Weak economic data drag down Wall Street

Credit: Reuters Studio
Published on February 21, 2019 - Duration: 01:14s

Weak economic data drag down Wall Street

Weak economic reports pressured U.S. stocks on Thursday after the market's recent run of gains, and a drop in healthcare shares added to the bearish momentum.

Fred Katayama reports.

Advertisement

Weak economic data drag down Wall Street

Weak economic data drove the major U.S. markets lower on Thursday.

The S&P 500 snapped its three-session winning streak.

Capital goods orders unexpectedly fell in December, and business activity in the Mid-Atlantic fell in February.

Benchmark Investment CEO, Kevin Kelly: SOUNDBITE: BENCHMARK INVESTMENTS CEO, KEVIN KELLY, (ENGLISH) SAYING: "I think we're getting mixed economic data, especially on the leading economic indicators like the durable goods report.

And so, what we're seeing is the change of growth is going down on a lot of these leading economic indicators.

And I think it is because of the trade concerns, the tariff concerns, also, the stronger dollar." Nike shares dropped.

The sportswear maker's sneaker worn by basketball star Zion Williamson split during a game between Duke University and North Carolina.

Tesla shares skidded.

Consumer Reports pulled its recommendation rating on the electric car maker's sedan, the Model 3, citing in its words, "reliability issues:.

Johnson & Johnson shares weighed on the healthcare company said it received subpoenas from U.S. regulators related to litigation involving alleged asbestos contamination in its Baby Powder product line.

European markets closed mixed.

Downbeat reports from Centrica and BAE Systems brought down British shares.

You are here

Recent related news from verified sources

BEIJING (AP) — Asian stock markets were mixed Monday following the Easter holiday weekend as investors looked ahead to U.S. and Japanese economic data....
15 hours ago • Seattle Times

Wall Street was set to open higher on Wednesday, as upbeat economic data from China and a jump in Qualcomm shares sparked gains in chipmakers, with sentiment...
5 days ago • Reuters

A gauge of global stocks fell on Thursday after underwhelming manufacturing surveys from Asia and Europe, though they pared losses as Wall Street edged higher on...
4 days ago • Reuters

A gauge of global stocks fell on Thursday after underwhelming manufacturing surveys from Asia and Europe, though they pared losses as Wall Street edged higher on...
4 days ago • Reuters India

A gauge of global stocks fell on Thursday after underwhelming manufacturing surveys from Asia and Europe, though it pared losses as Wall Street edged higher on...
4 days ago • Reuters India

Recent related videos from verified sources

Wall Street ends slightly higher 01:06
Credit: Reuters - Business (Amazon FireT - Published 4 days ago 

Markets On Wall Street Fall Flat On The Day 00:38
Credit: Wochit - Published 5 days ago 

Economic Data From China Boosts MSCI's Global Stock Gauge 00:41
Credit: Wochit - Published 5 days ago 

Wall Street slips with healthcare shares 01:03
Credit: Reuters Studio - Published 5 days ago 

Jim Cramer's Reaction to Citigroup and Goldman Sachs Earnings 00:54
Credit: The Street - Published 1 week ago 

Wall Street Awaits Bank Earnings 00:44
Credit: Wochit - Published 2 weeks ago 

Bond Investors: Here's What Could Trigger Monetary Stimulus 02:59
Credit: The Street - Published 2 weeks ago 

What to Watch as Big Bank CEOs Are Grilled on Capitol Hill 01:02
Credit: The Street - Published 2 weeks ago 

You might like