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Dow Jones and Nasdaq Fell Down, but S&P 500 Is Quietly Steady

Dow Jones and Nasdaq Fell Down, but S&P 500 Is Quietly Steady

Published by InvestorGreg Editorial Team

April 12th, 2019

S&P 500 completed Thursday’s trading session without changes, as increase of worries about the global economic slowdown outweighed good economic data, while investors were waiting for start of the active phase of the reporting season.

Nasdaq and Dow Jones closed in the red amid declines in the health sector.

Analysts are waiting for a decline in profits of companies included in S&P 500 for the first quarter by 2.5 percent – for the first time since 2016.

The financial sector grew by 0.6 percent in expectation of reports from major US banks. JP Morgan Chase & Co and Wells Fargo & Co will provide their report on financial results on Friday.

Dow Jones decreased by 0.05 percent to 26,143.05 points; S&P 500 did not change closing at 2,888.32 points, and Nasdaq Composite decreased by 0.21 percent to 7,947.36 points.

7 of the 11 major sectors of S&P 500 closed the session in positive zone.

The health sector decreased by 1.2 percent.

U.S. Steel Corp’s stocks fell down by 3.2 percent after Bank of America Merrill Lynch decreased their rating. Stocks of the steel company’s competitors, AK Steel Holding Corp and Steel Dynamics Inc, decreased by 8.3 and 2.5 percent, correspondingly.

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InvestorGreg Editorial Team

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