Wall Street and Nikkei Both Under Attack

Wall Street and Nikkei Both Under Attack


U.S. stocks edged lower as investors weighed the tropical storm Harvey, which caused a lot of damage to the energy sector in Texas. Insurers and job companies were also in the spotlight. The Dow Jones index ended a fraction lower at 21,808.40 points. The broad S & P 500 increased 0.1 percent to 2444.24 points and the technology grade meter Nasdaq dropped 0.3 percent to 6283.02 points.

The now-stormed hurricane Harvey has estimated approximately 15 percent of the total US oil winnings temporarily. It is based on further disturbances due to the barren weather that the region is still waiting for. The oil companies Exxon Mobil and Chevron were 0.3 and 0.4 percent lower, but sales in the energy sector have not yet been discussed.

Insurers were more under pressure because of Harvey, even though many Americans are badly insured against water damage. Estimates of material damage range from 24 billion to 40 billion dollars. The insurers Progressive and Travelers dropped 2.3 and 2.6 percent.

Kite Pharma climbed higher on news that Gilead is planning to take over its industry leader for nearly $12 billion.  Online Travel giant Expedia dropped 4.5 percent on news that CEO Dara Khosrowshahi agreed to lead Uber.

T-Mobile introduces new technology for fast mobile internet (4G) in Netherlands that will ensure faster and more reliable data transfer, promises the company. According to T-Mobile, most new smartphones are suitable for the new technology, which is already used in some Asian countries. In the coming months, the equipment will be gradually enabled on the entire network. With that step, the company also says the foundation for its future 5G network.

The stock exchange in Japan ended Tuesday in red. Investors sold their shares and sought safer positions such as gold, the Japanese yen and the Swiss franc, after North Korea fired a rocket to Japan. Also elsewhere in the Far East, the exchanges were under pressure after the new provocation of the communist country.

The Nikkei in Tokyo ended Tuesday 0.5 percent lower at 19,362.55 points. That is the lowest level in almost four months. In South Korea, the Kospi also lost 0.5 percent.

The Japanese securities houses Nomura Holdings and Daiwa Securities were under pressure and lost 0.8 percent.

Toshiba lost 0.3 percent. The Japanese technology company has gotten from its banks until Thursday to solve Western Digital’s problems about the sale of the chip division. Toshiba needs heavy money because of the huge losses on its US nuclear activities and therefore put the chip division in the shop window.

The Hang Seng Index in Hong Kong suffered an interim loss of 0.3 percent and the Shanghai stock exchange dropped 0.1 percent. The All Ordinaries in Sydney dropped 0.8 percent lower the day.

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I am an independent trader currency and commodity with about eight years of experience. I love the financial world because it is like one big puzzle and I hope we help each other out to solve the puzzle to help us realize our dreams. I received my BBA in Accounting (With Honors) - from The University of Texas - San Antonio. Achievements: Beta Alpha Psi National Accounting Honors Fraternity member, Leadership Challenge Participant, Dean's List. I have passed the Series 63, 22, Texas Real Estate exam, and the DRI Business Continuity exam.