US indices are in the green Zone and Tesla continuing its steep decline

2021-11-17T18:05:53
Oil Tesla Wall Street indices
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US indices are in the green Zone and Tesla continuing its steep decline

US indices are in the green Zone and Tesla continuing its steep decline: Yesterday, the United States announced optimistic US retail sales data that led the U.S. stock market to the Green Zone. 

Evest follows market developments in the following report.

Topics:

A new rise for Wall Street indices amid optimistic retail sales data

Tesla and Walmart stocks are falling and Home Depot are rising

Oil is falling after news that the Biden administration is considering selling oil from the Strategic Petroleum Reserve

The list of the major US Treasury bonds’ investors Japan is in the first place and China is in the second

 

 

 

A new rise for Wall Street indices amid optimistic retail sales data

Major US stock market indices closed higher on Tuesday with optimistic retail sales data for October and quarterly reports beyond expectation from Walmart and Home Depot.

By the end of trading, the Dow Jones Industrial Index rose by 0.15% to 36,142.22 points.

Standard & Poor’s 500 Index rose by 0.39% to 4700.90 points.

The Nasdaq Composite Index rose by 0.76% to 15973.86 points.

The US Department of Commerce said US retail sales rose by 1.7% in October from the previous month.

Analysts surveyed by Trading Economics predicted a 1.2 % increase in imports in August. 

Experts had predicted a rise of 1.4%. According to revised data, sales rose by 0.8% in September from the previously announced 0.7%.

Retail sales growth peaked last month since March of this year, with consumers spending more before the Christmas season, Trading Economics writes.

The Federal Reserve Board said in a statement that U.S. industrial production rose by 1.6% in October from the previous month.

Analysts surveyed by Trading Economics predicted an average increase of 0.7%.

Industrial production fell by 1.3% in September, as previously announced.

In the meantime, US President Joe Biden may decide this week who will take over,
as Chairman of the Federal Reserve System (FRS) after current US Central Bank President Jerome Powell’s term expires in February 2022.

The major candidates for this position are Powell himself, as well as Federal Reserve Board of Governors member Lil Bernard. 

Current Fed policy is likely to continue regardless of who will be the chair of the Fed Board,

given that Bernard’s position on inflation and interest rates in the United States this year is the same as Powell’s, the Wall Street Journal writes.

 

Tesla and Walmart stocks are falling and Home Depot are rising

Walmart stocks fell by 2.6%.

The country’s largest retailer experienced a 40% decline in net income in the third quarter of the fiscal year 2022,
but revised figures and revenue exceeded analysts’ expectations. 

Home Depot rose by 5.7 percent.

Net income, revenue and sales for the largest US home improvement store chain increased greater than the third fiscal quarter.

Tesla’s stock price fell by 4.1%, as CEO Elon Musk continued to reduce his stake in the company,
selling stocks for an additional $930 million on Monday.

Musk sold more than 934 thousand of Tesla’s stocks on November 15,
according to documents filed with the US Securities and Exchange Commission (SEC).

Oil is falling after news that the Biden administration is considering selling oil from the Strategic Petroleum Reserve

Oil prices declined on Wednesday after news that U.S. President Joe Biden’s administration,
which is studying the sale of oil from the Strategic Petroleum Reserve (SPR), is trying to get the same from China.

The South China Morning Post reports that Biden is in virtual talks with Chinese President Xi Jinping to urge the sale of oil from the country’s reserves.

According to it, Beijing does not mind Biden’s request, but it has not made any commitments yet.

Brent crude futures for January on the London Futures Exchange fell by $0.7 (0.85%), to $81.73 per barrel.

Brent crude rose by $0.38 (0.5 percent) to $82.43 per barrel on Tuesday.

December futures for West Texas Intermediate crude were cheaper in electronic trading on the New York Mercantile Exchange (NEMX) by $ 0.6 (0.8%), to $80.11 per barrel.

During the previous session, the future fell by $0.12 (0.2%) to $80.76 per barrel.

In the week ending November 12, U.S. oil reserves increased by 655 thousand barrels,
according to the American Petroleum Institute (API). 

In the previous week, inventories had declined by 2.485 million barrels.

Inventories at the terminal in Cushing, where oil traded is being stored on the New York Stock Exchange, fell last week, as did gasoline inventories.

The U.S. Department of Energy will release official data on the country’s inventories later on Wednesday.

Analysts surveyed by Standard & Poor’s Global Platts projected an average weekly decline in US oil reserves of 2.5 million barrels in oil reserves,
and gasoline – 10 thousand barrels and distillates – by 1.3 million barrels.

The list of the major US Treasury bonds’ investors Japan is in the first place and China is in the second

Russia’s investment in U.S. Treasury bills fell by $86 million in September compared to the previous month – to $3.918 billion.

According to the U.S. Treasury Department, at the end of September,
the Russian Federation held long-term government bonds worth $204 million, compared with $203 million the previous month.

At the same time, investments in short-term securities fell to $3.714 billion from $3.801 billion.

As reported, in April 2018, against the backdrop of severe sanctions against Russia, Russia’s investments in U.S.

Treasury bonds have almost declined from $96.1 billion to $48.7 billion, in May of the same year, the figure fell more than threefold,

to $14.9 billion, after which Russia left the 33-country list of the largest holders of the United States public debt. 

In the meantime, Russian investments in U.S. government bonds exceeded $150 billion in 2013.

In September, Japan remained the largest holder of US debt obligations for the 28th month in a row,
although it cut its investment by $ 20.2 billion from the previous month – to $ 299.6 trillion. 

Meanwhile, China ranked second, the wallet of land-based reservoirs increased by $0.6 billion – up to 1 trillion US dollars 47.6 billion.

The United Kingdom ($566.5 billion) remains in third place with a large margin of leaders,
Luxembourg ($311.8 billion) moving into fourth place, replacing Ireland ($309.4 billion). 

Brazil, France, the Cayman Islands, Switzerland and Taiwan are among the top 10 holders of United States Government securities.

 

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