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Stocks Varied on Sell Off in China as Trade Tensions Escalate

On Thursday, stocks performed bumpily with resistance on declining oil prices. The heavy selling was started in China as retaliation to US-China trade turmoil.

Chief Executive Brian Krzanich was forced to resign after an investigation into having a relationship with a company’s employee. This made Intel swiftly cut losses and recovered from the incident.

On quarterly results, both grocery chain Kroger (KR) and Darden Restaurants (DRI) made a spike. Jumping on earnings news was Bellwether chipmaker Micron Technology (MU).

This provoked an early rally among the makers of chips such as Lam Research and Applied Materials (LRCX).

At the open, the Dow Jones Industrial Average got a 0.3% decline. Meanwhile, Verizon presented the strongest early move on Dow. Boeing (BA), Caterpillar (CAT) and Intel dragged in the bottom of the list.

Meanwhile, Darden, Kroger, and Micron lead the list. The S&P battled against narrow losses.

Dow sets a 100-point increase resisting longest losing streak
An increase of 100 points in Dow plans to resist longest losing streak

Marking another high, the Nasdaq Composite garnered a 0.2% gain. Micron and Western Digital (WDC) held the index’s top four positions. On Wednesday, the Dow added the seventh decrease to its longest pullback.

This drilled a further 25,000 level decline. On one hand, the Nasdaq composite is constantly moving on a weekly advance straight in five weeks. The S&P 500, on the other hand, made a 0.4% decline in Thursday’s session for the week.

The small caps gauges remained exceptional. In an eight-straight week, the S&P Cap 600 and Russell 2000 are performing with new highs. Institutional investors are rotating out of blue chips and into small caps.

There was a hard sell-off in China’s stocks on the escalating concerns in US-China trade turmoil. According to a China’s Commerce Ministry Spokesman, the country was “fully prepared” to strike back for any new US sanctions.

Meanwhile, India followed China and European Union’s move on heaving tariffs as a response to the US imposed trade barriers.

Investors reacted to the 1.4% losses in the index of Hong Kong’s Hang Seng and Shanghai Composite.

STOCKS – Dow sets a 100-point increase resisting longest losing streak 

At Friday’s open, US stock index outlooks increase ahead. This was due to as investors attempted to recover from any fears on US-China trade tensions.

The Dow Jones Industrial Average futures went on a 113-point increase which indicated an optimistic 123.30-point open. In the previous session, the Dow closed lower – first losing streak in eight days throughout the year.

On Friday, if the Dow flops to gain this will bring the first slide in nine days for over 40 years.



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