Home » Economy » +++ Stock Exchanges +++ – Wall Street Doubts Trumps Growth Promises News

+++ Stock Exchanges +++ – Wall Street Doubts Trumps Growth Promises News

Thursday, August 17th, 2017 | Economy

There are growing doubts in the stock exchanges that Trump is able to push through its plans to boost economic growth. This was triggered by the decision of the President to dissolve two advisory committees with corporate heads. According to Trumps, controversial statements on the right-wing riots in Virginia, several top executives had withdrawn from protest. For additional pressure on the courses caused the attack in Barcelona, ​​where a Kleintransporter drove into a crowd. According to official data 13 people were killed and at least 50 injured.
In the market, speculation was spreading that now Trumps economic consultant Gary Cohn, who is traded as a hot candidate for the top Fed Fed Fed, Should this be the case, it would be very difficult for the president to drive his taxation, says Marktstrategy Art Hogan of Handelshaus Wunderlich Securities. Shortly there was a slight relief in the New York Stock Markets, after Cohn was told that he would remain in office despite his dismay at Trumps.
The Dow Jones index of the default values ​​is 1.2 per cent deeper from trading with just under 21'751 points. The broader S & P 500 drops 1.5 percent to 2430 meters. The Nasdaq technology index loses 1.9 percent to around 6222 positions.
The losers include financial assets. "Banks had high hopes that Trump would abolish some of the rules and restrictions imposed after the financial crisis of 2008," said analyst Henry Croft from the Accendo brokerage house. J.P. Morgan and Goldman Sachs, for example, who have already surrendered on Wednesday, will pay up to 1.9 percent.
On the sales list were also Cisco Systems, which 4 percent decrease. The network equipment supplier disappointed the expectations of experts with his sales growth in the highly regarded security department.
The company also focused on Wal-Mart shares with a drop of 1.6 percent. The retail trade showed declining profit margins due to ongoing price reductions and investments in the Internet business.
The Swiss stock market went down on Thursday. After the recent recovery, investors went to profit-taking, traders say. The SMI drops by 1 per cent to 8945 points until the stock exchange closes and slides into the lower half of the trading range, which has been in force for some time, ranging from 8800 to 9200 meters.
The US National Bank's meeting report, published the evening before, did not provide any incentive to buy, it is said on the market. In particular, the insignia is a damper, according to a trader. A further increase in key interest rates is not to be expected. Fed members are preparing low inflation headaches. Similarly, according to ECB protocols, the European monetary policyholders, who are afraid of a price change because of their low inflation, also expressed their opinion.
Above all, shares of banks are one of the major price reducers across Europe. The shares of Credit Suisse and UBS each contributed 1.9 percent. "The expectations of higher returns and the prospect of more profit have been dampened by the Fed protocol," says a trader. On the other hand, the shares of St. Gallen Kantonalbank hold a 0.7 per cent minus, according to a better than expected half-year result. Insignificantly weaker are also insurance values.
However, Geberit recorded the largest discount among the standard values ​​with a minus of 5.8 percent. The sanitary engineering company missed the expectations of the analysts in the first half of the year. At CHF 1.47 billion, sales were stagnating and the profit fell by almost one-fifth to CHF 258 million due to special charges. A trader spoke of profit-taking after the sharp price rise before the balance sheet publication. "Investors have been disappointed in their expectations."
The shares of Kudelski are also under pressure with an 11 per cent slump in health. The specialist for TV ciphers showed more sales after six months, but lowered the operating profit forecast.
The Hochdorf titles fell by 1.6 percent. The milk processor disappointed investors, among other things, with a profit warning.
On the other hand, the Swisscom Group surprised Swisscom with more half-year profit and a forecast increase. The shares nevertheless slump 0.5 percent. Traders speculate that the prospect of an unchanged dividend caused disappointment.
Straumann's shares are gaining 11 percent after a surprisingly high half-year profit and the advance into a promising market. The result is convincing and the acquisitions supplement the pleasing picture, commented ZKB analyst Sibylle Bischofberger.
