New York (New York, Usa) – August 23rd 2018, 16:28
Wall Street ended lower on Thursday after an indecisive session, tossed between new Sino-US customs duties, legal concerns around Donald Trump and mixed economic indicators.
According to the final results at closing, the leading index of New York, the Dow Jones Industrial Average, lost 0.30% to 25,656.98 points.
The Nasdaq, with strong technological color, dropped 0.13% to 7,878.46 points.The S & P 500 index dropped 0.17% to 2,856.98 points.
“Every time we talk about tariffs it’s negative for the stock markets,” said Mike Mattioli of Manulife AM. Since Thursday, the US and China tariffs on each other cover $ 100 billion in commercial goods, one-seventh of the total trade between the two powers and affect both Harley-Davidson motorcycles, soybeans and American bourbon than machine tools or Chinese integrated circuits.
“There is a certain amount of excitement and fear” on the part of brokers on this topic, said Peter Cardillo of Spartan Capital, while discussions between emissaries from both sides ended on Thursday, with nothing filtering.Market players were also interested on Thursday in the words of Donald Trump during a television interview, saying that Wall Street would “collapse” if he was dismissed following the business that currently surrounds and we already dropped some of his relatives. “If he were to leave the presidency, (Vice President) Mike Pence would not change the business-friendly environment.
And he would throw himself less and less into the trade war, “said Karl Haeling of LBBW. In general, the effect of a president on the markets is “more symbolic than real,” said Charles Geisst, a professor of finance at Manhattan College and a long-time observer of financial markets.A reason for rejoicing emerged on the front of economic indicators, the weekly claims for unemployment benefits having again slightly declined, to the surprise analysts.
But this good news was offset by new home sales down in July, the lowest level in nine months.
On the bond market, the ten-year rate on the US debt stabilized at 2.820% against 2.819% at the close on Wednesday, while the 30 years declined to 2.974% against 2.984% the day before.