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Stock market report August 14 2019

US stock market report August 14 2019

Heavy losses and a strong sell-off for the US stock market as fears about a recession due the the bonds yield inversion sent stocks to much lower levels.

Main yield curve inverts as 2-year yield tops 10-year rate, triggering recession warning.

Earlier Wednesday, the yield on the benchmark 10-year Treasury note was at 1.623%, below the 2-year yield at 1.634%.
The last inversion of this part of the yield curve was in December 2005, two years before a recession brought on by the financial crisis hit.
A recession occurs, on average, 22 months following such an inversion, according to Credit Suisse.

Source: CNBC

This is the summary of the US stock market at close on Wednesday August 14 2019:

  • S&P 500: 2,840.60,-85.72(-2.93%)
  • Dow 30: 25,479.42,-800.49(-3.05%)
  • Nasdaq: 7,773.94,-242.42(-3.02%)
  • Russell 2000: 1,467.52,-43.05(-2.85%)
  • 10-Yr Bond: 1.581,-0.099(-5.8928%)
  • Vix: 22.10,+4.58(+26.14%)

Stocks gainers

China Petroleum & Chemical Corporation (SNPMF) was the stock with largest gains closing at $0.5800+$0.0280 (+5.07%).

Stocks losers

Kerry Properties Limited (KRYPF) was the stock with largest losses closing at $3.4300-$0.6900 (-16.75%).

Stock investing – Most active stocks

Macy’s, Inc. (M) was among the most active stocks closing at $16.80-$2.56 (-13.22%).

M daily stock chart

U.S. Sectors & Industries Performance

All sectors closed lower as selling pressure for stocks was persistend during the whole trading session. Energy was the worst performing sector -4.12%, Utilities was the best performing sector -0.94%, Source: Fidelity

US stock market earnings today

Some of the companies releasing earnings today are Walmart (WMT), Nvidia (NVDA), Alibaba (BABA), JCPenney (JCP), Tapestry (TPR) and Applied Materials (AMAT).

Stock market news

Stock market data

All data about stocks stock investing is taken from Yahoo finance and stockcharts.com.

Stocks to buy or stocks to sell – stock market newsletter

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This report is written by Stavros Georgiadis, CFA Equity Research Analyst, Investment Strategist