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Wall Street shares open higher, the Dow jumps over 100 points

2019-08-16 02:20 pm | Resource: News | No Views : 29

 Wall Street shares open higher, the Dow jumps over 100 points

Wall Street started trading in positive territory on Friday as the Dow jumped more than 100 points. This week saw volatility rise amid lower bond yields and further escalation in the US-China trade war.

US consumer sentiment falls to a 7-month low in August

The University of Michigan said in its latest survey released on Friday that the US consumer confidence index fell in August to 92.1, down sharply from both last month's reading and market expectations. The initial assessment of consumer confidence shows that it has fallen to its lowest level since the beginning of the year.

US housing sales are down 4% in July

US home prices fell 4% to a seasonally adjusted annual rate of 1,191,000 in June from a revised 1,241,000 in the previous month, the US Census Bureau and the Department of Housing and Urban Development announced Friday. Yearly, housing rose 0.6% from 1,184,000 registered in July 2018. The housing rate per household in July was 876,000, up 1.3% compared to the previous month's revised estimate of 865,000.

On the other hand, building permits rose 8.4% on a monthly basis to a seasonally adjusted annual rate of 1.336 million. The figure rose 1.5% from the same month a year ago. Housing completion reached 1,250,000, jumping 7.2% on a monthly basis and rising 6.3% compared to July last year.

Wall Street Openings
  • The Dow rose 172 points in the first moments of the session as retail giant Wal-Mart led the gains. On Thursday, President Donald Trump praised Wal-Mart for its quarterly results.
  • The S&P 500 rose 0.70% with Nvidia up 8% after the company's earnings.
  • The Nasdaq 100 rose 0.98%. Micron was among the biggest gainers.

The euro was down 0.32% against the dollar, trading at 1.10715 levels at 15:45 CET

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