Dow falls almost 500 points, dragged down by Target and tech shares
25 November, 2018, 12:49 | Author: Kathy Ellis
Stocks are opening higher on Wall Street as big technology companies like Apple claw back some of the ground they lost in a rout over the past two days.
Major technology companies including Apple and Microsoft rose Wednesday, and crude oil prices climbed 3.8 percent a day after sinking to their lowest level in a year. On the other hand, The Dow and S&P 500 were up 1.2 percent and 0.6 percent, respectively, for 2018 entering Tuesday.
The Russell 2000 index of smaller-company stocks soared 19.27 points, or 1.3 percent, to 1,488.28.
The S&P 500 fell 30 points, or 1.1 percent, to 2,660.
Thanks to the decline, the SPDR S&P Retail ETF (XRT) fell 3.4 percent.
Target fell 10.52 percent after reporting weaker-than-expected earnings for the third quarter. The broad-based S&P added 0.3 per cent at 2,649.93, ending well below its session peak. Home improvement company Lowe's gained 2.7 percent to $88.49 and Nike rose 1.5 percent to $72.22.
MSCI's gauge of stocks across the globe gained 0.75 percent. Boeing was the biggest drag on the Dow Jones Industrial Average with a loss of 4.5 percent. The company added that it expects strong sales over the holidays.
NISSAN: Nissan said Chairman Carlos Ghosn, who engineered a turnaround at the automaker, was arrested and will be fired on charges he underreported his income and misused company funds.
Stocks sank Monday as investors focused on simmering trade tension between Washington and Beijing after the two governments clashed at a weekend conference.
Benchmark U.S. crude lost 7 per cent to $53.23 a barrel in NY.
Industrial companies and retailers also stumbled.
ENERGY: Oil prices rebounded Wednesday as benchmark USA crude gained 2.3 per cent to $54.66 a barrel in NY. The biggest decliners are Facebook, which has been hounded by data privacy issues, down almost 40 percent from its recent peak, and Netflix, which is off 37 percent.
Wholesale gasoline rose 0.4% to $1.58 a gallon. Advanced Micro Devices Inc and Nvidia Corp rose 1.2% each and Micron Technology Inc was up 2.0%. It fell 6.6 per cent on Tuesday and finished at its lowest price in a year.
CURRENCIES: The dollar was flat at 112.95 yen. The pound extended its gains to $1.2880 from $1.2879, on news that Britain and the European Union had reached a deal in principle on future relations.
In Europe, Germany's DAX index lost 1.6 percent and France's CAC 40 shed 1.2 percent. Hong Kong's Hang Seng index rose 0.5 percent.
Trump issued a proclamation on November 9 that said anyone who crossed the southern border would be ineligible for asylum . Previous Trump immigration policies, including measures targeting sanctuary cities, have also been blocked by the courts.
President Trump speaks to members of the military over the phone Thursday from his Mar-a-Lago resort in Palm Beach, Fla . Indeed, asked what he was thankful for this Thanksgiving , Trump cited his "great family", as well as himself.
This storm is expected to slide inland and take a fair amount of snow, 1 to 2 feet, into parts of the Rockies later today. AccuWeather is predicting a low of 15 and a high of 24 in Boston on Thanksgiving Day .
A point was cut from me in the final round, but there was a lot of closing, pulling and pushing from both of us. Taller boxers can have the advantage due to their reach, they can get inside immediately and come back again.
It is unclear whether Mueller will be satisfied with the written answers or will still seek to question the president in person. Mueller could theoretically still try to subpoena the president if he feels the answers are not satisfactory.
Dr Mahathir was in Papua New Guinea last week to attend the Asia Pacific Economic Cooperation (Apec) Summit hosted by the latter. China has been building its influence in the region, and Chinese businesses are now deeply invested in Pacific island countries.
Ohio State remained No. 10 in the fourth edition of the College Football Playoff rankings , which were released Tuesday night. UCF jumped Ohio State to get to the ninth spot despite the fact that the Buckeyes won last week.
Like every year, Apple simply put together a roundup of brand new products that are available in stores ahead of the holidays. The iPhone manufacturer will kickstart its four-day shopping bonanza on Black Friday itself, which falls on November 23.
Lindsay Walters, a spokesman for the White House , said the new report was "largely based on the most extreme scenario". Communities also need to advance measures to adapt to the challenges of a changing climate.
Scaramucci added that he didn't think the use of personal email accounts by either Ivanka or Clinton was unintentional. This is such a scandal plagued White House but Trump's voting base seems completely unfazed by anything.
Bus attack postpones South American soccer final
The South American Football Federation (CONMEBOL) initially delayed the kick-off twice, before deciding to postpone. Unsurprisingly, it soon became clear that the final would not be going ahead on time on Saturday night.
JB Hi-Fi’s PlayStation 4 Pro Deal Is Pretty Good
This is a pretty good opportunity to upgrade to an Xbox One X or S console for a fraction of the price it would usually cost. This deal will also be available at other stores including London Drugs , The Source and Walmart (in-stores only).