The US stock market failed to conquer new heights

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Today investors are closely watching the macroeconomic data and reports the largest investment banking conglomerates. Data on the state of the U.S. economy are encouraging, and this further reduces the degree of expectations of aggressive easing from the fed. After the macroeconomic data the dollar on the international currency market again grew, as retail sales in June exceeded the forecasts.
Export prices last June fell 0.7% to import even more by 0.9%. This is not in line with expectations – analysts had predicted the indicators is -0.2% and -0.7%, respectively. Meanwhile, retail sales increased in June at 0.4% (the same we saw in may). Industrial production remained at the same levels, and inventories rose in may by 0.3%.
Also their accounts was presented by the three largest investment banking conglomerates in the USA. Yesterday reported JPMorgan Chase, Wells Fargo and Goldman Sachs. Net profit JPMorgan Chase over the past half year increased by 11% compared to the same period last year. The amount was $18,831 billion Wells Fargo in the first six months of the year increased its net profit by 19% to a value of $11,355 billion And Goldman Sachs was in the outsiders capitalist competition – in the first half he reduced the income attributable to shareholders by 14% yoy to $4,38 billion.
In addition to banking giants yesterday reported the company Johnson & Johnson. Its performance increased by 12.4% in the first half and were at the level of $9,356 billion.
Meanwhile, as global investors consider corporate earnings of American companies, the appellate body of the world trade organization stated that the United States can deal with the Chinese sanctions. To avoid this, they need to cancel some fees with the filing of Donald trump. Some of the duties to also violate WTO rules. We can say it is a victory of China in the trade war.
According to Donald trump, the onset of a temporary truce between the two countries should not be equated with the end of the dispute. Before the agreement can be still very far away. And push back this end of may the United States itself. Trump said yesterday that America can impose duties on goods from China worth $325 billion.
So yesterday new heights to the closure of the U.S. stock market was not conquered. In the morning hours grew the Dow Jones Industrial Average trying to update the historical maximum. Overall, however, trading on wall street ended with minor.
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Roman Blinov,
Head of analytical Department,
“International financial center”