The Stock Exchanges in New York Started Trading With Small Gains on Friday

Tesla and Spotify Down on Wall Street

Tesla and Spotify Down on Wall Street. The stock exchanges in New York are mostly closed on Thursday with small minuses. Investors processed a significant stream of business figures and looked at the negotiations between China and the United States with an oblique eye to try to remove trade tensions. The results of automaker Tesla were not in good shape. The music streaming service Spotify also went down.


The leading Dow-Jones index closed almost flat at 23,930.15 points. The broad S & P 500 ended the session with a minus of 0.2 percent at 2629.73 points. Technologiegraadmeter Nasdaq lost 0.2 percent to 7088.15 points.

Tesla lost 5.6 percent. The maker of electric cars suffered last quarter’s most significant quarterly loss but did see turnover increase. The company also insisted on its production objectives for the Model 3. Topman Elon Musk, in a telephone explanation, fed up analysts by calling their questions “boring” and “not cool”.

Spotify managed to reduce losses in the past quarter and to increase revenues. It was the first digit report since the IPO of Spotify in early April. Investors were not impressed and put the share almost 6 percent lower.

AIG also did not convince investors and lost more than 5 percent of market value. The insurance company’s profit, in particular, was considerably lower than that experts in the average were counting on.

Food group Kraft Heinz, which also opened the books, gained 1.4 percent thanks to higher than expected profits. Breakfast cereal producer Kellogg (plus 2.7 percent) was also rewarded after results, while chemical giant DowDuPont closed flat after a solid quarter of its claim. In it, it was able to save the necessary costs.

Furthermore, the prices of producers of animal feed were under pressure due to increased competition. Since Thursday, dog food from the own brand of webshop giant Amazon is on the market. Shares of General Mills and JM Smucker lost up to 3 percent. Amazon closed a fraction higher.

The euro was worth $ 1.1989, against $ 1.1958 at the end of the European stock exchanges. The price of a barrel of American oil rose 0.8 percent to $ 68.48. Brent oil cost 0.5 percent more at $ 73.72 per barrel.

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