Wall Street remains close to home


The stock exchanges in New York opened on Thursday with small minuses. Investors included figures on economic growth in the United States in the closing quarter of 2018. Although this was weaker than the previous period, it was expected to be stronger than economists in the average. They also looked at the failed summit between US President Donald Trump and North Korean head of state Kim Jong-un and chewed them on some business results.

The leading Dow-Jones index dropped 0.1 percent shortly after starting at 25,970 points. The broad S & P 500 lost 0.2 percent at 2787 points. Nasdaq Fencing Scholarship declined 0.2 percent to 7538 points.

The US economy grew 2.6 percent year-on-year in the fourth quarter. That was less than the 3.4 percent from the third quarter. However, economists had counted on a growth of 2.2 percent.

Computer and printer manufacturer HP Inc. came with disappointing sales and dropped more than 16 percent. The maker of fitness trackers Fitbit (minus 15.8 percent) also delivered a lot. The expectations were disappointing.

Also owner of SeaWorld Entertainment marine parks (plus 7.3 percent), the Chinese webshop JD.com (plus 7.2 percent), shoe maker Crocs (minus 10 percent) and L Brands, the mother company of lingerie brand Victoria’s Secret ( minus 7 percent) gave a glimpse into the books.

By: Peretz M.

Peretz M. is an accomplished economist and financial journalist with a deep understanding of the global economy and financial markets. He is a regular contributor to EconomicInform, where he provides expert analysis and commentary on current economic trends and events. With a strong educational background in economics, Peretz has a talent for breaking down complex economic concepts for a general audience and is able to provide insightful perspectives on a wide range of economic issues.

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