Wall Street opens lower on Friday


The US stock exchanges opened lower on Friday. This means that Thursday’s line, when there were also strong price losses, continues. Trade concerns have clearly returned to Wall Street since US President Donald Trump has indicated that he will not meet Chinese President Xi Jinping this month to close a trade deal.

The Dow-Jones index fell 0.4 percent in the first trading minutes to 25,063 points. The broad S & P 500 dropped 0.3 percent, to 2697 points. Techbeurs Nasdaq delivered 0.4 percent to 7256 points.

Due to the concerns about a trade agreement chip makers, who are dependent on China, contributed. Advanced Micro Devices (AMD), Micron Technology and Intel were reduced to 2.2 percent. Also tech giants Facebook, Amazon, Apple Netflix and Google mother Alphabet lost. They went down to 2.2 percent.

Investors further processed the figures of toy makers Mattel and Hasbro. Barbie maker Mattel surprised with a quarterly profit and was put 25 percent higher. Hasbro still suffers from the collapse of Toys ‘R’ Us, a toy retailer, and saw sales and profits fall. The maker of toys like Transformers and My Little Pony received 0.6 percent.

Cosmetics company Coty (plus 26.2 percent) and travel booking company Expedia (plus 2 percent) also opened the books. Arconic (plus 0.6 percent) also attracted attention. The supplier of parts to the car and aircraft industry will split into two independent companies.

By: Lesley Woutersen

Lesley Woutersen, one of the co-founders of the EconomicInform gives away all of his free time to the project. He is interested in stock exchange and digital assets. Lesley can be reached by lesley.woutersen@economicinform.com.

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