US Equity Handover: US Stocks Drop for the Second Day

Matt Weller
By :  ,  Head of Market Research

Headlines

  • US indices continued to fall after yesterday’s “key reversal”, led lower by the Dow (-0.5%)
  • Among the major sectors, REITs (XLRE) edged higher, while energy (XLE) stocks dumped about 1.6% as WTI fell 3% on the day to a one-month low.
  • Traders were ravenous for shares in Beyond Meat’s IPO, with the stock surging nearly 200% from its offering price at one point. BYND closed the day up over 160%.
  • US-China trade deal speculation was rife today, with a Chamber of Commerce official saying talks were in the “endgame,” while Chinese media suggested the negotiations were at an impasse. Traders remain skeptical until a Trump-Xi summit is formally announced.
  • Trading in Asian markets will likely be thin with Japanese traders still on break for Golden Week.

Corporate Event Calendar (Asia)


NTS = No Time Specified

Macroeconomic Calendar


*Data from Refinitiv. Index names may not reflect tradable instruments and not all markets are available in all regions.


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