AM Report 4 May 18 : Strong recovery into the close as industrial stocks led the charge.

US sharemarkets were mixed on Thursday. The Dow Jones index was down nearly 400 points at one stage, dipping below its 200-day moving average, but rallied back from 4-week lows. Worries about a stalemate in US-China trade talks weighed on sentiment initially. However, buyers came back into the market later in the session. Shares of industrial companies' Boeing (+2%) and 3M (+0.6%) both rose. Tesla (-5.6%) shares came under pressure on concerns over the production and profitability of the troubled Model 3 car. The Dow Jones ended higher by just 5 points or flat. The S&P 500 index fell by 0.2% and the Nasdaq index lost almost 13 points or 0.2%.

 

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