intel (NASDAQ 🙂 are all on Thursday.

Winners and losers among stocks

(NYSE :), Citizens Financial Group (NYSE: and The railway operator Kansas City Southern (NYSE 🙂 was among the best S & P 500 practitioners.

Alliance Data Systems (NYSE :), Gilead Sciences (NASDAQ: ) and Symantec (NASDAQ 🙂 were among the worst performers.

Ne tflix (NASDAQ 🙂 was the fifth worst on the list after a weak performance report on Wednesday caused investors to flee the stock. 15.6% for the week.


Source link