US Stocks finish in mixed territory as trade deficit declines

The US stocks market finished choppy session mixed on Tuesday, 08 June 2021, with Dow ending lower, while S&P500 and Nasdaq indexes settled tad higher, as investors digested data showing a lower US trade deficit, with gains in retailers, energy, realty, and industrials stocks were offset by losses in consumer goods, healthcare and financial stocks.

At the close of trade, the Dow Jones Industrial Average index fell 30.42 points, or 0.09%, to 34,600. The S&P 500 index added 0.74 point, or 0.02%, at 4,227. The tech-heavy Nasdaq Composite Index added 43.19 points, or 0.31%, to 13,925.

Total 6 out of 11 S&P 500 sectors closed up, with consumer discretionary (up 0.96%) sector was top gainer, followed by energy (up 0.88%), real estate (up 0.51%), industrials (up 0.26%), and materials (up 0.16%) sectors, while utilities (down 0.91%) was worst performer, followed by consumer staples (down 0.85%), healthcare (down 0.36%),and financials (down 0.2%) sectors.

 

ECONOMIC NEWS: The U.S. trade deficit narrowed in April to $68.9 billion as an improving global economy boosted sales of American exports. The April deficit was down 8.2% from a record March deficit of $75 billion. In April, exports of U.S. goods and services rose 1.1% to $205 billion while imports declined 1.4% to $273.9 billion. Through the first four months of the year, the U.S. trade deficit totals $281.7 billion, up 50.4% from the deficit during the same period in 2020, a time when the U.S. economy was essentially shut down because of the coronavirus pandemic.

Among Indian ADR, Tata Motors rose1.3% to $24.11, Wipro added 0.12% to $8.20, INFOSYS added 0.52% to $19.50, HDFC Bank added 0.04% to $76.95, Dr Reddys Labs was up 0.47% to $72.13, and WNS Holdings was up 1.18% to $76.97. Vedanta fell 1.52% to $14.94, ICICI Bank fell 0.61% to $17.81.

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