US stocks reversed to close the high Dow to erase 190 points and closed higher by 110 points

Release time：May 16, 2019 From：admin

US stocks Wednesday Dikaigaozou, continued the upward trend yesterday. The Dow erased a drop of 190 points in the morning and closed above 110 points. The technology and Internet sectors are leading the way. Investors are evaluating weak retail sales data and the development of international relations.

At 16:00 on May 15th (04:00 on May 16th, Beijing time), the Dow rose 115.97 points, or 0.45%, to 25648.02 points; the S&P 500 index rose 16.55 points, or 0.58%, to 2580.96. Point; the Nasdaq rose 87.65 points, or 1.13%, to 7822.15 points.

Driven by the news, the US stock market sector generally rose. General Motors (37.37, 0.33, 0.89%) (GM) and Ford Motor (10.36, 0.12, 1.17%) (F) both rose more than 1%.

Jeff Kravetz, regional investment director of the United Bank's financial management department, said: "Today's market reaction shows how sensitive investors are to such news. As the market waits for more news to come out, US stocks are expected to remain in a range of shocks."

Economists warn that the tense international situation will eventually seriously affect the US economy.

Gina Martin Adams, chief equity strategist at Bloomberg, said: "The US stock market is slightly oversold, but it is still too early to judge whether there are buying opportunities and whether US stocks have stabilized. But we think that next month Before the US stocks will spend most of the time in the volatile market."

This week's important financial reports include Cisco (52.44, 0.42, 0.81%) (CSCO), NVIDA (NVDA) and so on.

In economic data, US retail sales in April recorded a second decline in three months, reflecting a general decline in sales in major industries including auto, home and the Internet. According to specific data, US retail sales in April fell by 0.2%, and the market expects the number to increase by 0.1%.

Disappointing US retail sales data has exacerbated market concerns about US economic growth prospects. Andrew Hunter, senior US economist at Capital Economics, said: "US retail sales fell 0.2% in April, below market expectations, supporting our prediction that US second-quarter GDP growth will slow."

The New York Fed reported that the May manufacturing index in New York climbed to 17.8 from 10.1 in April, a six-month high. A higher than zero index indicates an improvement in manufacturing conditions.

The National Association of Real Estate Builders (NAHB) rose by 3 points in May to 66 points, the highest since October. Previously, the market expects the index to rise by one point.

In terms of Brexit news, there is no sign of any progress in the negotiations between the British Conservative Party and the opposition Labor Party regarding Brexit. The British Prime Minister Theresa May is facing pressure from her own side to ask her to abandon the process and step down. The British Prime Minister’s Office said on Wednesday that it will vote on the Brexit bill in the week of June 3.

BlueBay Chief Investment Officer Mark Dowding said: "I don't think there will be any progress in the negotiations between the Labor Party and the Conservative Party. Teresa May will eventually step down and a tougher Brexit will replace her. This shows that the UK is in November. The risk of hard Brexit is higher."