The stock market in the United States decline today except the Dow Jones Industrial Average (DJIA), up by 0.06. The S&P 500 dropped 0.08 while the NASDAQ fell 0.56%.
Today, investors are monitoring the potential resolution to the conflict in Ukraine. Russian President Vladimir Putin presented an outline for a peace plan for Ukraine after his agreement with Ukraine President Petro Poroshenko on measures toward a ceasefire.
What can past market crashes teach us about the current one?
The markets have largely recovered since the March selloff, but most would agree we're not out of the woods yet. The COVID-19 pandemic isn't close to being over, so it seems that volatility is here to stay, at least until the pandemic becomes less severe. Q2 2020 hedge fund letters, conferences and more At the Read More
Heinz-Gerd Sonnenschein, a strategist at Deutsche Postbank AG in Bonn, told Bloomberg, “The cease-fire in Ukraine is very important. People are beginning to wonder whether there will finally be a conclusion to the crisis, and if investors can focus on other factors, like economic indicators and central-bank policy.”
The services activity in the European region decline more than expected, which strengthened speculations regarding the possibility that European Central Bank President Mario Draghi would announce additional stimulus. In the United States, the manufacturing sector expanded in July. The orders for U.S. factory goods increased 10.5% in July, the largest gain since 1992. In China, data showed that the non-manufacturing activity in the country climbed last month.
- Dow Jones Industrial Average (DJIA)- 17,078.28 (+0.06%)
- S&P 500- 2,000.72 (-0.08%)
- NASDAQ- 4,572.57 (-0.56%)
- Russell 2000- 1,172.09 (-0.63%)
- EURO STOXX 50 Price EUR- 3,218.84 (+1.28%)
- FTSE 100 Index- 6,873.58 (+0.65%)
- Deutsche Borse AG German Stock Index DAX- 9,626.49 (+1.26%)
- Nikkei 225- 15,728.35(+0.38%)
- Hong Kong Hang Seng Index- 25,317.95 (+2.30%)
- Shanghai Shenzhen CSI 300 Index- 2,408.84 (+0.94%)
Stocks in Focus
The shares of Apple Inc. (NASDAQ:AAPL) declined more than 4% to $98.94 per share, days prior to the official launching of its new iPhones. Analysts at Pacific Crest Securities indicated that they would likely downgrade their Outperform rating for the stock unless the company shows “massive incremental profit opportunities” during its event.
The stock price of Delta Air Lines, Inc. (NYSE:DAL) declined more than 5% to $38.82 per share after the company reduced its operating margin outlook for the third-quarter. The airline carrier also warned that jet fuel prices would likely exceed its previous estimates.
Mobileye NV (NYSE:MBLY) gained more than 9% to $46.97 per share prior to the release of its second-quarter earnings results. The company received a consensus stock rating of Buy and average price target of $45.44 per share from eleven investment research firms.