Wall Street opens lower before profit due to trade war risks
2019-07-17 04:01 pm | Resource: News | No Views : 46
Stocks in the US stock markets started trading Wednesday slightly lower as the earnings season continued. Meanwhile, Commerce Secretary Wilbur Ross said it was uncertain whether the talks between Washington and Beijing would continue personally, as lawmakers sought to prevent US companies from doing business with Huawei. Of housing and urban development Housing in the country started up by 0.9% in June.
Silver hit its highest level since February because of the risk of a trade war
Precious metals rose on Wednesday, and silver reached $ 15.87, a level last seen on Feb. 27. Investors have shifted to the safe haven asset category with the sovereign debt of the UK and Germany and US long-term bonds and bonds. Risk aversion was evident from a small decline in stocks on Wall Street, despite rising oil ahead of weekly inventory data from the US.
Market participants were waiting for the Fed's Beige book, the last major document before this month's meeting. Focus on the trade war with China remained after US President Donald Trump threatened to apply more import tariffs.
- Gold rose 0.6% to $ 1414.51 an ounce at 4:27 pm CET.
- Silver was 1.85% in green zone at $ 15.84.
- Palladium jumped 0.88% to $ 1,543.56 an ounce.
- Platinum rose 0.7% to $ 845.38 per troy ounce.
US oil inventories fall by 3.1 million barrels
The refineries consumed an average of 17.3 million bpd in the week ending July 12, compared with 17.4 million barrels in the previous seven days, the US Energy Department said on Wednesday. The data showed that crude imports fell 470,000 barrels per day to 6.8 million barrels and that the commercial stocks of the commodity fell by 3.1 million barrels to 455.9 million barrels. The US Petroleum Institute had earlier estimated that the decline was 1.4 million barrels.
The utilization rate in refineries decreased by 0.3 percentage points to 94.4%. Gasoline in the reserves rose by 3.6 million barrels against the small decline measured by the API. The distillate category showed a jump of 5.7 million barrels, less than the special report. Oil stocks in Cushing, Oklahoma, fell 1.35 million barrels.
US Stocks Open
- The Dow Jones Industrial Average fell 0.11% in the opening bell, as Walgreens Boots Alliance Inc. By 2.15%.
- The Nasdaq 100 rose 0.04% only, with Cintas Corp jumping 7.99%. At the same time ,
- The S & P 500 was flat, with CSX Corp down 8.76%.
The Euro and the Pound settled against the Dollar at 9:29 am Eastern Time, with hands trading versus $ 1.12142 and $ 1.24126, respectively.
We offer you the analysis of the NASDAQ 100 index on Wednesday , April 17, 2019 with the most important forecasts for the NASDAQ 100 index in the US market. Time frame Used - four hours The NASDAQ 100 is moving in a bullish direction in the near term. The Nasdaq 100 is still facing resistance and selling pressure around 7670 levels, forming a negative candlestick pattern as the indices…
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