Market Update: Dow Jones Ended Lower. Fears About Slowdown Dampens Sentiments

Market update

It can be assumed that the fears with respect to the global downturn has again back in the minds of the investors. It seems like the investor are now maintaining their focus towards the earnings season and they should as the week is packed with the earnings. Some of the big technology companies would be coming out with their earnings releases. Apple Inc. (NASDAQ: AAPL) would be disclosing their earnings report on January 29, 2019 while Facebook Inc. (NASDAQ: FB) and Amazon.com, Inc. (NASDAQ: AMZN) would be disclosing the earnings on January 30, 2019 and January 31, 2019, respectively.

On January 28, 2019, Caterpillar Inc. (NYSE: CAT) closed the session in red as the stock price witnessed the fall of US$12.49 per share or 9.13% at US$124.37 per share. However, Nvidia Corporation (NASDAQ: NVDA) also ended yesterday’s session at US$138.01 per share which implies the fall of US$22.14 per share or 13.82%. The earnings results would be impacted by the weaker Chinese economy. Thus, the permanent settlement of the US and China trade battle is utmost importance. Talking about the index, Dow Jones Industrial Average closed the session at 24,528.22 which implies the fall of 208.98 points or 0.84% on January 28, 2019.

What’s Happening to Oil Prices?  

The oil prices would continue to be sensitive to the global macro-economic conditions. The deterioration in the financial markets as well as in the sentiments of the market players would have a negative impact on the oil prices. The increased worries about the global economic slowdown and the unfavourable momentum in the financial markets negatively impact the oil prices these factors increase the tensions about the oil demand. However, Vale SA closed the session on January 28, 2019 by witnessing the huge fall of 24.52% at BRL42.38 per share. The primary reason for the significant downtrend was witnessed because of the sudden blast in its dam.

Australian Markets Closed Lower: What Market Players Should Know? 

Today, the Australian markets closed the session lower as S&P/ASX200 closed the session in red. On January 29, 2019, S&P/ASX200 ended the session at 5874.2 which implies the fall of 31.4 points or 0.5%. The performance of the broader markets would be sensitive to the global factors and to the news about the trade wars between the US and China. The settlement of the battle would positively impact the broader Australian economy. On January 29, 2019, the stocks like Telstra Corporation Limited (ASX: TLS) and St Barbara Limited (ASX: SBM) closed the session by encountering a rise of 7.77% and 7.143%, respectively.

On the other hand, the stocks like Eclipx Group Limited (ASX: ECX) and ResMed Inc. (ASX: RMD) closed the session lower by falling 16.541% and 10.435%, respectively. However, Highland Pacific Limited (ASX: HIG) had come forward and made an announcement about December 2018 quarterly activities. Read the full news here. Lion Energy Limited (ASX: LIO) had also posted the update for the December quarter. In order to read the full news here.

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