• Major US stock indexes finished trading mixed

Market news

4 April 2019

Major US stock indexes finished trading mixed

Major US stock indexes ended the session in different directions, as investors waited for the latest information on the US-China trade negotiations.

US President Donald Trump should later meet with Chinese Vice Premier Liu He, who is leading the Chinese side at the talks. In The Wall Street Journal reported that Trump can today announce a summit with President Xi. Yesterday, Bloomberg reported that under the terms of the trade deal over which the parties are working, Beijing will have time until 2025 to fulfill its obligations to purchase goods and allow US companies to fully own enterprises in China.

Enthusiasm of market participants was also held back by disappointing data from Europe. The Federal Statistical Office reported that new orders in the manufacturing industry in Germany in February fell at the fastest pace in the last two years. This has rekindled concerns about the global slowdown.

At the same time, US data provided support to the market. A report by the Labor Department showed that the number of Americans applying for unemployment benefits fell to a more than 49-year low last week, indicating a steady strength of the labor market, despite a slowdown in economic growth. According to the report, the number of initial claims for unemployment benefits fell from 10,000 to 202,000, taking into account seasonal fluctuations in the week ending March 30, which is the lowest level since the beginning of December 1969. Economists had forecast an increase in the number of applications to 216,000.

Most of the components of DOW finished trading in positive territory (19 out of 30). The growth leader was the shares of The Boeing Co. (BA; + 3.10%). Outsiders were Merck & Co. (MRK; -1.74%).

Most sectors of the S & P recorded an increase. The industrial goods sector grew the most (+ 0.8%). The largest decline was shown by the health sector (-0.4%).

At the time of closing:

Dow 26,384.63 +166.50 +0.64%

S & P 500 2,879.39 +5.99 +0.21%

Nasdaq 100 7,891.78 -3.77 -0.05%

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