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The markets were not able to confront the negative momentum being witnessed in the technology stocks, and now it seems like the retailers have also joined the league impacting the sentiments of the global investors. On November 20, 2018, Dow Jones Industrial Average ended the session in red by declining 551.80 points or 2.21% and settling at 24,465.64. The primary reasons which impacted the markets yesterday were the decline in the Target Corporation (NYSE:TGT) shares as well as in some of the popular technology stocks. The fall in the Target shares impacted the retailers as well. Targetâs earnings failed to impress the market players as the company reported weaker-than-expected results. Moreover, the companyâs forecasted same-store sales were also lighter than expected. Coming to the technology sector, the market participants are still concerned about the performance of Apple (NASDAQ:AAPL) stock as the worries about the sales of the iPhone continue to weigh on the minds of the investors. Moreover, the stock price of Apple witnessed the decline of 4.78% on November 20, 2018. The market players need to remember that the decline in the technology stocks significantly impacts the performance of the broader markets.
Finally, Oil Prices Managed to Rise: Letâs Have A Look
After a significant decline, the oil prices managed to witness an upward momentum and the primary drivers which helped the positive momentum were increased Indian crude imports coupled with the fall in the US commercial crude inventories. However, the investors are still worried among the outlook for the oil prices because International Energy Agency or IEA expects that the oil markets might get impacted because of the political as well as economic environment risks. However, even though some optimism was observed in the oil prices, the market players are of the view that the bounce was little when compared to the decline in the previous session. As per the market experts, there is a requirement of the fundamental catalyst for the price stabilisation and then, eventually, creating an upward momentum. Moreover, to witness further improvement in the oil prices, the market players need to wait for the supply cuts from the OPEC as well as further proof of increased demand. Needless to say, the downturn in the global markets raises the concerns for the demand of the oil which adversely affects the oil prices.
What Could Support the Australian Markets
On November 21, 2018, the Australian markets ended in red S&P/ASX 200 settled at 5642.8 which implies a fall of 29 points or 0.5%. Trade Me Group Limited (ASX:TME) ended the day by witnessing a strong positive momentum as the stock settled at A$5.570 per share which implies an intraday rise of A$0.790 per share or 16.527%. Read the full news here. However, Sonic Healthcare Limited (ASX:SHL) ended the day at A$22.450 per share which implies that the stock rose A$0.880 per share or 4.08%. Wesfarmers Limited (ASX:WES) and CYBG PLC (ASX:CYB) ended todayâs session by declining 27.725% and 19.866%, respectively.
On November 21, 2018, Wisetech Global (ASX:WTC) conducted 2018 Annual General Meeting or AGM in which primarily the FY 2018 performance was discussed. Read the full news here. The mining sector has managed to perform better on November 21, 2018 because of the electric cars as well as gold. Read the full news here. The market participants are of the view that it is in the interest of the Australian stock markets if the trade battle between the US and China ends. The Australian market trackers stated that if the meeting between the US and China at G20 Summit ends on the positive note, the Australian markets might be helped.
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