Market Roundup: Despite Yield Curve Shock, Markets Close Down Less Than 1% for Week

Published: Aug. 20, 2019, 8:29 p.m.

Indices ended the trading day in red territory on Monday, as stocks dipped amid continuing U.S.-China trade war concerns and Hong Kong unrest. Tech stocks ticked up and helped the market close to the positive side Tuesday on news the White House will delay imposing certain tariffs on China until December. Mid-week The Dow Jones Industrial Average, S&P 500 Index, and NASDAQ Composite closed down 3%. The selloff came on less-than-stellar economic data from China, GDP contraction in Germany, and the first inverted U.S. yield curve in more than 12 years. Indices ended trading with mixed moves on Thursday with both the Dow and S&P 500 adding slight gains while the NASDAQ shed some points. In economic news, initial jobless claims increased last week, as the Labor Department showed first-time claims rose by 9,000 to 220,000 for the week ended August 10. The indices managed to close in the green zone on Friday. In other news, new-home construction decreased in July. Residential starts dipped 4% to a 1.19 million annualized rate versus a downwardly revised 1.24 million in June. The markets, though, largely looked past the housing numbers, and continued to bob along with developments on the U.S.-China trade situation. Trump recently suggested that the standoff would end, and the two nations are scheduled to resume talks in September.