The US equity benchmark traded reasonably low on Monday morning as China’s slower-than-expected growth began a cautious tone ahead of a steady parade of earnings this week.
How are stock benchmarks traded?
Dow Jones Industrial Average
It fell by 130 points (0.4%) to 35,161.
S & P 500
It slipped 7 points, or 0.2%, to reach 4,464.
Nasdaq Composite Index
Increased by 2 points or less than 0.1% to 14,899.
The Dow Jones Industrial Average rose 382 points (1.1%) to 35,295 and the S & P 500 rose 33 points (0.8%) to 4,471 after higher-than-expected retail sales were announced on Friday. The Nasdaq Composite Index rose 74 points (0.5%) to 14,897.
What is driving the market?
China reported Third-quarter year-on-year growth of 4.9%Due to the slowdown in construction production, it slowed significantly from the 7.9% recorded in the second quarter.
UK bond yield
It rose after the Bank of England governor said the central bank had to act because of concerns that rising prices could boost inflation expectations over the medium term. Central bank officials in the United States are less wary of rising prices.
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And international business machines
“The percentage of companies that are above expectations in both EPS and revenue is certainly slightly below the level of the previous quarter, but both statistics show 79% for EPS and 82% for sales in the past. It’s still very powerful compared to that, “said RBC strategist. A capital market led by Lori Calvasina. “Most companies also emphasize the continued strength of the underlying demand, which allows investors to look back (at least to some extent) on supply chain pressure in the past.”
According to economic reports, US industrial output readings fell 1.3% in September, and August readings fell from a 0.4% rise to a 0.1% fall.
Which company is paying attention to?
- Zillow Group Inc.. Z We are suspending the purchase of homes in the United States because we are processing the unprocessed portion of the property. Bloomberg News reported on Sunday. Stocks fell 10%.
- Square Co., Ltd. SQ I am considering building a Bitcoin system BTCUSD Mining, according to CEO Jack Dorsey. The share of the payment platform was low. Inventory decreased by 1.1%.
- Walmart Inc. WMT We announced the resurrection of the “Black Friday Deals for Days” event held in November. Stocks were 0.3% lower.
- Amazon.com Inc. AMZN He said he was looking for 150,000 seasonal employees, both full-time and part-time, on Monday. Its inventory increased by 0.3%.
How about trading other assets
Treasury yield for 10 years TMUBMUSD10Y It increased by almost 4 basis points to about 1.61%. Yields and debt prices move in opposite directions.
Dow, S & P 500 is down as weak Chinese data sets a cautious tone
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