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US Stocks markets open lower as relations deteriorate

2019-06-14 01:43 pm | Resource: News | No Views : 64

 US Stocks  markets open lower as relations deteriorate

Trading on Wall Street began on Friday after geopolitical tensions in the Middle East increased as the United States sent US missile destroyer USS Mason to the Persian Gulf in response to an attack on two oil tankers in the Gulf of Oman that Washington accuses Iran of.

While Tehran strongly denies involvement. Relations between the United States and China remain difficult as the two countries have yet to reach a trade deal. China has warned Washington against interfering in Hong Kong's internal affairs following protests in the Chinese region over the extradition law. At the same time, tensions caused by the trade war prompted India to consider imposing tariffs on products from the United States.

US industrial production rose 0.4% in May

Industrial production in the US rose 0.4% in May from the previous month, according to data released by the Federal Reserve on Friday.

The main contributor to this figure was Utilities Index, which rose 2.1%. Manufacturing rose 0.2%, and mining output increased 0.1% in May.

On an annualized basis, total industrial production rose by 2% from May 2018. Meanwhile, energy use in the industrial sector in May reached 78.1%, up 0.2 percentage points on a monthly basis but 1.7 percentage points lower than the long-term average.

US retail sales rise 0.5% in May

US retail sales and food services rose by 0.5 percent in May to $ 519.0 billion from a month earlier, the US Census Bureau said on Friday.

Year on year, the figure rose by 3.2%. Meanwhile, from March to May, retail sales rose 3.6% year-on-year.

Retail sales rose by 0.5% from April of this year and rose by 3.1% compared to the same month last year. Retailers rose 11.4 percent from May 2018, while sporting goods, hobby, musical instruments and bookstores fell 4.2 percent year-on-year.

US Stocks Open
  • The Dow Jones lost 0.13% in the first minute of trading.
  • The Nasdaq fell 0.51% as trading started.
  • The S & P 500 fell 0.16% at 15:30 CET.


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