Wall Street is worried about the latest corporate income reports and the possibility of commercial advances in the United States and China. On Tuesday (29), the US stock market was slightly lower, and the market focused on Apple, which announced its latest profits after the close.
Tuesday (29th) There are four main index results in the United States:
- The United States Dow Jones index increased 51.74 points, or 0.21%, to 24,579.96 points.
- The S & P 500 index dropped 3.85 points, or 0.15%, to close 2640.00 points.
- The Nasdaq index fell 57.40 points, or 0.81%, to close at 7028.29 points.
- The Philadelphia semiconductor index dropped 18.15 points, or 1.45%, to close at 1236.25 points.
Among the S & P 500 indices, 6 of the 11 sectors were at the forefront, led by the energy, industrial and raw materials sectors: consumer discretionary products, US ADR services and the telecommunication services sectors they were reduced
The mothers (FAANG) fell to the board. Netflix (NFLX-US) fell 2.01%, Facebook (FB-US) fell 2.22%; Amazon (AMZN-US) fell 2.69%; Apple (AAPL-US) fell 1.04%; Alphabet (GOOGL-US) fell 0.94%.
Apple's last report on income after the market was aligned with low profile Wall Street expectations, the fact that the company's stock price rises 4%.
The first quarter of the Apple fiscal year, the 2019 revenue was 84.3 billion dollars, higher than the expected amount of 83.97 million dollars and the net profit per share (EPS) of $ 4.18, which was also slightly higher than expected of 4.17 euros.
Although the revenues for iPhone were lower than expected, products such as iPads, Macs and laptops were better than expected. Net income from services revenue was 62.8%, compared to 58.3% in the same period last year.
Nvidia again led the fall in semiconductor stocks, AMD (US-US) fell 4.61%, Micron (MU-US) fell 1.86%, Qualcomm (QCOM-US) dropped a 2.45%, Intel (INTC-US) fell 0.36%.
Nvidia (NVDA-US), the graphics chip maker, adjusted its quarterly income forecast and was downgraded by the investment bank on Tuesday. Nvidia (NVDA-US) plunged for two consecutive days, closing 4.64% to 131.60 dollars per share.
Bank stocks, Bank of America (BAC-US) fell 0.81%, Goldman Sachs (GS-US) increased 0.42%, JP Morgan Chase (JPM-US) increased 0.28% and Wells Fargo (WFC-US) rose 0.06%.
Taiwan ADR, TSMC ADR (TSM-US) fell 2.96%. UMC ADR (UMC-US) fell 1.58%, Sun Moonlight Investment Control (ASX-US) fell 1.54%; AUO ADR (AUO-US) fell 2.66%; Chunghwa Telecom ADR (CHT-US) fell 0.29%.
According to corporate income news, after Tuesday's intraday trade hours, more than 70% of corporate income exceeded analysts' expectations. 3M, Allergan and Verizon pharmaceutical companies report better profits than expected, pushing the stock prices up.
Affected by the reduction of sales in the US market and Trump rates, the benefit of the fourth quarter of HOG-US was well below the market expectations, creating the biggest gap since 2009, which goes Download 5.03% of the price of the company's shares.
Wall Street analysis
This week is the busiest week in the fiscal year and more than 100 companies in the S & P 500 index will announce their quarterly results. Michael Geraghty, equity strategist at Cornerstone Capital Group, said: "Remember that nearly half of S & P 500 stocks come from overseas. It's very important."
Geraghty said: "Economic data from outside the U.S. are still very weak. I think that some investors are not fully aware of the economic weaknesses in the foreigner and its impact on the profitability of American companies. "
An analyst at KeyWords Capital Markets, Andy Hargreaves, recently wrote in a report: "We believe the risk and overall rewards for Apple are neutral, although the treasury stock and strong recharges Customer loyalty provides a certain degree of protection, but we believe it is difficult to solve the sales and prices challenges faced by the iPhone department. "
A new round of US-China talks is about to begin. The White House's economic advisor, Kudlow, said on Tuesday that President Trump is optimistic that China and the United States will come to an agreement before the deadline of March 1.
Brent Schutte, Northwestern Mutual Wealth Management Co., Northwest Investment Manager, said: "British Brexit, trade between the United States and China, Fed, etc. are in progress, so I think there is hope that everyone is moving towards a solution. In the direction of development, the market can decide for itself, waiting to see what will happen. "