stocks sink as investors digest president trump's moves - sink on wall

by:KEDIBO     2019-09-02
stocks sink as investors digest president trump\'s moves  -  sink on wall
Stocks fell on Monday as uncertainty over Donald Trump's potential policy moves weighed on Wall Street, while the energy industry led the decline.
The Dow Jones industrial average fell 0.
09% closed at 20,052 after the meeting rose earlier.
The S & P 500 index fell 0.
21%, Nasdaq fell 0. 06%.
Brad MacMillan, chief investment officer at the Commonwealth Financial Network, said in a telephone interview: "Everyone is trying to deal with some of our recent political developments . ".
"A lot of re-evaluation of some positive expectations has been made.
I think that's why you see the callback.
"Because of the leading energy industry, all industries are in a negative growth state, down nearly 1%, followed by real estate, down 0.
6%, and health care ended the same day.
Sam Stovall, CFRA chief investment strategist, said in a telephone interview: "Generally speaking, the overall trend is higher, but investors are also aware that valuations are expensive . ".
"We are actually digesting the unemployment data we got last week, does that indicate that the economy is continuing to rise, and Donald Trump is actually doing what he wants to do," he said, he will do so during the campaign, whether this will translate into expectations of tax cuts, repatriation, infrastructure spending, etc.
But there are still highlights in the details.
Settlement of intermediate crude oil in West Texas 1. 5% to $53. 01 a barrel.
Analysts at Stifel said 17 oil rigs were added last week to a total of 583 rigs, "continuing the construction of the relentless number of rigs in the United StatesS. ""The U. S.
Increased activity will result in increased supply in a timely manner, which will offset OPEC/non-OPEC
"OPEC has cut production and has a restraining effect on oil prices," analysts at Stifel wrote in a report . ".
Anadako Petroleum (APC -Get Report)fell 1.
8%, while Chevron (CVX -Get Report)
Down to close to 0. 6%.
On Friday, the Dow closed above 20,000 for the first time in a week because the financial sector took the lead. Goldman Sachs (GS -Get Report)
Bank of America (BAC -Get Report)
The bank shares rose slightly earlier on Monday, but after the president signed an executive order aimed at easing financial regulation, they did not see the same momentum.
"We usually digest the gains some way after the Dow has reached a Millennium High," said Stoval . ".
"In fact, without going through a 5% or more decline, we have reached the two millennium goals, so I think investors may be worried that we need some sort of digestion of the recent gains.
"Trump's executive order to ban seven majority immigrants --
From Muslim countries entering the United StatesS.
Waves continue.
On Sunday, the federal appeals court rejected the Trump administration's request to revoke the ruling of a judge in Seattle, which put the ban on hold nationwide.
"The bigger concern is the breakdown of relations between the Trump administration and Congress," McMillan said . ".
"We're starting to see a bit of friction between the government and Congress.
Being able to cooperate effectively may not be as possible as we thought. "Apple (AAPL -Get Report), Alphabet's (GOOGL -Get Report)
Google, Facebook (FB -Get Report), Microsoft (MSFT -Get Report), Netflix (NFLX -Get Report), Twitter (TWTR -Get Report)
On Sunday, a number of other tech companies filed a legal brief with the federal appeals court saying Trump's immigration ban damaged their business.
The executive order led to increased costs, reduced the company's international competitive power and hindered their ability to hire qualified personnel, the briefing said.
Apple shares rose nearly 1% on Monday. Intel (INTC -Get Report)
Microsoft and Verizon (VZ -Get Report)
Completed on Monday.
Apple, Alphabet, Wells Fargo, Citigroup and Facebook hold shares in Jim Kramer's action alert and Charitable Trust Portfolio.
Would you like to receive a reminder before Cramer buys or sells AAPL, GOOGL, or FB? Learn more now. Tiffany (TIF -Get Report)shares fell 2.
4% when the company announced that CEO Frederick cammeni would resign immediately after less than two years in office.
Former Tiffany CEO Michael J.
Kovalski will serve as interim CEO.
The company also maintained its annual financial forecast.
"The board is committed to our current core business strategy, but is disappointed with the recent financial results," Kovalski said in a statement . ".
"The board believes that in order to compete more effectively and improve performance in today's global luxury market, it is necessary to accelerate the implementation of these strategies. "Toyota (TM -Get Report)
Share price fell 1.
6% previously, the company announced a sharp decline in quarterly profits due to the strength of the yen.
However, the company did increase guidance this year and said it would focus on production of trucks and sports to increase revenue
Practical vehicle. Newwell brand (NWL -Get Report)
Improved the whole of it
Fourth year earnings guidance and report
Quarterly earnings expected on Wall Street.
Stocks fell. 6%.
Newell Brands is the holding company of Jim Cramer action alert and Charitable Trust Portfolio.
Want to receive a reminder before Cramer buys or sells NWL? Learn more now.
Hasbro, toy manufacturer (HAS -Get Report)
Rose 14% after the fourth report
Adjusted quarterly earnings were $1.
$64 per share, exceeding expectations of $1. 27. Revenue of $1.
Wall Street's forecast is also 63 billion.
Food service companySYY -Get Report)
Second Fortune
Adjusted earnings per share for the quarter were 58 cents, 4 cents more than expected.
Shares of Sysco fell. 5%. Tyson Foods' (TSN -Get Report)fiscal first-
The company's first-quarter earnings were higher than Wall Street expectations and meat producers increasedyear outlook.
Shares fell by 3. 4%. comScore (SCOR -Get Report)
The company said it would not be able to re-comply with the SEC's periodic reporting requirements by February, with its share price plunging 28%.
23 deadline in order to complete the financial restatements and meet the listing requirements of Nasdaq.
Aratana therapy (PETX -Get Report)
Pet treatment said in a regulatory document that it would delay the release of Entyce's product as an appetite stimulant until late 2017, when the share price fell 17%.
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