Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ US stocks fell hours before the opening of the Wall Street bell

US stocks fell hours before the opening of the Wall Street bell



US stock futures were on a downward trend ahead of the release of revenue reports from the country’s largest retailers, starting on Monday.

Stocks in this article

$ 34382.13

+360.68 (+ 1.06%)

$ 1

3429,978403

+304.99 (+ 2.32%)

There will be many reports from the retail industry next week, including Walmart, Home Depot, Lowe’s, Macy’s, Target and TJX Brands. The companies that report for January-March next week include three Dow members: Walmart and Home Depot on Tuesday and Cisco Systems on Wednesday.

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The Wall Street S&P 500 benchmark rose on Friday, but ended the week at 1.4 percent.

Wall Street’s profit on Friday was driven by technology stocks. Retailers, banks and industrial stocks also increased.

The S&P 500 rose 1.5% to 4,173.85. The Dow Jones industrial average added 1.1% to 34,382.13, ending down 1.1% for the week. The Nasdaq advanced 2.3% to 13,429.98 for a weekly loss of 2.3%.

US stock futures were lower ahead of the release of earnings reports from the country’s largest retailers, starting on Monday. (Reuters)

This was followed by three days of large sales, caused by investors’ concerns about possible inflation in the United States. The main indices had reached record highs in the previous week. Last week, however, Wall Street suffered its biggest weekly drop in three months.

Apple, Microsoft, Facebook, Amazon and the parent company of Google Alphabet rose 1% or more.

Government data on Friday showed that US retail spending remained stable in April at the level of the previous month, but this is below the forecast for an increase of 1% compared to March.

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Asian stock markets, meanwhile, were mixed on Monday after Taiwan and Singapore tightened anti-coronavirus restrictions.

Shanghai and Hong Kong advanced, while Tokyo and Seoul refused.

Taiwan and Singapore have announced restrictions on public gatherings and other restrictions over the weekend following a rise in new infections, raising concerns about the region’s economic recovery.

“Concerns about virus revivals may remain in the region,” IG Jun Rong of IG said in a report.

The Shanghai Composite Index rose 1% to 3,524.04 after the Chinese government reported growth in retail spending, production and investment slowed in April from a previous explosive pace.

The Nikkei 225 in Tokyo fell 0.8 percent to 27,867.96, while Hong Kong’s Hang Seng advanced 0.6 percent to 28,204.14.

Kospi in Seoul fell 0.4% to 3,139.93, while the S & P-ASX 200 in Sydney added 0.3% to 7,036.70.

The Indian Sensex opened 1% at 49,207.64. New Zealand and Singapore won, while Bangkok and Jakarta lost.

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The 180 new cases of coronavirus in Taiwan and 15 in Singapore are modest compared to the thousands in India. But the recovery in economies that appear to have had the disease under control has raised concerns. Malaysia, Thailand and the Philippines regained control earlier in response to growing infections.

Thailand, which has managed to keep the outbreaks largely under control by effectively closing its borders and imposing mandatory quarantines, reported nearly 10,000 newly confirmed cases on Monday. About two-thirds of them were in prisons.

“You don’t have much time to throw it in its infancy before you can deal with a situation similar to India,” said ING’s Robert Carnell in a report. The economic impact will largely depend on “how successful the measures currently being implemented will ultimately be”.

In energy markets, the US benchmark rose 3 cents to $ 65.40 a barrel in e-commerce on the New York Mercantile Exchange. The contract won $ 1.55 on Friday to $ 65.37. Crude Brent, used to price international oil, lost 3 cents to $ 68.68 a barrel in London. It closed $ 1.66 higher than the previous session at $ 68.71.

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The dollar remained stable at 109.36 yen. The euro fell to $ 1.2129 from $ 1.2143.


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