Oil falls on Wall Street after shocking shopping figures – E24

Indexes on Wall Street started the new week higher, while Sonos indexes rose after beating Google in court.


Wall Street surged to unprecedented levels on Monday. When the stock exchange closed, the indicators were as follows:

  • The Dow Jones rose 0.31 percent
  • Nasdaq down 0.20 percent
  • Standard & Poor’s 500 rose 0.26 percent

The Dow Jones Industrial Average and the broad S&P 500 both started the day lower before turning to a positive end Monday night.

Monday night gives a new record value for both.

Last week, it was close to records on global stock exchanges, and the S&P 500 and Dow Jones both hit new highs ahead of the weekend.

However, there was a summer mood in the US market and trading volumes were low, CNBC writes.

In addition, many companies are approaching a solid profit season — as many as 87 percent of companies in the S&P 500 have so far exceeded market expectations, according to figures from FactSet.

If the percentage remains out of season, it will be the highest percentage with positive results and surprises since measurements began in 2008, according to the channel.

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Tesla is being investigated in the United States

Ahead of opening time, it was revealed that the NHTSA has opened an investigation into Tesla’s autopilot.

Tesla stock fell right after the news, ending the day 4.32% lower.

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The investigation concerns the autopilot system of the Tesla Model Y, X, S and 3, which were produced between 2014 and 2021 – about 765,000 cars.

The authority will consider, among other things, eleven recorded accidents, in which a Tesla car collided with one or more cars at accident sites in the USA.

According to NHTSA, all Tesla cars involved have been operated on autopilot or cruise control en route to accidents.

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Fear of weak growth gripped the oil sector

The price of oil was down 0.7 percent on the day, while sales figures from China showed unusually weak growth. On average, online shopping increased 21 percent each July. This year it is up only 4.4 percent. This is much lower than analysts expected, according to reports CNBC.

The two largest US oil companies tumbled on the stock exchange on fears of weak growth in the world’s largest market and the spread of outside analysts.

Chevron’s shares ended the day’s trading down 1.02 percent, and Exxon Mobil shares fell 1.43 percent.

Last week, new lockdowns in China produced similar results to oil prices. Then it was down about four percent in one day.

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Challenges won a patent lawsuit against Google

Headphone company Sonos won the court against Google. The US ruling found that Google infringed on Sonos’ intellectual property rights, after the company claimed that the tech giant put Sonos technology into Google’s speakers.

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On Monday, Sonos shares rose 4.69 percent.

While the verdict handed down was a victory for Sonos, the final verdict won’t come out until December. This ruling will have a major impact on the company’s future, and if there is another victory there, the rally seen on Monday may just be the beginning. Hey ho! finance.

Global stock markets decline

In the new week, the mood on global stock exchanges soured. Both the Asian and European stock markets started the day lower. The Oslo Stock Exchange is also dropping from its high before the weekend.

The decline comes after a disappointing drop in numbers from China, where retail growth fell at 8.5 percent in July – well below a Reuters estimate of 11.5 percent. China’s industrial production growth also fell below market expectations.

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Stock equipped for stock market turmoil

Dalila Awolowo

Dalila Awolowo

"Explorer. Unapologetic entrepreneur. Alcohol fanatic. Certified writer. Wannabe tv evangelist. Twitter fanatic. Student. Web scholar. Travel buff."

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