Small losses on Wall Street, PMI continues to grow

Small losses on Wall Street, PMI continues to grow


The stock exchanges in New York opened Friday with mostly small losses. Investors assessed comments from President Donald Trump, among other things. He still wants to step out of the World Trade Organization and thinks of a change in the tax on profits on the sale of, for example, real estate or securities.

The Dow-Jones index was 0.2 percent lower at 25,939 points shortly after the opening bell. The broad S & P 500 dropped 0.1 percent to 2897 points. Tech-heavy Nasdaq was up 0.1 percent at 8098 points.

Trump said a change to be considered in rules for the tax on profits made when selling, for example, real estate or securities. He argued for a regulation that links profit to inflation. As a result, tax settlement for investors who sell assets could be significantly lower. Trumps economic advisor Larry Kudlow has been calling for such a step to lead to more economic growth and jobs.

Coca-Cola knows how to focus on businesses. The soft drink maker announced that it would takeover the British coffee chain Costa, one of the few large coffee chains in the UK, for billions. Coca-Cola shares were flat.

There is also attention for Lululemon Athletica. The yoga clothing company achieved much better than expected figures and gained almost 14 percent. Firearms manufacturer American Outdoor Brands also belonged to the big risers with a rally of 26 percent. Smith & Wesson also came up with better than expected results.

The activity in the industry around the American city of Chicago has grown again in August, but slightly less than a month earlier. That is what market researcher Institute for Supply Management (ISM) announced. The purchasing managers index that measures the business around Chicago went to 63.6 from 65.5 in July.

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Javier Davis produces news on stocks, currencies, bonds, commodities, and real estate. His in-depth research covers most of the major financial markets in America, Europe, and Asia. His research is based on the interconnected relationships among economic and technical factors that drive valuations in the markets, with an emphasis on how to formulate investment strategies. From interest rates to inflation to economic growth and much more, the fundamental concepts presented on this website provide an essential foundation of knowledge for investors to profit in stocks, bonds, commodities, currencies, and real estate markets.