Logo


US stocks end in the red

The losses represent the fourth straight decline for the Dow

U.S. stocks finished at their lows of the session on Tuesday, 20 August 2019 as investors contended with worries about the strength of the U.S. economy and political developments in Europe that were weighing on government bonds.

The Dow Jones Industrial Average declined 173.35 points, or 0.7%, at 25,962.44. The S&P 500 index lost 23.14 points, or 0.8% to 2,900.51, while the Nasdaq Composite Index gave up 54.25 points, or 0.7%, to 7,948.56. The losses represents the fourth straight decline for the Dow and the S&P 500, the lengthiest period of losses since the period ended July 15.

All 11 S&P 500 sectors finished in negative territory, with the financials, materials, and consumer staples sectors losing over 1.0%.

U.S. stocks struggled Tuesday, even though investors reacted positively to quarterly results from Home Depot hich beat expectations. However, the home-improvement company warned that lumber-price deflation, as well as the impact of possible tariffs, could impact its fiscal year sales.

The dollar index was down by almost 2% on Tuesday.

Investors did not receive any economic data on Tuesday. Tomorrow, investors will receive Existing Homes Sales for July, the FOMC Minutes from the July meeting, and the weekly MBA Mortgage Applications Index.

Bullion prices ended higher at Comex on Tuesday, 20 August 2019. Gold futures climbed on Tuesday, with a slide in U.S. Treasury yields helping the haven metal recoup more than a third of what it lost a day earlier, when a rally in the U.S. stock market prompted some settling in bullion.

Gold for December delivery rose $4.10, or 0.3%, to settle at $1,515.70 an ounce, after the commodity gave up $12, or 0.8%, Monday. September silver picked up 20.8 cents, or 1.2%, to $17.148 an ounce, following a 1.1% loss a day earlier.

Front-month oil futures contracts settled higher for a third straight session on Tuesday, 20 August 2019 ahead of U.S. government data that are expected to reveal a weekly decline in domestic crude stockpiles, following back-to-back weekly supply increases. Prices also climbed on Monday, with that rally partly fueled by reports that Yemen's Houthi rebels launched a drone attack over the weekend on one of Saudi Arabia's largest oil fields.

West Texas Intermediate crude for September delivery tacked on 13 cents, or 0.2%, to finish at $56.34 a barrel on the New York Mercantile Exchange, shaking off earlier losses. The front-month contract, which expired at the end of the day's regular trading session, gained 2.4% on Monday. The most-active, and new front-month October WTI contract shed a penny to settle at $56.13.

The October contract for global benchmark Brent crude edged 29 cents, or 0.5%, higher at $60.03 a barrel on ICE Futures Europe, with prices settling back above $60 for the first time in a week.

Powered by Capital Market - Live News