US Stock Market Stalls As Indecision Creeps In
By Dale Gillham | Published 01 July 2019
In this week’s US Stock Market Report, Dale shares how the Dow Jones and S&P 500 stalled this week as indecision crept into the US stock market and Trump was again in talks with China last week, reviving trade negotiations. So is this good or bad for the stock market and how has the stock market unfolded over the past week.
The Dow Jones Industrial Average showed signs of indecision closing slightly lower down 0.45 percent while the S&P 500 was down slightly less only 0.29 percent. The top performing sectors on the S&P 500 last week were Materials, up 1.48 percent followed by Financials up 1.47 percent. The worst sectors were Real Estate down 2.73 percent and Utilities down 2.12 percent.
As for the top 100 stocks on the S&P 500, the chip manufacturers were once again leading with Nvidia Corp up 8.22 percent, Broadcom up just over 5 percent and Qualcom up 4.61 percent.
On the flip side Bristol-Myers Aquib was down over 8 percent, followed by ABBVie down 7.69 percent with neither stock looking good at present.
After rising over 50 percent this year, Celgene Corp was down 6.59 percent for the week, so this may be a good opportunity to take a look at this one, which we will do when in get into looking at stocks shortly.
President Trump and Xi Jingping have opened up talks again on the US-China trade war. Right now, things are looking positive, as President Trump has agreed to scale back restrictions on Chinese tech company Huawei and also delay any new tariffs from taking effect.
Any concessions right now is great news for the market although I want to reiterate that there is no quick fix rather I believe these discussions are just another step in what is likely to be a long and slow process. That said, this good news may take the pressure off the Fed to slash interest rates this month, however, it is too early to tell.
So what do I expect in the market this week and what’s the future outlook for the S&P 500? Let’s analyse the charts and we will also look at some stocks of interest. Watch the video to find out.
Dale Gillham is Chief Analyst at Wealth Within and international bestselling author of How to Beat the Managed Funds by 20%. He is also author of the award winning book Accelerate Your Wealth—It’s Your Money, Your Choice.
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