Tuesday, 22 May, 2018

Markets Right Now: Tech leads stocks lower; bond yields rise

E-mini Dow Jones Industrial Average Daily June E-mini Dow Jones Industrial Average
Russell Knight | 16 May, 2018, 08:39

USA ambassador to China Terry Branstad said the two countries remain "very far apart" regarding a tariff resolution, after which White House economic adviser Larry Kudlow told Politico he supports efforts to reach an agreement.

Stocks struggled to a mixed finish on Wall Street as weakness in smaller-company stocks offset gains in large companies.

BOND YIELDS: Bond prices fell.

Banks bucked the downward trend Tuesday and rose along with bond yields. The blue-chip Dow Jones grew by 68.24 points, with UnitedHealth and Walmart being the best-performing stocks in the index.

The Dow Jones Industrial Average .DJI fell 193 points, or 0.78 percent, to 24,706.41, the S&P 500 .SPX lost 18.68 points, or 0.68 percent, to 2,711.45 and the Nasdaq Composite .IXIC dropped 59.69 points, or 0.81 percent, to 7,351.63.

On the economic front, advance estimates of U.S. retail and food services sales for April were 497.6 billion U.S. dollars, an increase of 0.3 percent from the previous month, in line with market expectations, said U.S. Commerce Department on Tuesday. Essex Property Trust fell 3.4 percent. The yield on the 10-year Treasury rose to 3.07 percent from 3 percent late Monday. Higher mortgage rates can make it harder for would-be buyers to purchase a home.

Honor 10 launched globally - Here's all you need to know
The front camera supports bokeh mode, and it also has support for studio lighting effects in a range of lighting conditions. Two of the colour variants have a dual-tone colour of blue and pink and in the images at least, looks pretty fantastic.

Boss Pep Guardiola: City will look to come back stronger next year
Identifying the players who won their team the most points and saved the most goals in the 2017/18 Premier League season . In the Premier League , from the moment Salah found the net on his debut, he proved nearly impossible to stop.

England announces 12-man squad for first test match against Pakistan
Buttler's last Test came against India 18 months ago and averages 31.36 from his 18 appearances in the longest format to date . Somerset spinner Dom Bess has also been included for the first time while Lancashire's Jimmy Anderson is also in the twelve.

The benchmark 10-year note's yield climbed to 3.09% in afternoon trading, and it is up more than 67.1 basis points in 2018, according to data from bond platform Tradeweb.

TECH TUMBLES: A slide in technology stocks weighed on the market. The Nasdaq is up 4 percent. Agilent Technologies slid 9.2 percent to $62.88.

MARKETS OVERSEAS: In Europe, Germany's DAX fell 0.1 percent after new data showed the country's economy slowed in the first quarter.

ENERGY: Benchmark U.S. crude oil reversed an early side, rising 35 cents to settle at $71.31 a barrel in NY. Brent crude, used to price global oil, added 20 cents to $78.43 in London.

Small-company stocks fell. The Russell 2000 lost 6 points, or 0.4 percent, to 1,600. The Dow is on track for a gain of 2.2 percent, while the S&P 500 is closing in on a gain of 2.4 percent.

Home Depot Inc (HD.N) shares slipped 1.6 percent after the home improvement retailer missed sales forecasts as the long winter put a damper on demand for spring products.

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