Sri Lanka's expat remittances up in June '25    CBE's Abdalla attends Arab central bank governors' meeting ahead of Sept summit    Egypt's gold prices grow on July 13th    Egypt's Health Min. discusses drug localisation with Sandoz    New expansion projects, public-private partnerships to modernize, localise industry: El-Shimy    Al-Sisi attends high-level African summit to strengthen continental coordination, regional integration    Al-Wazir inaugurates glass factory, lays foundation stone for new appliance plant at Elaraby Group    Egypt, Mexico discuss environmental cooperation, combating desertification    Egypt launches anti-drug awareness campaign for drivers    HDB expands national footprint with 'Acacia' branch in New Cairo    Lavrov warns against anti-Russia alliances in Asia during North Korea visit    Germany faces recruitment hurdles in push to rearm, eyes conscription    Needle-spiking attacks in France prompt government warning, public fear    Foreign, housing ministers discuss Egypt's role in African development push    Egypt's EDA, Haleon discuss local market support    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt, France FMs review Gaza ceasefire efforts, reconstruction    CIB finances Giza Pyramids Sound and Light Show redevelopment with EGP 963m loan    Greco-Roman tombs with hieroglyphic inscriptions discovered in Aswan    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Egypt condemns deadly terrorist attack in Niger        Sisi launches new support initiative for families of war, terrorism victims    Egypt's GAH, Spain's Konecta discuss digital health partnership    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Wall St. ends week on down note as Apple weighs
Published in Amwal Al Ghad on 18 - 06 - 2016

Wall Street ended lower on Friday as Apple dragged down major indexes and investors girded for Britain's vote next week on its European Union membership.
For the week, the three indexes each posted declines of at least 1 percent, with the Nasdaq falling nearly 2 percent.
The possibility that Britain will vote to leave the EU on June 23 has been rattling global markets. U.S. stock markets could see heavy trading and increased volatility as investors position for next week's referendum.
"I don't think we're going to escape this until Thursday," said Jim Paulsen, chief investment strategist at Wells Capital Management in Minneapolis. "We're just going to be tied to those anxieties going up or down between now and the Thursday vote."
The Dow Jones industrial average .DJI fell 57.94 points, or 0.33 percent, to 17,675.16, and the S&P 500 .SPX lost 6.77 points, or 0.33 percent, to 2,071.22.
The tech-heavy Nasdaq Composite .IXIC dropped 44.58 points, or 0.92 percent, to 4,800.34.
Apple (AAPL.O) shares fell 2.3 percent. Apple said its iPhone 6 and 6 Plus were still available for sale in China after Beijing's intellectual property regulators barred sales, saying the designs had infringed a Chinese company's patent.
"There seems to be this perpetual stream of kind of quasi-negative news surrounding some of the really big market cap stocks, like Apple particularly, and anytime you have got Apple misbehaving that tends to put a damper on the averages," said Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana.
Fears over Brexit undercut the S&P 500's momentum after the benchmark index came within about 12 points of its record closing high last week. On Thursday, Wall Street had snapped a five-session streak of declines.
"Risk appetite has declined because of the Brexit vote," said Jeremy Zirin, head of investment strategy at UBS Wealth Management Americas in New York.
On Friday, five of the 10 S&P sectors ended lower. Energy shares .SPNY were the best-performing group, gaining 0.8 percent, as oil prices jumped.
Recovering oil prices have helped the U.S. stock market rebound some 14 percent since mid-February. The S&P is now up more than 1 percent for the year.
The healthcare sector .SPXHC was the biggest laggard, falling 1.1 percent, as Merck (MRK.N) and Johnson & Johnson (JNJ.N) declined.
Tech shares .SPLRCT dropped 0.9 percent. The sector's declines were limited by Oracle (ORCL.N), which rose 2.7 percent to $39.68 after better-than-expected quarterly revenue. The stock gave the biggest boost to the S&P.
Nearly 9 billion shares changed hands on U.S. exchanges, well above the 6.7 billion average over the past 20 trading days, according to Thomson Reuters data.
Advancing issues outnumbered declining ones on the NYSE by 1,844 to 1,156, for a 1.60-to-1 ratio on the upside; on the Nasdaq, 1,599 issues fell and 1,231 advanced for a 1.30-to-1 ratio favoring decliners.
The S&P 500 posted 12 new 52-week highs and 2 new lows; the Nasdaq recorded 39 new highs and 41 new lows.
Source: Reuters


Clic here to read the story from its source.