Global shares track weakness on Wall Street; China shares higher

20 January, 2018, 05:15 | Author: Darnell Patrick
  • The Dow Jones Industrial Average fell 97.84 points or 0.37 per cent to 26,017.81 the S&P 500 lost 4.53 points or 0.16 per cent to 2,798.03 and the Nasdaq Composite dropped 2.23 points or 0.03 per cent to 7,296.05

Closing values for three main stock indices January 16 According to money.cnn the Dow Jones (DJIA) closed down 0.04 percent, 10.33 points at 25,792.86.

Cruz added that the Federal Reserve Bank of New York's business conditions index, which came in slightly below expectations on Tuesday, may have also contributed to Wall Street's dip. That was the first time the blue-chip index finished above 26,000.

Wage gains haven't risen as quickly as the stock market, but companies will eventually need to begin boosting salaries, and that will have some impact on earnings, he said.

The Dow Jones Industrial Average closed marginally lower on Tuesday after the blue-chip index relinquished all its early gains in the sharpest daily reversal in almost two years. For the final three quarters of this year earnings growth is expected to be close to 15 percent.

Volume on US exchanges was 8.30 billion shares, compared to the 6.48 billion average over the last 20 trading days.

Earnings and corporate news were still in focus during the first trading day of the holiday-shortened week, with Citigroup, UnitedHealth, Comerica, and CSX some other major brands set to publish their latest quarterly results. Hong Kong's Hang Seng rebounded from earlier losses to gain 0.3 percent, closing at 31,983.41 while the Shanghai Composite index added 0.2 percent to 3,444.67.44. The yield on the benchmark 10-yr Treasury note slipped one basis point to 2.54% while the 2-yr yield climbed one basis point to 2.01%.

General Motors rose 2 per cent after the company said it expected earnings in 2018 to be largely flat, but that profits should pick up pace in 2019. Caterpillar is up 7 percent in that time.

Since then, Wall Street analysts have been boosting their 2018 earnings forecasts for USA companies at the quickest pace in a decade, providing a fresh tailwind for a market that some skeptics say is pricey. The nation's oldest stock index rose 1.25 percent to close at 26,115.

U.S. crude is down 0.31% at the time of writing at US$63.77 a barrel.

In related news, Director Mark Edward Thompson sold 1,000,000 shares of the firm's stock in a transaction dated Tuesday, November 7th.

The British pound was essentially unchanged at percent to $1.3796.

Meanwhile, the dollar tried to break a four-session losing run on Tuesday, edging up as U.

The euro was little changed at $1.2268. Building materials group CRH fell 0.6 per cent to €30.19, while food company Kerry was down 0.4 per cent at €89.50.

The MSCI Emerging Market Index jumped 0.6 percent to a record.


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