The S & P 500 its marked its longest bull run with a dip on Wednesday, as the political situation in the White House and President Donald Trump were volatile, especially due to the legal problems of some former advisors.<\/p>\n
The decline also comes ahead of the Fed\u2019s minutes and trade talks with China. It came just one day after the index hit a record day high.<\/p>\n
The nine main sectors that fell in the Standard & Poor’s Index significantly affected the sensitive industrial sector towards market trading. The Standard Industrial Index fell 0.71% ahead of the US-China trade talks, which are very important for the markets. Meanwhile, energy stocks benefited from higher oil prices, and retailers gained saw gains from Target and Lowe’s shares.<\/p>\n
On the legal situation in the White House, former Trump campaign manager Paul Manafort was convicted of tax evasion and bank fraud Tuesday evening, while former personal layer of\u00a0 the president, Michael Cohen, pleaded guilty to a range of charges and said that his actions were in Trump\u2019s interest.<\/p>\n
Investors were concerned about whether these setbacks would harm the results of the upcoming Republican election and could widen the criminal probe that overshadowed the Trump presidency. However, senior analysts say the news could only lead to some slight movements.<\/p>\n
There is no doubt that the biggest drive in the market now is the political situation, but investors are always curious about what the results and records of the Federal Reserve will show.<\/p>\n
The Fed’s monetary policy meeting for August is expected to show the central bank’s confidence in the economy and the Council’s commitment to raise interest rates in the future, which President Trump warned of.<\/p>\n
The Dow Jones industrial average rose 21.99 points or 0.09% to close at 25,800 points. The Standard & Poor’s 500 index was down 4.30 points or 0.15% to trade at 2,885 points.\u00a0 The Nasdaq Composite Index shed 6.61 points, or 0.08 percent, to 7,852.<\/p>\n
Meanwhile, the energy sector rose by 1.0% with oil prices gaining more than 2%, and the basic consumer discretionary index rose by 0.33% after the strong results from retailers. Target Group (TGT.N) rose 5.5% after exceeding quarterly estimates.<\/p>\n
Lowe’s home improvement chain grew by 7.9% as investors took the moves of the new CEO positively. The Executive Director took action to reduce slow-moving production lines. Urban Outfitters (URBN.O) jumped 7.3%, and La-Z-Boy, the furniture maker, rose 12.4% after beating Wall Street estimates.<\/p>\n
The number of losing stocks outnumbered gaining ones by 1.06 to 1 in the New York Stock Exchange.<\/p>\n","protected":false},"excerpt":{"rendered":"
The S & P 500 its marked its longest bull run with a dip on Wednesday, as the political situation in the White House and President Donald Trump were volatile, especially due to the legal […]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":766,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3,4],"tags":[36,48,24,38,33,37,22,10,70,23,46,39],"_links":{"self":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/765"}],"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=765"}],"version-history":[{"count":1,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/765\/revisions"}],"predecessor-version":[{"id":767,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/765\/revisions\/767"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media\/766"}],"wp:attachment":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media?parent=765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/categories?post=765"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/tags?post=765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}