Dow drops 300 points after poor outlooks from Caterpillar, Nvidia
Monday, 28 January 2019 23:42 WIB |
MARKET UPDATE |DOW JONES Standard & Poor's 500saham A.S
Stocks fell sharply on Monday as investors fretted over weak earnings from Caterpillar and a big cut in revenue guidance from chipmaker Nvidia.
The Dow Jones Industrial Average fell 302 points as Caterpillar lagged. The S&P 500 dropped 1 percent, led lower by the tech and communications services sectors. The Nasdaq Composite declined 1.3 percent.
Caterpillar shares fell 8.3 percent after the industrial giant posted weaker-than-expected earnings for the fourth quarter. The company said its sales in the Asia/Pacific region declined because of lower demand in China. Caterpillar is considered a bellwether for global trade given the company's exposure to overseas markets. The company also issued disappointing guidance.
Nvidia, meanwhile, dropped 13.7 percent after slashing its fourth-quarter revenue guidance to $2.2 billion from $2.7 billion. The chipmaker said "deteriorating macroeconomic conditions, particularly in China," impacted demand for its graphics processing units.
Monday, 20 January 2020 23:56 WIB
European markets closed slightly lower on Monday as policymakers and business leaders gather in Davos, Switzerland for the annual World Economic Forum (WEF) conference.
The pan-European Stoxx 600 closed down by 0.1% to 423.98 , with household goods falling 0.9% to lead losses while insurance stocks...
Monday, 20 January 2020 15:28 WIB
Hong Kong shares finished on a negative note Monday as investors cashed in profits following last week's gains.
The Hang Seng index slipped 0.90 percent, or 260.51 points, to close at 28,795.91.
The benchmark Shanghai Composite Index gained 0.66 percent, or 20.29 points, to 3,095.79, while the She...
Monday, 20 January 2020 15:21 WIB
European markets opened slightly lower on Monday as policymakers and business leaders gather in Davos, Switzerland for the annual World Economic Forum (WEF) conference.
The pan-European Stoxx 600 slipped 0.1% lower at 423.88 at the start of trading, travel and leisure and utilities stocks falling 0...
Monday, 20 January 2020 13:25 WIB
Tokyo's benchmark Nikkei index gained for a third consecutive session on Monday, with investor sentiment buoyed by fresh record-setting advances on Wall Street and a weak yen against the dollar.
The Nikkei 225 index rose 0.18 percent, or 42.25 points, to close at 24,083.51 while the broader Topix i...
Monday, 20 January 2020 09:47 WIB
Japanese shares edged higher on Monday, due to strong U.S. housing data and investor optimism following last week™s U.S.-China trade deal, though the market™s valuations are getting stretched.
The Nikkei share average rose 0.19% to 24,087.51, staying near its 15-month high of 24,115.95 touched ...