S&P 500 gains with energy, tech but ends near day's low

24 Novembre, 2018, 04:38 | Auteur: Auguste Feret
  • Global stocks slide as futures point to Wall Street drop

The market's losses mount as a long period of low interest rates comes to a close, as the USA central bank pushes rates higher in an attempt to get them back to more normal levels. "A lot of the companies that are front and centre (like) Alphabet, Apple, IBM ... could be significantly limited in the way they export their technology". The S&P 500 finished 1.8 percent lower, pushing it into negative territory for the year.

Facebook shares, which have sold off sharply in recent days, actually rose a half of a percentage point in the first hour of trading. The Nasdaq composite climbed 63.43 points, or 0.9 per cent, to 6,972.25.

Despite the rally, which includes retail, energy and industrial companies as well as tech and internet stocks, the S&P 500 is down about 2.5 percent so far this week.

Apple fell 4.7 percent to $177.10 and is down 24.2 percent from the peak it reached October 3, though it's still up for the year. Boeing gave up 4.8 percent, but is still one of the best-performing stocks in the 30-stock index.

PG&E stock fell 4.7 percent to $23.26.

The S&P 500 fell 36 points, or 1.3 percent, to 2,654.

All three major USA indexes were down slightly for the year after trading, with the Dow about 2,400 points below its peak.

The Nasdaq is up 5.43 points, or 0.1 percent.

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The Russell 2000 is down 58.52 points, or 3.8 percent. Additionally, after losing more than 7% yesterday, crude oil prices rise more than 2.5% today to lift the S&P 500 Energy Index, which was last seen up 1.15% on the day.

Oil prices climbed after USA government data showed strong demand for gasoline and diesel, though gains were limited by concern over rising crude supply. Amazon's were off by 2.3 percent. Eastern time. The benchmark index has fallen 9.5 per cent from its record high two months ago. The yield on the 10-year Treasury note rose to 3.07 per cent from 3.04 per cent.

Nissan's USA -listed shares slumped 8.5 percent after the company's chairman Carlos Ghosn was arrested after allegedly under-reporting his income.

Benchmark U.S. crude lost 7 per cent to $53.23 a barrel in NY.

Utilities and other high-dividend stocks also declined.

France's CAC 40 gave up 0.8 percent and Germany's DAX slid 0.9 percent. Silver added 1.6 per cent to $14.50 an ounce. Copper held steady at $2.80 a pound.

CURRENCIES: The dollar rose to 113.05 yen from 112.40 yen.

Wholesale gasoline rose 1 per cent to $1.51 a gallon. The euro rose to $1.1453 from $1.1412. Britain's FTSE 100 slipped 0.2%. Japan's benchmark Nikkei 225 rose 0.7 percent and Hong Kong's Hang Seng added 0.7 percent. South Korea's Kospi gained 0.4%.

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