U.S Stocks Pull Back After Yesterday’s Powerful Rally


Following a strong rally in the previous session, U.S. stock-index futures came down today, which means, equity market can now breathe easy.

Following are a few benchmarks:
Dow Jones Industrial Average futures fell by 29 points, while S&P 500 futures fell by 4 points. Nasdaq-100 futures slipped 15 points. The Dow and S&P are up for weekly gains of 1% and 3% respectively, while the Nasdaq Composite may come down by 0.4% depending on yesterday’s close.

Factors driving the market:
As investors continue to keep a close eye on the developments pertaining to the trade policy, there was a hint of optimism on Thursday as the U.S and China prepare to resume trade talks. The optimism was due to the fact that the Trump’s government is on the move to impose sanctions on all countries that buy oil from Iran and the list also includes China.

Stocks in focus

Chip company Nvidia Corp. (NVDA) and chip gear maker Applied Materials Inc. (AMAT) after ending with profits yesterday are on a decline today with each losing -3.10% and -3.77% respectively at the time of writing.

The reason for the decline in Nvidia stocks can be attributed to the decline in the crypto-currency mining sales while the fall of Applied Materials shares may be due the weaker-than-expected guidance of the fourth quarter earnings.   

Stocks of Nordstrom Inc. JWN are on the raise by +7.59% after having surged 9% in yesterday’s session. Tractor maker Deere & Co. DE is down by -3.02% while Bristol-Myers BMY is up by +0.39%.

Investors are closely monitoring geopolitical issues as well as the Turkey’s financial crisis. Though these factors may not have a great impact on the market trend, close monitoring of investors on the final results from the 2nd quarter might prove to be crucial.

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