US Stock market update April 18, 2019

Stock market swings up and down before Good Friday

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Dow Jones Industrial Averages climbed as soon as the market open but losing its upward momentum. The stock market then fell to its opening level before bounced up again. It is traded near the earlier high level and continue sideline. Dow Jones Industrial Averages currently up 112.29 points (+0.42%) at 26,561.83, Nasdaq down 7.03 points (-0.09%) at 7,989.04 and S&P 500 up 4.03 points (+0.14%) at 2,904.48.

Mueller report released and it is under talk in the market. The report found illegal interference by Russia in the 2016 election, but could not found collusion by Trump campaign or other Americans. President Trump declares victory today, citing “No collusion” and “No obstruction”.

Earnings & Corporate results

American Express (NYSE: AXP) beaten analyst expectation on earnings but missed the revenue target. The company reported earnings per share of $2.01 vs. $1.91 expectation. Revenue comes out at $10.36 billion vs. $10.49 billion.

Philip Morris (NYSE: PM) reported earnings per share of $1.09 vs. $0.99. Revenue comes out at $6.75 billion vs. $6.74 billion.

Honeywell (NYSE: HON) also surpass analysts expectation in earnings and revenue. Earnings per share reported at $1.92 vs. $1.83. Revenue comes out at $8.8 billion vs. 8.6 billion.

Other markets

Gold down $0.70 (-0.05%) to $1,276.10, Crude oil up $0.18 (+0.28%) to $63.94. U.S dollar index up 0.45 (+0.46%) to 97.46

Asian stock market traded lower today. Nikkei down 187.85 points (-0.84%) to 22,090.12, Shanghai Composite down 12.92 points (-0.40%) to 3,250.20, Australia ASX up 3.40 points (+0.05) to 6,259.80.

European stock market closed notably higher. DAX Germany up 69.32 points (+0.57%) to 12,222.39, FTSE UK down 11.44 (-0.15%) to 7,459.88, and Euro STOXX 600 up 0.87 points (+0.22%) to 390.46.

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