Global stocks on the rise after earnings reports!
Added: (Mon May 20 2019)
Pressbox (Press Release) -
Global markets have showed signs of lifting after solid earnings reports from tech giant Cisco and Walmart on Thursday, which has gone down very well with investors. Additionally strong economic data has further pushed US bond yields upwards, even as investors are currently struggling to take in all the information and developments in current global trade relations. A huge spike in US China trade worries over Trumps most recent import tariffs, has caused markets to convulse recently as investors are selling and buying positions across all sectors.
The news that Trump is set to delay automotive tariffs from China has created a positive move in the markets, and has increased the positive sentiment the bulls are feeling. However later the same day the Trump administration placed severe sanctions on the telecommunication giant Huawei.
Keith Lerner, the chief market strategist at SunTrust Advisory said in a recent note to investors The overall market sentiment got pretty negative the last couple of days,And I think it was just a set-up where we had a little bit of good news that has gone a long way, at least for today. He continued to say It makes sense that you are having a little bit of reprieve today based on a little better economic data and a little bit better earnings data which is drawing the attention away from China, which is still a big uncertainty right now.
The main indexes in the US Markets closed trading on Thursday with a solid positive result, however it was below the session highs. The Dow Jones rose over 200 points, around 0.84% with the S&P narrowly beating them with 25.36 points which equates to 0.89% and the true leader of the trading session was the NASDAQ who saw an addition of 75.90 points equating to 0.97%. Shares of Walmart and Cisco gave respectable boosts to the Dow and S&P 500 after their positive earnings results. Cisco saw an impressive 6.7% rise in share price while Walmart saw a respectable 1.4%.
Following the Trump administrations sanctions on Huawei the Philadelphia semiconductor index saw a sharp decline of 1.7% which was to be expected. Investors are currently being cautious when it comes to technology and the automotive industry, and we have seen a large portion of holdings being moved into other sectors that are set to be largely unaffected by Trumps recent trade war.
Kieran James IEC International