The Dow Jones industrial average was down 122 points, while\nthe Standard & Poor’s 500 Index fell 0.5%. While the Nasdaq Composite\nComposite Index fell more than 0.7%.<\/p>\n\n\n\n
Apple shares fell more than 2% after an analyst at\nRosenblatt Securities lowered his rating of the stock to \u201csale\u201d from\u201dneutral\u201d.\nThe analyst declared that Apple\u2019s stocks will “face fundamental\ndeterioration over the next 6 to 12 months” as the company\u2019s iPhone sales\ndeclined and the growth of other products slowed.<\/p>\n\n\n\n
Other technology stocks such as NetApp and Juniper Networks\nalso fell. Micron technology, Applied Materials and Lam research also declined\nby more than 1%.<\/p>\n\n\n\n
Wall Street also looks forward to Federal Reserve Chairman\nJerome Powell’s testimony on Wednesday. Powell’s testimony comes after a\nstronger-than-expected jobs report caused market participants to question\nwhether the Fed would cut interest rates later this month.<\/p>\n\n\n\n
Employment data on Friday surprised the market, which\nreduces the likelihood that the Fed will act, as they will likely have to\ngather more evidence before deciding on the next step in monetary policy.<\/p>\n\n\n\n
The Federal Reserve opened the door to lower interest rates\nlast month after saying it would “act as appropriate” to maintain the\ncurrent economic expansion of the United States, which seems to be the longest\never.<\/p>\n\n\n\n
” I think that this will be one of the most important\nweeks of Chairman Powell\u2019s 2019 career. I think the market has expectations of\na quarter point at minimum rate cut at the end of July, yet the Fed really\nhasn\u2019t concluded that that is going to occur yet,\u201d said chief market\nstrategists. \u201cThis is the week that either Chairman Powell needs to guide the\nmarket into what they believe they are going to do that could be different or\nhe needs to concur with the market,\u201d.<\/p>\n\n\n\n
Major indexes saw some strong gains last week, recording new\nall-time highs.<\/p>\n\n\n\n
In another context, gold prices could continue to rise even\nafter hitting their highest levels in several years last week. Prices are set\nto “reach $2000 by the end of the year”, predicted financial\nstrategists.<\/p>\n\n\n\n
Spot gold prices reached $1422.85 on June 25, their highest\nlevel in more than six years. Gold futures were also the highest since August\n2013, reaching the price of $1,417.70. Gold prices have been recently trading\non an uptrend amid recent expectations of a Fed rate cut and rising\ngeopolitical concerns – factors that may affect the stock market.<\/p>\n\n\n\n
However, gold prices fell slightly on Monday, with the\nmarkets potentially responding to the US announcement on Friday that\nstronger-than-expected non-farm payrolls have been recorded. This report eased\ninvestors\u2019 expectations of a possible rate cut by the Federal Reserve.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Dow Jones industrial average was down 122 points, while the Standard & Poor’s 500 Index fell 0.5%. While the Nasdaq Composite Composite Index fell more than 0.7%. Apple shares fell more than 2% after […]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":1276,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3,4],"tags":[],"_links":{"self":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/1275"}],"collection":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/comments?post=1275"}],"version-history":[{"count":1,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/1275\/revisions"}],"predecessor-version":[{"id":1277,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/1275\/revisions\/1277"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media\/1276"}],"wp:attachment":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media?parent=1275"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/categories?post=1275"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/tags?post=1275"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}