Thursday's Biggest Winners and Losers in the S&P 500

07 April, 2018, 00:11 | Author: Essie Rivera
  • Dow rebounds 389 points from Monday losses

Thursday was another positive day for the broad US markets.

The S&P 500 Index plunged more than 2 percent and all 30 members of the Dow Jones Industrial Average retreated as President Donald Trump ordered ordered a review of additional tariffs that prompted an aggressive response from China. Treasury Secretary Steven Mnuchin added to the anxiety by saying there's a "level of risk" the spat could worsen.

About 6.4 billion shares changed hands on US exchanges.

Another flare-up in trade tensions between the US and China sent the stock market sharply lower for the second time this week. "The market has vacillated between writing it off as just talk and assuming there could be a serious problem", said Rick Meckler, president of investment firm LibertyView Capital Management in Jersey City, New Jersey.

Also, the March non-farm payrolls report showed the USA adding 103K jobs, missing headline expectations by a wide margin. The renewed saber rattling provided a bookend to a week that started with equities tumbling amid amplified rhetoric.

The Dow Jones Industrial Average .DJI fell 565.49 points, or 2.31 percent, to 23,939.73, the S&P 500 .SPX lost 53.08 points, or 1.99 percent, to 2,609.76 and the Nasdaq Composite .IXIC dropped 134.34 points, or 1.9 percent, to 6,942.21.

RBI's monetary review today, unlikely to cut interest rates
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Spotify set for $20bn United States stock market listing
Under a plan being tested out by the NYSE , Spotify's current stockholders are selling all of the shares in the offering. Spotify is the biggest company to ever go public via direct listing, and the first on the NYSE.

Nelson Mandela's ex-wife passes away at 81
Winnie Mandela, pictured in 2010 at the funeral of anti-apartheid stalwart and women's rights activist Fatima Meer. Winnie Madikizela-Mandela was the former wife of South Africa's first black president , Nelson Mandela .

Earnings forecasts have increased sharply since Congress approved sweeping changes to the USA tax law late last year, with first-quarter earnings growth expected to be the highest in seven years. -China trade tensions stoked investors worries. All of the index's 10 main industry groups ended lower.

"The punches keep getting thrown, but the market has managed to hang in there", said Chris Verrone, a strategist at Strategas Research Partners.

The ETF's YTD performance is 0%, the 1 year is 0% and the 3 year is 0%.

Gold was down 0.8% at $1,329.00.

Eight of the 11 major S&P sectors were lower, led by a 0.6 percent drop in financial stocks as the case for further rate hikes dimmed after soft jobs data.

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