Daily Archives: Aug 9, 2019

    Trader Peter Tuchman gestures as he talks on the phone following the resumption of trading following a several hour long stoppage on the floor of the New York Stock Exchange in New York, U.S., July 8, 2015. REUTERS/Lucas Jackson/File Photo

    NEW YORK (Reuters) – U.S. stocks fell on Friday following renewed jitters over the U.S.-China trade war, capping a week of trading that saw big swings and high volume.

    President Donald Trump said the United States and China were pursuing trade talks but he was not ready to make a deal, fanning fears over the impact of the trade war on the global economy.

    Trump also said the United States would continue to refrain from doing business with Chinese telecoms equipment giant Huawei Technologies.

    The week was marked by wild swings, but indexes finished nearly flat on the week. This week’s volume on U.S. exchanges was also the biggest weekly total of the year, exceeding 41 billion shares.

    On Friday, all three indexes were down more than 1% in early trading and rebounded later in the session, with the Dow briefly turning positive at one point. This left a 315-point swing between the blue-chip index’s high and low of the day.

    The frequent comments on trade are “leaving investors whipsawed,” said Rick Meckler, partner, Cherry Lane Investments, a family investment office in New Vernon, New Jersey.

    “As volatility has picked up, you’ve gotten more interest on the part of traders, and that in turn has led to even higher volume,” he said. “When you get moves like this and reversals, it brings a lot of high-frequency traders in and short-term traders.”

    Shares of chipmakers and other tariff-sensitive technology companies .SPLRCT fell, with the Philadelphia SE Semiconductor index .SOX down 1.8%.

    The Dow Jones Industrial Average .DJI fell 90.75 points, or 0.34%, to 26,287.44, the S&P 500 .SPX lost 19.44 points, or 0.66%, to 2,918.65 and the Nasdaq Composite .IXIC dropped 80.02 points, or 1%, to 7,959.14.

    Shares of Amgen (AMGN.O) jumped 5.9% after news that a U.S. judge said patents relating to the Amgen’s blockbuster rheumatoid arthritis drug Enbrel were valid, denying a challenge by Novartis AG (NOVN.S).

    Uber Technologies Inc (UBER.N) shed 6.8% after the ride-hailing company reported a record $5.2 billion quarterly loss and revenue that fell short of Wall Street targets.

    Nektar Therapeutics (NKTR.O) shares also plunged, a day after the drug developer flagged manufacturing issues with its experimental cancer drug bempeg.

    Declining issues outnumbered advancing ones on the NYSE by a 1.99-to-1 ratio; on Nasdaq, a 2.07-to-1 ratio favored decliners.

    The S&P 500 posted 46 new 52-week highs and nine new lows; the Nasdaq Composite recorded 56 new highs and 129 new lows.

    Reporting by Caroline Valetkevitch in New YorkAdditional reporting by Medha Singh and Arjun Panchadar in Bengaluru; Editing by Arun Koyyur, Leslie Adler and Cynthia Osterman

      Designa al nuevo administrador de La Fortaleza.

      La nueva mandataria, Wanda Vázquez Garced, designó a Luis Augusto Martínez Román como nuevo administrador de la Oficina de la Gobernadora, según una orden ejecutiva publicada en el portal del Departamento de Estado.

      Este puesto llevaba vacante una semana con la salida de Ricardo Llerandi de La Fortaleza. Llerandi, quien también fue secretario de la Gobernación, actualmente se desempeña como director ejecutivo de la Compañía de Comercio y Exportación. Martínez Román era subadministrador del despacho del gobernador.

      En el documento, Vázquez Garced derogó dos órdenes ejecutivas anteriores, firmadas por el exgobernador Ricardo Rosselló Nevares, que distribuían ciertas funciones administrativas en el Palacio de Santa Catalina.

      El otro nombramiento que se conoce es el de Grisel Santiago Calderón como secretaria interina de Justicia.

      Vázquez Garced juramentó el miércoles como nueva gobernadora de Puerto Rico. Su investidura surge luego que el Tribunal Supremo de Puerto Rico declarara como inconstitucional la juramentación del excomisionado residente Pedro Pierluisi, quien había sido designado como secretario de Estado y sucesor de Ricardo Rosselló Nevares en la gobernación. Vázquez Garced era la secretaria de Justicia y segunda en la sucesión de la gobernación.

      Rosselló Nevares renunció el 2 de agosto luego de semanas de protestas exigiendo su dimisión tras conocerse de actos de corrupción moral y administrativa.

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