Breaking News

You are here » Indian-Commodity  :  International & World Stock  :  US markets close on pessimistic note on Friday

14-Apr2018

US markets close on pessimistic note on Friday

The US markets closed the Friday's trade on pessimistic note, as better-than-expected first-quarter earnings failed to stir buying appetite on Wall Street. Underlining concerns about lofty quarterly expectations for American corporations and geopolitical anxiety too dampened sentiments. However markets started the session on optimistic note as traders reacted positively to earnings news from financial giants JPMorgan Chase (JPM), Citigroup (C), and Wells Fargo (WFC). Buying interest waned shortly due to the release of a report from the University of Michigan showing a bigger than expected drop in consumer sentiment in the month of April. The report said the preliminary reading on the consumer sentiment index for April came in at 97.8 compared to the final March reading of 101.4. The street had expected the index to edge down to 100.5.

Richard Curtin, the survey's chief economist said, the consumer sentiment slipped in early April, largely reversing the gains recorded in the prior two months. The small decline was widely shared by all age and income subgroups and across all regions of the country. He added, importantly, confidence still remains relatively high, despite the recent losses that were mainly due to concerns about the potential impact of Trump's trade policies on the domestic economy.

The Dow Jones Industrial Average declined 122.91 points or 0.50 percent to 24,360.14, the Nasdaq dropped 33.60 points or 0.47 percent to 7,106.65, while the S&P 500 was down by 7.69 points or 0.29 percent to 2,656.30.


Related News

View all news

US markets end mostly lower on Friday

The US markets ended mostly lower on Friday, while Dow Jones Industrial ekes out marginal gains on strong quarterly earnings reports. The markets initially gained the momentum supported by a rally by Chinese......

US markets decline on Thursday on worries about global growth

The US markets declined on Thursday on rising worries over US-Saudi relations after the suspected murder of journalist Jamal Khashoggi and unease over the eurozone due to Italy's controversial budget plans.......

US markets end in green on Tuesday

The US markets ended the Tuesday's trade on an optimistic note with all the major indices garnering a gain of over two percentage points. The rally on Wall Street partly reflected a positive reaction to......

Top News

View all news

Tejas Networks, CONCOR and HDFC Bank to see some action today

Tejas Networks has received a purchase order of Rs 111 crore for Indian Navy's country wide next generation digital communications network from Sterlite Technologies, a global data network solutions company.......

Tejas Networks bags order worth Rs 111 crore from Sterlite Technologies

Tejas Networks has received a purchase order of Rs 111 crore for Indian Navy's country wide next generation digital communications network from Sterlite Technologies, a global data network solutions company.......

CONCOR signs agreement with Kribhco Infrastructure

Container Corporation of India (CONCOR) and Kribhco Infrastructure (KRIL) have entered into an agreement, wherein CONCOR will operate & manage the Bonded Area at KRIL's Terminal at Modinagar in......