Friday , July 30 2021

Wall Street fights for a rocky start to 2019 By Reuters



© Reuters. The trader looks at price monitors while working on the New York Stock Exchange floor (NYSE) in New York, New York

By Stephen Culp

NEW YORK (Reuters) – Wall Street struggled for direction after stumbling on Wednesday's initial port, as investors' fears of a global economic slowdown reduced the spirit of hunters to bargain on the first trading day of the new year.

Discretionary actions by consumers pulled S & P and Nasdaq into positive territory, while healthcare companies rated them at Dow.

Health () and so on. defense sectors, such as real estate <.splrcr> and utility services (), have provided the largest draw to the S & P 500.

The session began to climb after separate reports showed a slowdown in factory activity in China and the eurozone, suggesting that the ongoing trade dispute between the United States and China was taking place in global production.

As 2019 is under way and with the worst year for US reserves for a decade in the mirror, some analysts believe that the "January Effect" attracts investors at the table.

"We've had a bad quarter and negative results for the year," said Said Baki Helvig, senior vice president of BB & T (NYSE: Wealth Management) in Birmingham, Alabama. "However, we could see a more friendly Fed than what we had last year and we could see some movements in trade talks."

"Shares are inexpensive and investors are looking to put money to work in the new year," added Hellwig.

The Dow Jones Industrial Average () grew 20.04 points, or 0.09 percent, to 23,347.5, S & P 500 () received 8.71 points, or 0.35 percent, to 2,515.56, while the Nasdaq Composite (53) added 53.58 points or 0.81 percent to 6,688.85.

Of the 11 major sectors in the S & P 500, six were in positive territory.

Energy () shares enjoyed the highest profit in the S & P 500, hitting a 1.7 percent jump in the harsh price. The group was the worst-performing S & P sector in 2018.

Banks got a boost from Barkley (LON :), when the broker wrote in a research note that this sector could surpass S & P this year. Finance received, led by Dow Jones Industrial Average higher with gains from Goldman Sachs (H 🙂 and JPMorgan (N :).

Tesla Inc. (O 🙂 delivered less than expected model 3 sedan in the fourth quarter and reduced US vehicle prices due to the loss of the green tax credit. The shares of the electric car maker slipped by 6.5 percent.

General Electric Co (N 🙂 jumped 6.6 percent in heavy trading, as hunter-in-hunters bought shares after a fall of 56.6 percent in 2018.

In the coming weeks, the reporting period for the fourth quarter will be ongoing. Analysts believe that S & P 500 companies announce a profit margin of 15.8 percent, significantly lower than the 28.4 percent annulment in the third quarter.

Investors expect PMI's report on the fourth factory for the US plant, as well as data from Labor Ministry data on Friday, for signs of cracks in what is a fairly stable US economy.

The release of the federal government of the United States entered its 12th day on the eve of the Democrats who took over the helm of the United States House of Representatives, raising the tone of possible congressional spending, as legislators are struggling to finance the US and Mexican border guards.

The advancement of the questions surpassed the falling NYSE with a ratio of 1.98 to 1; of Nasdaq, with 1.99 versus 1 corresponding progress.

S & P 500 did not release new 52-week highs and 3 new lows; Nasdaq Composite recorded 9 new heights and 58 new lows.


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