Major US stock indexes fell slightly on Monday after the unexpected drop in Chinese exports in December, which again raised concerns about a slowdown in the global economy.
The General Administration of Customs of China reported that China’s exports and imports in December showed a decline due to the impact of tariffs on Chinese goods imposed by the United States, as well as weakening domestic demand. China's exports declined by 4.4% per annum after rising 5.4% in November. Economists had expected growth of 2.5%. Imports fell by 7.6% after rising by 3.0% in November and instead of the expected growth of 3.0%. Trade surplus was $ 57.06 billion after $ 44.75 billion in November, with a forecast of $ 51.53 billion. In 2018, China’s exports in dollar terms grew by 9.9% and imports by 15.8%. In addition, the data showed that the trade surplus of China with the United States last year reached a new record, and amounted to $ 323.32 billion, which is 17% more than in 2017. China's exports to the United States in 2018 increased by 11.3%, while imports from the United States increased by 0.7%.
Most of the DOW components recorded a decline (21 out of 30). JPMorgan Chase & Co. was the growth leader. (JPM, + 1.03%). The outsider was Merck & Co., Inc. (MRK, -2.04%).
Almost all sectors of the S & P finished trading in the red. The largest decline was shown by the utility sector (-1.8%). Only the financial sector grew (+ 0.1%),
At the time of closing:
Dow 23,909.84 -86.11 -0.36%
S & P 500 2,582.61 -13.65 -0.53%
Nasdaq 100 6,905.91 -65.56 -0.94%