The Tecan shares are up 8.6 percent thanks to price increases and the recommendation of Credit Suisse and the broker Kepler Cheuvreux.
From Nestlé and Roche, which are regarded as resistant to crises, are outperforming the market with price drops of 0.7 and 0.4 percent. The Novartis shares, on the other hand, are losing 1.6 percent. (Read the full exchange commentary on Thursday.)
The US stock exchanges on Thursday were burdened by a dispute between President Donald Trump and high-ranking managers with share losses in the trading started. Because of the criticism of his comments on the right-wing riots in Virginia, Trump set up two advisory boards with corporate heads. Therefore, Börsians doubt the implementation of its economic plan.
The Dow Jones index of default values ​​drops 0.2 percent to 21,973 points in the first trading minutes. The broader S & P 500 drops by 0.3 percent to 2461 counts. The Nasdaq technology index has fallen by 0.3 percent to 6323 points.
Wal-Mart shares account for 3 percent of the individual stocks, although the world's largest retailer increased its sales on a comparable basis for the third consecutive year thanks to higher customer numbers and a flourishing online business. On the other hand, Alibaba's shares are up by more than 4 percent. The shops at the Chinese Amazon rivals are running better than expected.
Alibaba blows past estimates https://t.co/WMRrg6QA7e pic.twitter.com/xGGcN4tC3r
– Business Insider (@businessinsider) August 17, 2017
Cisco Systems, on the other hand, are on the sales lists of the Börsians. The bills cost 3.5 per cent. The network equipment supplier failed to meet the expectations of the experts with its sales growth in the security department. Even the classic, much larger business with routers was weaker than predicted in the past quarter.
L Brands' sales and earnings decline. The shares of the parent company of the underwear supplier "Victoria's Secret" and the cosmetics brand "Bath & Body Works" slipped over 7 percent.
The Swiss equities market continues to record a clear decline on Thursday at noon. The SMI as the most important Swiss stock index fell clearly below the mark of 9000 points at the beginning of the session, then recovered somewhat and has since moved more or less sideways at around 8980 meters. After the slight advances on the previous day, however, the mood has already deteriorated again, says the market. Traders make the reasons especially in the US economy and politics.
The SMI is down 0.6% lower at 8986 points, with a (previous) 8946 or -900 high of 9003. The 30 SLI stocks, which do not contain the largest weightings, lose their weight 0.6% to 1433 and the broad SPI 0.4% to 10'244 digits. Of the 30 SMI / SLI titles, 23 are recorded in minus, 6 in plus and 1 (Partners Group).
Clearly the biggest losers among the blue chips are Geberit (-5.3%), the title of the day clearly falling behind. With its half-year figures, the sanitary engineering company has not been able to meet the high expectations and is punished accordingly. In particular, the development in Germany was disappointing, says an analyst. Since the paper had also profited most from the weak Swiss franc and the strong euro, many investors are now taking the profits of the last few weeks.
The figures for Swisscom (-0.5%) are much better received, with the stock slipping quickly into the downward after a good start. The largest Swiss telecom operator has clearly outperformed expectations on the profit side, with experts particularly calling EBITDA "convincing". The cost program shows clear effects, it says. But the Italian subsidiary Fastweb is also happy again.
In addition, the largest losses are borrowed from Aryzta (-1.6%), which were among the best on the previous day, as well as the two big bench titles UBS (-1.3%) and CS (-1.1%). But also Swiss Life (-0.6%) will have to accept somewhat more significant losses in the wake of the figures from the previous day, despite price increases by analysts. Novartis (-0.7%), slightly below the gross capitalized values, are slightly above Roche and Nestlé (-0.4% each).
Sonova (+ 3.3%), the modest initial winnings have clearly expanded by midday. The hearing aid manufacturer launched a new 2.4 GHz wireless chip, as he communicated. This allows direct connectivity to each mobile phone as well as the connection between two hearing devices using a single wireless technology. Sika (+ 0.9%) as well as Lonza and Dufry (+ 0.7% each) are also relatively sought after.
