US-China political tensions increased at a summit in Alaska. The Nasdaq index lifted as investors bought the dip in technology shares with Facebook (+4.1%), Amazon (+1.6%) and Netflix (+1.5%) all lifting. Shares of Wells Fargo (-2.9%), JPMorgan (-1.6%) and Goldman Sachs (-1.1%) all fell after the US Federal Reserve let a capital break for big banks expire. Visa shares lost 6.2% on reports the company is being investigated by the US Department of Justice. Nike shares slid 4% after its sales...
US-China political tensions increased at a summit in Alaska. The Nasdaq index lifted as investors bought the dip in technology shares with Facebook (+4.1%), Amazon (+1.6%) and Netflix (+1.5%) all lifting. Shares of Wells Fargo (-2.9%), JPMorgan (-1.6%) and Goldman Sachs (-1.1%) all fell after the US Federal Reserve let a capital break for big banks expire. Visa shares lost 6.2% on reports the company is being investigated by the US Department of Justice. Nike shares slid 4% after its sales missed estimates. FedEx shares rallied 6.1% as its profit soared on strong pandemic demand. The Dow Jones index closed down by 234 points or 0.7%. The S&P 500 index lost 0.1%. But the Nasdaq index climbed by 99 points or 0.8%. Over the week the Dow Jones index fell 0.5% and both the S&P 500 and Nasdaq indexes lost 0.8%.
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