Nasdaq (INDEXNASDAQ:IXIC) is aiming for a record high again? – Idaho Reporter

IndexNasdaq IXIC

Nasdaq (INDEXNASDAQ:IXIC) is aiming for a record high again?

The increasing tensions between the US and China over Hong Kong have scarcely unsettled investors on Wall Street on Friday. US President Donald Trump announced at a press conference in Washington that he would instruct his government to initiate the lifting of Hong Kong’s special treatment. However, he did not mention any steps that might indicate an end to the troubled agreement between China and the United States to ease their trade conflict. This made it easier for investors, said analysts. Trump loves the big notes, but he remains a lap dog on Wall Street. Trump does not want to risk a trade war that could reduce his chances of re-election.

The Dow Jones Show stock market chartThe index of standard values ​​ended trading 0.1 percent lower at 25,383 points. In contrast, the broader S&P 500 gained 0.5 percent to 3044 points. The index of the technology exchange Nasdaq (INDEXNASDAQ:IXIC) even rose 1.4 percent to 9555 points, which is only 1.5 percent from its record high. The technology rally has picked up speed again in recent weeks.

US consumer spending in April, which fell by 13.6 percent, was also less constructive. There has not been a major minus since the start of statistics in 1959. The slump in consumption suggests that the world’s largest economy could shrink as much in the current second quarter as it has since the Great Depression in the 1930s.

Fed chief Jerome Powell confirmed in a webcast that the central bank will continue to use its instruments in the fight against the economic crisis. The dollar index made up for its losses at 98.3 points. The Federal Reserve had lowered its key bank money supply to zero to 0.25 percent and launched extensive trillion-dollar economic support programs.

Trump’s struggle with Twitter hit stocks of the short message service. They fell by almost two percent. Trump signed a regulation that could override certain safeguards for online platforms. Networks such as Twitter, Facebook or Google would ultimately have to take responsibility for the content of their users.

NASDAQ Composite opened slightly higher on Monday and gained 15 points early in the morning.

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