A new verbal attack by US President Trump against China’s ruler Xi unsettled Nasdaq Composite (INDEXNASDAQ: IXIC) investors on Thursday.
Is the Chinese-American trade dispute flaring up again? The U.S. President Donald Trump accused China’s Prime Minister Xi of being personally behind disinformation attacks in the United States and Europe. Market analyst Craig Erlam from currency dealer Oanda Europe spoke of a “dramatic escalation” of tensions. “That makes investors nervous,” he said.
The new economic data had little effect. The number of weekly first-time jobless claims in the United States rose to 2.44 million, but not quite as strong as last. The week before, there were 2,769 million initial applications. A total of around 38 million Americans have now applied for unemployment benefits. The Philly Fed index also brightened somewhat – to minus 43.1 points. However, economists had expected an even stronger increase to minus 40 points. However, the collective index of leading indicators did not cloud as much as expected in April. The index fell 4.4 percent compared to the previous month, the private research institute Conference Board said. Analysts had forecast a 5.4 percent decline.
The early economic indicators increasingly point to an economic recovery. The fact that the economies around the world slipped into the recession in the first and second quarters, or will slip, has long been priced in stocks. Hopes are now based on a recovery in the economy in the third quarter, as recently fueled by Fed chief Jerome Powell.
The online travel booking company Expedia (NASDAQ:EXPE) expects a smaller loss than expected in the second quarter due to a recovery in demand in May. “What we saw are small signs of recovery in places where easing has become possible, which can help people start thinking about their summer vacation,” the company said. In the first quarter, gross bookings fell 39.2 percent to $ 17.89 billion. The net loss was $ 1.3 billion, compared to $ 103 million a year earlier.
On Monday I said that this will be a flat week for NASDAQ:AAPL stock and seems like I was right. AAPL is hovering around $315.00 this entire week, seems like everyone is waiting for something.
The Google (NASDAQ:GOOGL)and Apple smartphone interfaces for Coronavirus warning apps are now available. So far, access has been granted to 22 countries. More are likely to be added in the coming weeks. Only one app per country should be able to access the interfaces to prevent a patchwork of different applications.
The Corona apps are designed to help keep track of infections when the restrictions on going out are relaxed. They are supposed to record which smartphones have come close to each other – and warn users if it turns out that they are next to infected people.
But what does this mean for you, the investor? Nothing special, sadly.