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lakeelmoleader.com August 24, 2017


Markets Right Now: Stocks move lower on Wall Street

13 May 2017, 10:45 | Frank Carlson

Walt Disney is the worst performing Dow constituent

Donald Trump

Weak retail earnings hit the S&P 500 and the Dow Jones Industrial Average over the past week.

CHINA-US TRADE: A trade deal announced on Friday Asia time would allow USA companies to ship liquefied natural gas to China and tackles a range of long-standing barriers, ending a ban on imports of USA beef and moving a step closer to allowing Chinese poultry on American supermarket shelves.

USA futures pointed to a slightly lower open on Wall Street as investors awaited the release of retail sales and inflation data.

The Dow Jones industrial average lost 23 points, or 0.1 percent, to 20,896. Hong Kong's Hang Seng edged 0.1 percent higher to 25,156.34 and the Shanghai Composite Index in mainland China was 0.7 percent higher at 3,083.51.

NASDAQ measures a number of indices reflecting the reaction of USA's high tech markets and business environments on the country's political and economic developments which have an impact on high tech markets. That would mark the index's fourth-straight weekly rise, albeit the smallest in the streak.

In corporate news, the week has been tough for retailers as companies reported quarterly earnings that missed estimates. (MRK) the largest decliners, for a 0.5% drop on the week.

Palo Alto Networks Debuts Virtual Firewall on Microsoft's Azure Govt Cloud
Visual Studio 2017 for Mac has reached general availability, and there's now Threat Detection for Azure SQL databases. Microsoft's Build conference is where the company sets its vision for the near, and often far, future.

At 1400 GMT, Preliminary University of Michigan Consumer Sentiment is expected to come in unchanged at 97.0. It is expected to show consumer inflation rose by 0.3%, up from -0.3% in March.

At 10 a.m. Eastern, the University of MI consumer sentiment survey for May is due, as is a reading on business inventories in March.

Elsewhere, investors will eye a speech from Chicago Fed President Charles Evans who is due to appear on a panel on economy and interest rates at the ACI financial markets conference in Dublin at 1400 BST.

J.C. Penney fell 51 cents, or 9.6 percent, to $4.78 after it reported a loss for its latest quarter and weaker revenue than analysts expected.

Other markets: USA oil prices moved lower on Friday, though they were still headed for a gain of 3% for the week.

The broader market, though, was much more pacific. The two-year yield dropped to 1.28 percent from 1.34 percent, and the 30-year yield fell to 2.99 percent from 3.03 percent.



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