Wall Street ends higher with the financials and techs


by April Joyner

NEW YORK (Reuters) – The New York stock Exchange has ended in a increase in the whole on Monday, supported by the good orientation of the financial and a rebound in technology stocks before a flurry of publications of results in the course of the week.

Concerns about a possible escalation in the trade conflict between the United States to their trading partners remain present, but the investors have decided that the protagonists continued their discussions.

The president-elect of the mexican Andres Manuel Lopez Obrador sent a letter to Donald Trump calling for the rapid conclusion of the ongoing negotiations and the representatives of the two countries in charge of business issues are due to meet this week.

On the side of the european Union, a meeting is scheduled in Washington on Wednesday between the president of the european Commission and Donald Trump to discuss trade relations.

The sectoral index of financial values finished up 1.32% with the rise in Treasury yields, which have hit a five-week high.

If the federal Reserve should modify its policy after criticism by the president Donald Trump on the monetary tightening that it leads, this would have the effect of reinforcing the inflationary pressures resulting in an increase in bond yields, were estimated by the operators.

Investors are also awaiting the publications of the results of the second quarter.

Some 180 companies in the S&P 500, including Ford (NYSE:F) Motor company, 3M, and Boeing (NYSE:BA) and several big names in the technology sector such as Facebook (NASDAQ:FB), Twitter (NYSE:TWTR), and Intel (NASDAQ:INTC) must publish their quarterly results this week.

The Dow Jones has lost 13,83 points (0.06 per cent)to 25.044,29. The S&P-500, wider, took in the 5.15 points, or 0.18%, to 2.806,98. The Nasdaq Composite has advanced its side of 21,67 points (+0,28%) to 7.841,87.

Values, Alphabet (NASDAQ:GOOGLE), the parent company of Google has ended up nearly 1.1% before the publication of its results after the close.

Amazon (NASDAQ:AMZN), target of new attacks from Donald Trump, accusing the giant of online commerce to take advantage of the u.s. postal service, ended down 0.64%.

At the head of the S&P 500, the manufacturer of toy Hasbro ends up on a gain of 12,89% after it issued a profit and sales well above Wall Street expectations in the second quarter.

Conversely, Halliburton declined 8.1% after the world’s number two oilfield services has warned that its third quarter would be in line with the second because of persistent problems in North America.

Tool Works fall of 7.1%, weighing on the index of the industrial sector in decline of 0.62%. The manufacturer of mechanical parts has lowered its forecast of annual profits due to the strength of the dollar, in part triggered by the trade tensions.

Tesla (NASDAQ:TSLA) loose 3.3%, after having lost up to 6.6% in session as a reaction to information of the Wall Street Journal claiming that the manufacturer of electric cars has asked suppliers to make him a part of the sums levied from 2016 to support its profitability, which in turn fuels the doubts about its financial strength.

(Marc Joanny for French service)

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