— This specific will be the script of CNBC’s news report for China’s CCTV on July 4, 2018, Wednesday.
US stock just had 3 as well as half hours to trade overnight, Dow & Jones industry index declined 0.54% as well as S&P 500 shed nearly 0.5%, while a 0.86% decrease was seen in NASDAQ composite index. In terms of sectors, 5 of the S&P’s 11 industry indicators showed a decline. Among them, the technology as well as financial sectors led the loss.
For the top 5 technology stocks, Facebook will face a broader investigation from the US. Because of its data leakage scandal of Cambridge Analytics
Causing Facebook’s stock cost went down 2.32%. Google’s parent company Alphabet fell 2.26%; Netflix was off 1.92%; Apple drop 1.74%, while Amazon reduced 1.16%.
Among the bank stocks, Goldman Sachs fell 1.29%, Morgan Stanley drop1.47%, JP Morgan Chase closed down 1.4%, Bank of America was off 1.77%, as well as Citigroup descended 1.64%.
In fact, from the overnight session, you can say Great news as well as bad news. Before the opening, on the European side, because the coalition government under the leadership of German Chancellor Merkel reached an agreement on immigration policy, causing the political risks shade in Europe as well as the European stocks rise, then the US stocks at the opening were affected by the optimism sentiment, coupled with economic data showing of which US manufacturing data was better than expected, so the US stocks opened higher.
yet obviously, there are still concerns about global trade frictions from the market. Earlier, the EU has issued a threat of which if the US President Trump insists on levying tariff policies on EU automakers, then EU will impose the latest tariffs on imports of US$300 billion worth of traded goods. This specific may also cause many traders to lock in profits before the next one as well as half-holiday to seek safe haven.
[Louis Kuijs] “On several front, we see these broadening out of danger. For us will be of which if you look at any of those spats on isolation, you think its manageable, its just a tiny portion of total gobal trade. yet we start to add all these up, if the threats do materialize, we’ll start to have tariffs imposed on increasingly large share of global trade as well as of which will be getting worrisome.”
US stocks mainly fell from the end of the afternoon session.
The US dollar index fell slightly. The cost of gold rose by nearly 1% due to risk aversion, while the cost of 10-year US debt rose as well as the yield fell. However, because the market will be closed in advance, the overall trading volume overnight will be less than usual, as well as we know of which the lack of trading volume may trigger a more volatile trend from the session
Therefore, some analysts believe of which we should not over-interpret the overnight stock market decline. We will keep an eye on the following trend of US stocks.