According to today’s stock market update, US stocks include Dow have traded higher and stood 200 points taller. On Thursday morning, the Dow Jones reported upbeat earnings because two main companies in the US performed well. This included Walmart And Cisco.
Both Walmart and Cisco performed higher and better because one main company from China named Huawei got banned from America.
Initially on Thursday, Trump came in the middle of the emergency, stating he doesn’t need any Chinese companies operating in the country because they are inconsistent with the trade tariffs.
Moreover, Trump is trying to build pressures everywhere, which seem to benefit the American Economy to a large extent but it is only that on the middle to the coup- level, things seem to be erratic.
US Stocks: Positives
On Thursday, almost the week close, it was revealed that the economic data on the US labor market, plus the housing markets, was better than expected and so it sort of offset worries because of trade.
A Picture of the Major US Indexes
Reports revealed that the Dow Jones Industrial Average (the DJIA) stood at 0.98%.
The Dow Jones Industrial Average (DJIA) was 1.05% higher and stood at 219 points, settling at 25,865.
Moreover, the S&P 500 index, the SPX stood at 1.26%, as it rose by 31 points and then at 1.1% settling at 2,882 points.
The Dow stood alone but the Nasdaq Composite Index (COMP) stood at 1.30% as it rose to 96 points, to 1.2% settling at 7, 918.
Key Economic Data In Figures
So, the total number of Americans who are essentially applying for jobless benefits decreased and increased by the weekend to 212,000, the Labor Department revealed. However, it is still lower than the 217,000 as expected by Market Watch.
Further reports revealed that the construction of the houses went to new homes and it rose by 6% in April.
According to Commerce Department, construction of homes rose to 6% from the month earlier the Commerce Department said.
Additionally, it settled at an Annual Rate of 1.24 million and then by 1.21 million paces.
Stocks In Focus
These important stocks are in key focus today:
- Dow Component Walmart Inc. (WMT) as it rose from 2.18% to 4%.
Moreover, Dillard’s INC, DDS was at -9.97% as its stocks dropped by 11.2% on Thursday morning.
Crude Oil, on the other hand, CLM9 was 1.55% in the green as prices advanced. Gold, on the other hand, was GCM9, 0.89% lower.
Additionally, the US dollar was DXY or 0.25% higher.
Asian markets were important to look at, at the week close. For example, it had a 1.2% drop from the Kospi SEU 1.20% and then the Shanghai Composite the SHCOMP stood 0.58% higher too.
Moreover, aside from Dow, in Europe, stocks advanced and the Stoxx Europe 600 SXXP was 1.27% in the green, as it rose by 1%.
Cisco Systems stood at 6.94% and rose to 5.6% after the company rose by 5.6% points.
Finally, the Japan’s Topix slumped by 14% as compared to a year ago. The S&P 500 was 5.65% higher. The Nasdaq Composite was also about 12% points higher.
These patterns, information and updates were enough for one to understand how the week will close and what to expect with the week ahead.
For more updates, stay tuned.