• Major US stock indexes finished trading above zero

Market news

27 November 2018

Major US stock indexes finished trading above zero

Major US stock indexes rose slightly, as the rise in prices for Microsoft Corporation's shares helped win back the morning losses due to Trump's statements about the possible introduction of additional tariffs on Chinese imports, which cast doubt on the likelihood of a quick resolution of the trade conflict with China.

Recall, in an interview with the Wall Street Journal, Donald Trump stated that it is “extremely unlikely” that he will accept China’s proposal not to raise duties on Chinese imports worth $ 200 billion from the current 10% to 25%. Moreover, he announced the possible imposition of additional duties in the amount of $ 267 billion if the deal with China is not concluded during negotiations with the Chinese leader at the G20 summit, which will be held November 30 - December 1 in Buenos Aires, Argentina. "I intend to additionally introduce duties on goods worth $ 267 billion if the transaction is not concluded," at a rate of 10% or 25%, he said.

Comments by the Deputy Chairman of the Federal Reserve, Clarida also helped the stock market recover from its morning decline. Clarida said that the Central Bank is “much closer” to a neutral rate than it was in December 2015, when the Fed decided for the first time since the financial crisis to raise interest rates.

The focus of investors was also the Conference Board report on consumer confidence in the United States. According to the report, the American consumer confidence index fell in November after it registered an improvement in October. The index now stands at 135.7 (1985 = 100), compared with 137.9 in October. The current situation index rose from 171.9 to 172.7, and the expectations index fell from 115.1 last month to 111.0 this month.

Most of the components of DOW finished trading in positive territory (22 out of 30). The growth leader was Verizon Communications (VZ, + 2.55%). Outsider were United Technologies Corp. (CVX, -4.14%).

Most of the S & P sectors have shown a boost. The growth leader was the utility sector (+ 0.7%). The conglomerate sector dropped the most (-1.0%).

IndexChange, pointsClosedChange, %
Dow Jones108.4924748.730.44
NASDAQ Composite0.857082.70.01
S&P 5008.752682.20.33
Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.