Wall Street slides, ASX set to fall; BP-Shell merger rumours
General Mills, the company behind Pillsbury and Progresso soups, exceeded the profit forecasts after the analysts reported a weaker income than expected after the last quarter declared a weaker income. He also said that a underlying profit measure may decrease by 10 percent in this next financial year.
On the winning side of the Wall Street, Bumble said that the online dating platform will save approximately 30 percent of the labor force or 240 jobs up to $ 40 million at annual costs.
Quantumscape collected 30.9 percent after announcing a breakthrough in the process of making solid state batteries. Solid state battery technology promises to improve the electric vehicle range, reduce charging times and minimize the risk of battery fires. However, the investigation of the batteries is expensive and is difficult to produce on a large scale, which has a reputation for them to be a sacred bowl for battery engineers all over the world.
Meanwhile, companies in the crypto currency industry have increased as Bitcoin’s price continued to evaporate with investors willing to take more risks. Coinbase Global, crypto exchange, Bitcoin exceeded US $ 107,000, while 3.1 percent climbed.
They all said the S&P 500 fell to 0.02 to 6.092.16 points. The Dow Jones fell to 106.59 an average of industrial, and Nasdaq Composite rose from 61.02 to 19.973.55.
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In the bond market, treasury returns were relatively constant and the return on the 10 -year Treasury rose from 4.30 percent to 4.28 percent late on Tuesday.
The federal reserve chairman said that the day before the right moment expects to continue the reduction interest rates, the yield had fallen the day before. By lowering the rates, the FED can support the economy, but it can also offer additional fuel for inflation.
FED President Jerome Powell said he wanted to wait again on Wednesday and see how President Donald Trump’s tariffs affect the economy and inflation before moving on to the next move. In the statement before a Senate Committee, Powell reiterated most of his statements the day before he spoke at the House of Representatives and said, “For now, before thinking about any arrangement made in our policy stance, he was well positioned to wait to learn more about the possible course of the economy.” He said.
In the stock exchanges abroad, the indices fell modestly in Europe after rising in most Asia.
Hong Kong increased by 1 percent in Shanghai for two of the movements of 1.2 percent or larger.
“The world may now face other difficult choices such as tariffs and things like that, Frances said Frances Lun, Geo Securities CEO in Hong Kong. “I think the Sunday is on its way to recovery and can reach new levels again.”
AP
Market Summary Bulletin is a winding of the trade of the day. Take each onetoKday afternoon.
