Breaking News

You are here » Indian-Commodity  :  International & World Stock  :  US markets end mostly in red on Friday

26-May2018

US markets end mostly in red on Friday

The US markets ended the choppy day of trade mostly in red terrain as some traders were away from their desks, looking to get a head start on the long Memorial Day weekend. Geopolitical uncertainty also kept some traders on the sidelines following President Donald Trump's decision to call off the historic summit with North Korean leader Kim Jong Un. In a post on Twitter on Friday morning, Trump seemed pleased with the North Korean response to the cancellation of the planned meeting. The tweet from Trump came after the North's state-run Korean Central News Agency carried a statement by Vice Foreign Minister Kim Kye-gwan. In the statement, Kim indicated North Korea remains willing to hold talks with the U.S. and expressed a willingness to give Trump the time and opportunity to reconsider his decision.

Meanwhile, traders largely shrugged off the latest batch of U.S. economic data, including a report from the Commerce Department showing a bigger than expected decrease in durable goods orders in the month of April. The durable goods orders slumped by 1.7 percent in April after spiking by an upwardly revised 2.7 percent in March. The street had expected orders to drop by 1.4 percent. Excluding a pullback in orders for transportation equipment, however, durable goods orders climbed by 0.9 percent in April after rising by 0.4 percent in March. Ex-transportation orders had been expected to increase by 0.5 percent. A separate report from the University of Michigan unexpectedly showed a modest deterioration in consumer sentiment in the month of May.

The Dow Jones Industrial Average declined 58.67 points or 0.24 percent to 24,753.09 and the S&P 500 was down by 6.43 points or 0.24% to 2,721.33, while the Nasdaq was up by 9.43 points or 0.13 percent to 7,433.85.


Related News

View all news

US markets extend gains on optimism about trade leads

Extending gains for fourth straight session, the US markets ended sharply higher on Friday, with gains of over a percent each, as traders continued to express optimism about trade talks between the US......

US markets end higher on hopes of easing trade tensions

Magnifying their gains for third straight day, the US markets ended higher on Thursday on report that the US is considering lifting some tariffs on Chinese products in an effort to elicit more concessions......

US markets end higher for second straight session

Extending their gains for second straight day, the US markets ended higher on Wednesday, on the back of upbeat earnings report from financial institutions such as Bank of America (BAC) and Goldman Sachs......

Top News

View all news

Glenmark Pharma recalling 96,240 applicators of its product from US

Glenmark Pharmaceuticals is recalling 96,240 applicators of its product Estradiol vaginal inserts for defective delivery system. The USFDA has termed it as a Class-II recall. The USFDA has classified Class-II......

Infosys hires over 7,600 staff in US

Infosys has hired over 7,600 staff in the US. This hiring is more than three-fourth of its target of recruiting 10,000 American workers. The company is making recruitment from local schools a 'sustained......

SBI to sell 26% stake of SBI payment services

State Bank of India (SBI) is planning to sell 26% stake of its SBI payment services (SPSPL) to Hitachi Payment Services (HPY). After allotment of the shares, SBI shareholding in SPSPL will become 74% from......