Dow futures drops over 200 points downtrend as coronavirus cases jump
Businessam Staff
February 13, 2020
U.S. stock index futures are pointing to a lower open on Wall Street Thursday as investors continue to worry about the spread of the coronavirus and look ahead to a slew of earnings. Around 6 a.m. ET, Dow futures indicated the average would drop more than 200 points at the open, while futures on the […]
Nigerian stock market maintains lead in Africa despite sell pressure
Businessam StaffFebruary 13, 2020
The Nigerian stock market has remained the best performing bourse in the African continent, year-to-date, despite sell pressure that has eroded significant value since the beginning of February. The market had delivered 7.5 per cent appreciation in January 2020, after declining for two consecutive years. But profit taking, coupled with negative reactions that greeted the […]
S&P 500, Dow hit all-time highs as coronavirus spread slows
Businessam StaffFebruary 12, 2020
The S&P 500 and the Dow Jones Industrials hit record highs minutes after the open on Wednesday on signs that the coronavirus outbreak is slowing in China. The Dow Jones Industrial Average rose 130.41 points, or 0.45%, at the open to 29,406.75. The S&P 500 opened higher by 12.75 points, or 0.38%, at 3,370.50. The Nasdaq Composite […]
Stocks drop despite a strong monthly employment report
Businessam StaffFebruary 7, 2020
Stocks fell Friday as a massive four-day rally took a breather even after the release of jobs data that was much stronger than expected. The Dow was down 170 points, while the S&P 500 and Nasdaq each slid 0.25%. Caterpillar and Goldman Sachs led the 30-stock index lower, falling more than 1% each. Energy, materials and […]
Stocks edge higher following China’s reduction in tariffs announcement
Businessam StaffFebruary 6, 2020
Stocks edged higher Thursday, easing from record levels, as traders assessed a tariff cut from China along with a raft of earnings and solid economic data. The Dow was up 25 points after hitting a record high at the open. The S&P 500 rose 0.15%, and the Nasdaq added 0.35%. China announced overnight it will halve […]
Wall Street falls on global economic growth concerns, Amazon limits losses
Businessam StaffJanuary 31, 2020
The S&P 500 and the Dow Jones Industrial Average slid on Friday, hit by worries over the impact of the coronavirus epidemic on global growth, while strong earnings from Amazon.com checked losses on the Nasdaq. Shares of the online retailer (AMZN.O) surged 9.2% after the company trumped Wall Street’s estimates for holiday-quarter results, putting it […]
US futures point to sharply lower open on Wall Street
Businessam StaffJanuary 30, 2020
Market focus is largely attuned to the spread of the coronavirus outbreak, with China’s National Health Commission confirming on Thursday that the death toll has hit 170, with confirmed cases of the virus surpassing 7,700. Investors will have an eye on U.S. fourth-quarter GDP (gross domestic product) figures set for release at 8:30 a.m. ET, […]
Market dives below N15tn as investors lose N267bn
Businessam StaffJanuary 30, 2020
The market capitalisation of equities on Wednesday dropped below N15tn as investors recorded losses totalling N267bn in three consecutive days. The stock market had opened the week on a bearish note, losing N39bn as the market capitalisation dropped to N15.22tn from the N15.26tn recorded on Friday. The losses intensified on Tuesday as the market capitalisation […]
Stocks rise for a second day as Apple hits record high
Businessam StaffJanuary 29, 2020
Stocks rose Wednesday as the market continued to rebound from a heavy sell-off earlier this week and as Apple led a slew of companies that reported better-than-expected earnings. The Dow was up 75 points, while the S&P 500 and Nasdaq each rose 0.15%.Apple shares gained more than 1.7% after its quarterly results easily beat analyst […]
Honeywell, Law Union, AIICO top gainers’ chart on Wednesday
Businessam StaffJanuary 23, 2020
Despite the bearish nature of trade at the Nigerian Stock Exchange on Wednesday, the shareholders of Law Union, AIICO Insurance, Honeywell Flour Mills, Cutix and Abbey Mortgage Banks have reasons to smile to the bank, as their stocks made the ranks of gainers. The all-share index dipped 0.02% to close at 29,458.21 index points, maintaining the equity […]