Wall Street defensive as inflation fears rise, earnings boost fades
Friday, 27 April 2018 23:48 WIB | MARKET UPDATE |DOW JONESS & P 500 Standard & Poor's 500Saham ASNasdaq

Wall Street moved to a defensive mode on Friday, shifting into safer equity sectors as economic data raised the specter of inflation and possible interest rate hikes, while technology shares pulled back after an initial surge.U.S. gross domestic product increased at a 2.3 percent annualized pace in the first quarter, slower than the prior quarter but stronger than the expected 2-percent growth.

Accompanying the growth in the first quarter, which tends to be sluggish because of a seasonal quirk, was data that showed wages increasing at their quickest pace in 11 years.

The signs of inflation come as bellwether companies have recently cautioned that higher costs could erode margins, warnings that investors clung on to, rather than reports that showed first-quarter corporate profit growth was the strongest in seven years.

At 12:04 a.m. EDT the Dow Jones Industrial Average was down 35.60 points, or 0.15 percent, at 24,286.74, the S&P 500 was up 2.23 points, or 0.08 percent, at 2,669.17 and the Nasdaq Composite was up 3.42 points, or 0.05 percent, at 7,122.10.

Six of the 11 major S&P sectors were higher with the defensive utilities and real estate sectors gaining just more than 1 percent.

Source: Reuters

RELATED NEWS

US futures point to higher open ahead of Powell's speech
Friday, 23 August 2019 16:00 WIB

U.S. stock index futures were higher Friday morning, as market participants awaited a key speech from the Federal Reserve's top official. At around 04:00 a.m. ET, Dow futures rose 84 points, indicating a positive open of more than 68 points. Futures on the S&P and Nasdaq were both slightly high...

Hong Kong stocks finish week on positive note
Friday, 23 August 2019 15:39 WIB

Hong Kong shares ended the week with a healthy rise on Friday as investors look ahead to a key speech later in the day by Federal Reserve boss Jerome Powell hoping for hints at further interest rate cuts. The Hang Seng Index jumped 0.50 percent, or 130.61 points, to 26,179.33. The benchmark Shangh...

European Stocks Open Higher as Investors Await Powell Speech
Friday, 23 August 2019 14:37 WIB

European stocks opened higher Friday as investors await a speech from U.S. Federal Reserve Chairman Jerome Powell. The pan-European Stoxx 600 climbed 0.4% at 376.20 at the opening bell, technology stocks leading gains with a 1.1% rise as all sectors and major bourses traded in positive territory. ...

Tokyo Shares Close Higher Ahead Of Fed Speech
Friday, 23 August 2019 13:43 WIB

Tokyo shares closed higher on Friday, supported by gains in Chinese shares, while investors awaited a key address by the US Federal Reserve chair. The benchmark Nikkei 225 index gained 0.40 percent, or 82.90 points, to end at 20,710.91, while the broader Topix index rose 0.28 percent, or 4.19 point...

Hong Kong Stocks Flat At Open
Friday, 23 August 2019 09:17 WIB

Hong Kong stocks opened marginally higher on Friday following big losses the day before and hours before a key speech by Federal Reserve boss Jerome Powell later in the day. The Hang Seng Index edged up 9.16 points to 26,057.88 at the open. The benchmark Shanghai Composite Index added 0.06 percent...

ANOTHER NEWS
Abe: Seoul's Ending of Intelligence Deal Damages Mutual Trust
Friday, 23 August 2019 17:13 WIB Japan's prime minister said Friday that South Korea's decision to end a military intelligence sharing deal with Tokyo damages mutual trust. Shinzo Abe, speaking a day after Seoul announced its decision, said Tokyo œwill continue to closely...

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.