The focus is also on some titles from the broad market. Straumann (+ 9.5%) are particularly sought after. In addition to its figures, the dental implants manufacturer has reported the entry into orthodontics. He accepts, among other things, The US provider Clearcorrect for a purchase price of approximately 150 million dollars, which is greeted by analysts. (Read the full stock market report for lunch.)
Investors on the Swiss stock exchange retreated on Thursday. According to the latest uptrend, profit-taking is nothing extraordinary, say traders. In addition, the foreign regulations were behavioral and the turmoil in the US government, according to dealers had a negative impact on the mood. President Donald Trump set up two advisory committees with heads of the company on Wednesday after several members resigned in protest against his statements on the right-wing violence in Virginia.
The SMI lost 0.7 percent to 8973 points. On Wednesday, the leading index had grown 0.3 percent.
The Fed's meeting reports published on the eve of the previous day did not provide any incentives to buy, they say on the market. A further increase in key interest rates is not to be expected. The low banknotes prepare the central bank for headaches. A confirmation of this assessment is expected by investors from the US economic data published in the course of the day.
The company results are the impetus for individual shares. Geberit is at the center of interest. The stock breaks by 6.8 percent. With its interim report, the sanitary engineering company missed the analysts' estimates. In the first half of the year, sales stagnated at 1.469 billion Swiss francs and the profit fell by almost one-fifth to 258 million Swiss francs due to one-off and integration costs. Traders spoke of profit-taking as the stock had risen sharply before the figures. "Investors have been disappointed in their expectations," said a trader.
The shares of Kudelski are also depressed by minus 4.9 per cent. The encryption specialist has recorded more sales, but the Ebit forecast has been lowered.
Hochdorf is also under pressure. The milk processor disappointed investors, among other things, with a profit warning. The share lost 6.5 per cent.
On the other hand, Swisscom surprised with more profit and a forecast increase. The dividend should remain unchanged at CHF 22. Nevertheless, the share slips.
Straumann's shares gained 7.6 percent. The profit rose more than expected to 141 million Swiss francs. In addition, the dental implant manufacturer surprised with surgeries – including one in the US for 150 million dollars. The result was convincing and the acquisitions made a pleasing impression, commented Sibylle Bischofberger from Zürcher Kantonalbank.
The shares of the banks are retiring. "Expectations of higher returns have been dampened by the Fed protocols," a trader said. UBS fell by 1.4 and Credit Suisse by 1.1 percent. Insurers also weaken the majority.
The shares of the Nestlé food group, with a negative impact of 0.3%, are better than the market. Novartis is 0.8 and Roche's 0.7% lighter for the pharmaceutical companies.
Shares of cyclical companies like Lafarge-Holcim, Swatch and ABB lose up to half a percent.
The Swiss Market Index (SMI) is trading at a low of 0.9 percent at 8955 points. After the improved mood and slight advances on the previous day, a turnaround is already emerging. Traders refer to the Fed's previous bill published the previous evening.
Significant pressure comes from Geberit (-5.1 percent). The plumbing technician has published his half-year figures before the stock market, and can not fully meet the high expectations. Swisscom (+0.7 per cent) will start the trade better. The largest Swiss telecom provider has clearly outperformed expectations on the profit side. A compensation from a legal case at the Italian subsidiary Fastweb should have helped, according to the market.
The rest of the SMI titles open up practically all in the red area. In addition, a further twelve small and midcaps have disclosed their half-year figures, including Kudelski and Straumann (+2.5 percent). The technology group has clearly missed the EBIT forecasts, while the dental implant manufacturer has reached the estimates and has also announced the entry into orthodontics.
Other companies that published the half-year report include Ascom (+1.7 percent), Bank Linth, Bell (+0.4 percent), BCV (+0.3 percent), Cham Paper (-2 percent), Cicor (+4.81 percent), Hochdorf (-2.2 percent), SGKB (-0.2 percent), Walter Meier (-1 percent) and Von Roll (+1.3 percent). Tecan (+2.6 percent) are still on the up. The laboratory equipment manufacturer had significantly increased the number on the previous day and could now benefit from various price increases.
