US. Stock index traded on Friday, but on track for weekly losses, as a decline in shares in chip maker…
US. Stock index traded on Friday, but on track for weekly losses, as a decline in shares in chip maker Nvidia helped to dampen feelings in the technology sector.
Nasdaq Composite Index
DJIA, + 0.35%
was down 30 points, or 0.4%, at 7.229, Dow Jones Industrial Average
SPX, + 0.17%
4 points, or 0.1% to 25.307, while the S & P 500 index
decreased 3 points to reach 2 727, a drop of 0.1%.
For the week, Dow puts a loss of 2.6%, S & P 500 is about to decline by 1.9%, while Nasdaq will decrease by 2.4%.
Shares of Nvidia Corp. fell sharply after reporting difficult quarterly results last Thursday, contributing to a week filled with negative triggers.
“Crypto baksmälla” has Nvidia amazing at high-headed holidays
At the same time investors focused on developments in Britain, with the Prime Minister Theresa May challenged his commitment to see Britain leave the European Union, despite several high layoffs and growing doubts about her leadership.
Although the events spell out about 3460 miles from Wall Street, the dilemma would result in a tough Brexit or no trade pact for Britain. It could shout the financial world, believe some market players.
In addition, Brexit drama can raise concerns about slow global growth after the German government announced Wednesday that its economy was gathered in the third quarter for the first time in three years. This is a similar report from Japan this week, which also showed the world’s third largest economy, which contracted in the third quarter.
Uncertainties about US-China customs tariffs remain central to concern for market players. Throughout the week, rapidly changing stories about progress in the negotiations have whipped their own benchmarks.
US. Commercial representative Robert Lighthier’s office on Thursday denied reports that he had told a few people that the next rate of tariffs had been put into service, which had been an early driver of the session’s climb.
shares in Nvidia
fell 17%. Nvidia shares had already fallen 22% over the past three months and the PHLX Semiconductor Index
A popular product for semiconductor shares is down 4.1% in 2018.
The Nvidia sale was made by a Thursday’s earnings release by the company, which showed that Revenue expectations for the third quarter were missing and issued guidance far beyond expectations. The sales were strengthened by Stifel Nicolaus and lowered its price target for the company from $ 200 to $ 250.
Shares chip maker Advanced Micro Devices Inc .
also drops in sympathy.
Nordstrom, Inc . S stock
tumbling 12.7%, after the reseller reported the third quarter results far below analysts expectations.
California utilities PG & E Corp. .