- Title: Boeing, J&J pull down Wall Street along with weak China data
- Date: 18th October 2019
- Summary: NEW YORK, NEW YORK, UNITED STATES (OCTOBER 18, 2019) (REUTERS) (SOUNDBITE) (English) GLOBAL X ETFS SVP, HEAD OF RESEARCH & STRATEGY JAY JACOBS, SAYING: "Yeah, I mean, China's been slowing for years. This is a little bit slower than people expected, but this is not a hard landing for China. This isn't the bottom dropping out of the economy. It's just it's slowing down maybe a little bit faster than people expected. So, it's a trend of what's happening globally. Economies are slowing down. And you couple that with the trade wars, and you couple that with just the structural slowdown in China. I think people should be less focused on headline GDP numbers and maybe focus on more of the specific growth areas in China right now, such as looking at the retail space, looking at mobile transaction numbers, looking at internet usage - the things that are more kind of the new China - and seeing how fast new China's growing, rather than the entire economy."
- Embargoed: 1st November 2019 20:15
- Keywords: economy corporate earnings NYSE trade China Boeing New York Stock Exchange jobs equities Johnson & Johnson closing bell
- Location: NEW YORK, NEW YORK, UNITED STATES
- City: NEW YORK, NEW YORK, UNITED STATES
- Country: USA
- Topics: Economic Events,Equities Markets
- Reuters ID: LVA004B1MLKEL
- Aspect Ratio: 16:9
- Story Text: Wall Street fell on Friday (October 18) as negative headlines about Johnson & Johnson and Boeing, along with bleak economic data from China, soured investor risk appetite and offset generally positive corporate earnings.
The Dow Jones Industrial Average fell 255.07 points, or 0.94%, to 26,770.81, the S&P 500 lost 11.83 points, or 0.39%, to 2,986.12 and the Nasdaq Composite dropped 67.31 points, or 0.83%, to 8,089.54.
(Production: Aleksandra Michalska)
- Copyright Holder: REUTERS
- Usage Terms/Restrictions: None