U.S. Daily Market Review 5.12.19

The major U.S. stock markets have only partly moved as most traders and investors are focused on the solid employment numbers while monitoring U.S.-China trade negotiations.

The Dow Jones Industrial Average slipped 40.79 points, or 0.15%, at 27,608.99. The S&P 500 retreated 2.18 points, or 0.07%, at 3,110.58 and the Nasdaq Composite declined 4.83 points, or 0.06%, at 8,561.84.

U.S. government debt prices partly fell and yield higher on Thursday as investors monitored U.S.-China trade talks. The yield on the benchmark 10-year Treasury gained 1.8077%, while the yield on the 30-year Treasury bond was also higher at around 2.2476%.

Americans’ confidence is into recovery just in time for holiday shopping. Bloomberg’s Consumer Comfort Index jumped to 61.7 from 60.5 in the week ended Dec. 1, according to a report issued Thursday.

Luxury jeweller Tiffany & Co (TIF.N), now owned by Louis Vuitton came below forecasts for quarterly profit and sales on Thursday.

Net sales in the Americas lost 4% in the third quarter. In the Asia-Pacific region, sales did not grow despite double-digit growth in mainland China.


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