US equities end higher despite trade war escalation

  • by Ofeed Team
  • May 31, 2019, 2:48 AM
  • 110 Views
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US stocks rose slightly on Thursday, recovering a small chunk of this week’s losses, despite investors’ lingering concerns over the escalating trade war between Washington and Beijing.

Equities flipped between small gains and losses on Thursday, weighed down by a decline in energy stocks following several jittery and anxious days in markets due to fears of a slowing global economy.

The Dow Jones rose by 0.18% or 43 points, S&P 500 moved upward by 0.21% and Nasdaq closed higher by 0.3%.

Despite the gains, all the three major indexes are still down on the week, where the Dow is on track for its sixth consecutive weekly decline, the longest since June 2011.

US oil prices declined by 0.4% to reach $56.59 per barrel, the lowest level since March 8, with Halliburton, Marathon Petroleum MPC and BHGE experiencing the sharpest declines.

On the other hand, the 10-year Treasury note yield fell below its 3-month counterpart, deepening an inversion of the yield curve, which measures the difference between the yield on the longer-dated Treasury and its shorter-dated counterpart.

The 10-year US Treasury yield fell on Thursday by 0.40%, closing at 22.27. Also, the yield on two-year Treasury bonds slipped to 2.149%.

Ofeed Team

Ofeed’s team is comprised of highly distinguished analysts, with a wide experience in financial markets, having a unique analytical view of developments impacting global financial markets

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