– Asia stocks mixed- Tencent boost- Yen stronger- Dollar falls- Fed minutes- Oil riseshttps: //t.co/sDqFKXzMO8 pic.twitter.com/KVpsTgbmUE
– Bloomberg (@business) August 17, 2017
Meanwhile, the stock markets in Asia are closed. The MSCI index for equities outside Japan was up 0.4 percent. The largest winners were once again the index in South Korea, which was up 0.6 percent. The courses also started in Shanghai. On the other hand, the Nikkei index dropped 0.14 percent to 19,702 points. Export companies, in particular, made the attractive yen. Little attention was paid to the fact that Japanese exports rose in July due to strong demand from abroad for the eighth consecutive month. Previously, the growing tensions between US President Donald Trump and the domestic economy had dampened the sentiment on Wall Street. The trigger was the dissolution of two advisory committees with corporate executives by Trump.
According to the pre-market data of Bank Julius Baer, ​​the Swiss Market Index (SMI) is trading 0.2 percent lower at 9024 points. During the last trading days, the leading index had risen sharply. After half-year figures, the shares of Geberit and Swisscom are the focus of investors. Swisscom benefited from, among other things, compensation from legal proceedings. The stock increases by 1.4 percent in advance. Geberit was only able to keep sales short, which led to a much lower share (-3.6 percent).
Video: CEO Urs Schaeppi on half-year result 2017 https://t.co/NpX68nYAUN
– Swisscom News d (@Swisscom_News_e) August 17, 2017
The heavyweight titles of Nestlé, Noavartis and Roche are all expected slightly lower. Likewise, the two major banks, Credit Suisse and UBS.
The shareholders' attention is also focused on monetary policy in the USA. The minutes of the recent Fed meeting, published on Wednesday evening, were an indication that a further increase in key interest rates is not yet in the pipeline. At the same time, Börsians are eagerly awaiting inflation from the euro zone. A persistently low rate of inflation could give new impetus to the discussion about the planned streamlining of the ECB's monetary policy.
On Wall Street, the stock exchanges lost a part of the profits on Wednesday after US President Donald Trump resolved two advisory boards with corporate heads. This dampened the hopes of investors that Trump could make promises of tax cuts and infrastructure projects. The Dow Jones ended the session 0.1 percent higher at 22,024 meters, while the Nasdaq won 0.2 percent. The S & P500 also rose by 0.1 percent. In Tokyo, the Nikkei index fell by 0.1 percent on Thursday to 19.708 counts. The Chinese Shanghai Composite rose 0.3 percent to 3258 points.
The euro is currently trading at 1.1362 francs, slightly lower than on Wednesday evening. The exchange rate for the dollar is also slightly unchanged at 1.178. The dollar-franc exchange rate stood at 0.9645 (-0.13 percent).
The oil prices increase on Thursday morning. The Brent North Sea is 50.52 dollars (+0.5 percent), while WTI is 46.93 dollars (+0.32 percent). On Wednesday oil prices could only benefit from an unexpectedly sharp fall in US oil reserves.
The Nikkei index, which is 225, was down 0.1 percent in the morning trading session at 19,701 points. The broader topix index also lost 0.1 percent to 1614 counts.
The growing tensions between US President Donald Trump and the domestic economy had dampened the mood on Wall Street on Wednesday. The trigger was the dissolution of two advisory committees with corporate executives by Trump. In New York, the Dow Jones index fell 0.1 percent higher at roughly 22,025 points. The broader S & P 500 also gained 0.1 percent to 2468 counts. The index of the Nasdaq technology market rose 0.2 percent to 6345 positions.
Asia mkts mildly higher on dovish CenBank headlines from FOMC minutes & ECB sources. It helps that geopolitically. pic.twitter.com/uGg33edOqv
– Holger Zschaepitz (@Schuldensuehner) August 17, 2017
(Cash (Reuters / AWP)


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