© Reuters. Traders Collapse on the NYSE in New York
By Shreyashi Sanyal and Amy Caren Daniel
(Reuters) – US equities rose on Monday, retreating as industrial and consumer goods stocks rose, but profits were curbed by worries about a global slowdown.
Weak data from the US, Europe and Japan on Friday sparked a sell-off in US equities and also reversed US government bond yield curve for the first time since 2007.
A reverse yield curve is widely regarded as a leading indicator of recession.
"Gains and interest are driving markets, and we are in a position where interest rates are falling and the US Federal Reserve has basically told you that the economy is slowing down, so you need to be wary of profits." said Dave Ellison, Portfolio Manager at Hennessy Funds in Boston.
The US Federal Reserve last week decided not to raise interest rates this year.
"Tech stocks are hit by a weakening economy and people do not want to pay a heavy price for an industry that is likely to slow in growth," Ellison added.
Apple (NASDAQ 🙂 Inc. reported a 0.3 percent decline in the technology sector.
It is widely expected that the iPhone maker will launch its video streaming service at an event later in the day.
The consumer discretionary sector rose 0.82 percent, supported by gains at Home Depot Inc. (NYSE 🙂 and Amazon.com Inc. (NASDAQ :).
Investors have largely rejected Special Forces Attorney Robert Mueller's report that President Donald Trump's campaign did not work with Russia, although he had initially risen on Sunday.
The report left unanswered the question of whether Trump obstructed the judiciary by obstructing the investigations that burdened his presidency.
At 11:39 CET, the increase was 71.89 points, or 0.28 percent, to 25,574.21 and the rise was up 5.04 points, or 0.18 percent, to 2,805.75 and the rise was 9, 98 points or 0.13 percent at 7,652.65.
Top US officials travel to Beijing for the final round of high-level talks to begin on March 28.
Boeing (NYSE 🙂 Co rose 1.4 percent, helping to boost the industrial sector by 0.55 percent.
The aircraft maker said he will inform pilots and regulators this week about software and training updates for the 737 MAX aircraft, with Ethiopian Airlines and Qatar Airways expressing their confidence despite a recent crash.
Akamai Technologies (NASDAQ) 3.4%, the largest S & P value, according to a report that the brokerage Deutsche Bank (DE 🙂 had downgraded the stock to "hold " for sale".
Viacom Inc shares rose 6.6 percent. Most of S & P after the company extended a contract with AT & T Inc. (NYSE 🙂 to continue its services. AT & T holds 0.6 percent.
Increasing emissions prevailed at a rate of 1.33 to 1 on the NYSE and a rate of 1.23 to 1 on the Nasdaq.
The S & P Index posted four new highs of 52 weeks, six new lows, while the Nasdaq recorded 17 new highs and 86 new lows.