giftedviz.com
giftedviz.com August 21, 2018


Wall St. Falls Amid Turkey Woes; Banks, Tech Decline

12 August 2018, 04:12 | Austin Hogan

Turkey turmoil rattles Wall Street, banks take a knock

Dow Jones Industrial Average fall on weak energy stocks

US stocks slid on Friday as a deepening economic crisis in Turkey dragged on bank shares and triggered a move out of riskier assets.

The Nasdaq is up 79.77 points, or 1 per cent.

The Russell 2000 index of smaller-company stocks fell 4.08 points, or 0.2 per cent, to 1,686.80.

A slump in the Turkish lira worsened after U.S. President Donald Trump doubled tariffs on steel and aluminum imported from the country.

"Problems in emerging markets are more important than ever because of the global growth engine that emerging markets have become", Peter Cecchini, chief market strategist at Cantor Fitzgerald in NY, wrote in a note. You worry about the effects on Europe.

The S&P 500 is up 179.97 points, or 6.7 per cent. "You have banks losing because the 10-year U.S. Treasury (yield) came down".

But all three ended the day in the red: the Dow fell 196.09 points (0.77 per cent) to 25,313.14 while the S&P and Nasdaq shed 20.30 points (0.71 per cent) and 52.67 points (0.67 per cent) respectively to finish at 2,833.28 and 7,839.11.

England v India: second Test, day two
The second session will be vital with India still looking to get early wickets to keep England's first-innings lead to a minimum. England came out to bat on the third day and lost two early wickets in the form of openers Alastair Cook and Keaton Jennings.


Manchester United fans delighted with Luke Shaw's performance vs Leicester City
I haven't won the Premier League , I haven't won the Champions League, I haven't won the Euros so there are more to win.


Unmanned NASA craft takes off on mission towards Sun
NASA chief of the science mission directorate, Thomas Zurbuchen, said Parker is an "incredible hero of our scientific community". It is said to endure unprecedented levels of heat, and radiation 500 times greater than that experienced on Earth.


The S&P 500 is up 13.23 points, or 0.5 percent.

"Any time that there's any movement in currencies, financials tend to reap the contagion risks", said Jamie Cox, managing partner for Harris Financial Group in Richmond, Virginia.

Tesla Inc's TSLA.O shares also fell to a two-day low and wiped out all of the gains fueled by Chief Executive Elon Musk's recent tweet announcing a plan to take the company private.

Economic data showing United States consumer inflation rose steadily in July, supporting the case for another interest rate hike next month by the Federal Reserve.

The tech-heavy index was up 0.33 percent at 7,914.22, a quarter of a percent away from hitting an all-time high.

Advancing issues outnumbered decliners by a 1.68-to-1 ratio on the NYSE and by a 1.58-to-1 ratio on the Nasdaq.

Oil prices were down slightly as the escalating China-U.S. trade dispute cast doubt on the outlook for crude demand.



Other News

Trending Now

Bielsa's Leeds maintain ideal start with victory against Lampard's Derby
Opening the scoring within a matter of minutes, Mateusz Klich's early effort was wonderful. The games come too quick and you have to learn on the pitch and you have to learn quick.

Emery in spotlight as Arsenal begin life without Wenger
People ask how will they do, but I know a little bit about the manager and in that situation how good they handle that". Arsenal have won just two of their last 12 encounters with Man City in all competitions.

Trump Calls Omarosa A 'Lowlife' Ahead Of Her Book Release
Manigault Newman went on to become Assistant to the President and Director of Communications for the Office of Public Liaison. White House press secretary Sarah Sanders said: 'This book is riddled with lies and false accusations.

Tesla shareholder tells IGTV he’s 'not thrilled' about the take-private plan
Musk said via Twitter on Tuesday that the deal was contingent on a shareholder vote but that "investor support is confirmed". Mr Musk tweeted on Tuesday that he had secured funding for the plan, but he has not provided details or evidence.

US Judge Halts Deportation, Threatens Sessions with Contempt
As part of that decision , Sessions said gang and domestic violence in most cases would no longer be grounds for receiving asylum. District Court for the District of Columbia. "I'm not happy about this at all", Sullivan said. "This is not acceptable".

Bitcoin Price Falls Drastically After Bitcoin ETF Decision is Postponed
This is the highest level since December 20, 2017, just days after bitcoin hit its record high of $19,783.21 on December 17. These are certainly amongst the most important decisions regarding the further development of the cryptocurrency markets.

Chinese state media accuse US of mobster mentality, vow to fight tariffs
Element Electronics, a TV manufacturing plant in SC , will layoff at least 126 employees from its Winnsboro plant on October 5th. The government could force Apple into a corner, helping Samsung and local Chinese companies pick up market share in the process.

Pres. Trump Sends Single Tweet Condemning Racism On Charlottesville Anniversary
Students say they're disgusted with the school because it didn't waive medical feels for last year's rally victims. Carlson said police didn't intervene to help her or her friends that night a year ago .

Pogba leads Man Utd to winning start
It's over, the market is closed. "I think football is changing and probably football managers should be called head coaches". Boss Jose Mourinho selected the £89m signing despite his lack of pre-season following an extended post-World Cup rest.

Space Force: Prez Trump 2020 asks supporters to vote on logo
Defense Secretary Jim Mattis , once opposed the idea of a Space Force , they lined up on Thursday to offer their support. Kosal , an associate professor in the Sam Nunn School of International Affairs at the Georgia Institute of Technology.