S&P 500 and Nasdaq Was Up, and Dow Declined Due to Concern About Trade

 

The S&P 500 and Nasdaq indexes closed Thursday’s trade in the positive territory, while the Dow slightly declined, as continuing concerns about a slowdown in the global economy and trade contradictions between the US and China have negated optimism about companies’ reports.

The companies’ profit in the fourth quarter shows an overall positive trend, but the words of US Secretary of Commerce, Wilbur Ross, that the United States and China are very far from concluding a trade agreement worsened investor sentiments.

Results of chip manufacturers contributed to the growth of the Nasdaq index. Quarterly reports of Xilinx Inc. (NASDAQ: XLNX) and Lam Research Corp. (NASDAQ: LRCX) exceeded forecasts.

American Airlines (NASDAQ: AAL) Group Inc., Southwest Airlines Co (NYSE: LUV) and JetBlue Airways Corp. also reported quarterly results that exceeded expectations.

The index of shares of these airline companies included in the S&P 500 gained 3.3 percent.

The Dow Jones index closed the session down by 0.09 percent to 24,553.24 points, the S&P 500 index rose by 0.14 percent to 2,642.33 points, the Nasdaq Composite index gained 0.68 percent by rising to 7,073.46 points.

Shares of Textron Inc. (NYSE: TXT) jumped 5.6 percent, as the company reported profit exceeding expectations and predicted higher profit than it was expected in 2019.