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US stock indices down 0.8-0.9%

19 July 2021
1951
2 min.
12
US stock indices down 0.8-0.9%

Friday trading

US stock indices ended Friday's trading lower on inflation concerns. The second quarter reporting season also remains in the spotlight. This week, major US banks and a number of other companies reported their results.

Despite the fact that many of the country's largest companies have reported strong net profits and revenues amid economic recovery, the reaction of the stock market as a whole was restrained, writes CNBC.

The statistical data published on Friday showed an unexpected increase in retail sales in the USA last month.

U.S. retail sales in June rose by 0.6% compared to the previous month, said the country's Commerce Department.

The US consumer confidence index fell to 80.8 points in July from 85.5 points a month earlier. This is the lowest figure since February this year. Meanwhile, analysts on average had forecast an increase to 86.5 points, according to Trading Economics. Respondents to The Wall Street Journal had expected a rise to 86.3.

The Dow Jones Industrial Average index fell 299.17 points (0.86%) to 34687.85 points by the close of trading.

The Standard Poor's 500 lost 32.87 points (0.75%), falling to 4327.16 points.

The Nasdaq Composite fell 115.90 points (0.80%) to 14427.24 points.

For the week, the Dow declined 0.52%, the S&P 500 0.97% and the Nasdaq 1.87%.

The Charles Schwab Corp. stock price declined 2.4%, although the US banking and brokerage company nearly doubled its net profit in the second quarter.

Intel Corp (NASDAQ:INTC).shares fell 1.5%. One of the world's leading computer component makers is reportedly in talks to buy chip maker GlobalFoundries for $30 billion, The Wall Street Journal reported.

Moderna (NASDAQ:MRNA) Inc. shares gained 10.3%. The US biotechnology company's papers will be included in the calculation of the Standard Poor's 500 stock index, S&P Dow Jones Indices said. The changes will take effect from 21 July. Moderna shares will replace Alexion Pharmaceuticals (SPB: ALXN) Inc. Swedish-British pharmaceutical company AstraZeneca (LON:AZN) Plc is in the process of buying Alexion, with completion expected shortly. Alexion Pharmaceuticals share price decreased by 0.3%.

Companies12 in the news

GlobalFoundries
2 place
Alexion
3 place
CNBC
4 place
Moderna
5 place
AstraZeneca
6 place
Nasdaq
8 place
Dow Jones
9 place
Charles Schwab
10 place
Intel
11 place
Section:

Discussion

Rating companies
Apple
76 Mention
Tesla
75 Mention
Nasdaq
72 Mention
Amazon
65 Mention
Dow Jones
60 Mention
Facebook
53 Mention
Microsoft
41 Mention

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