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Wall Street ends mixed amid trade worries
New York, Feb 9 (IANS) US stocks ended mixed as concerns over trade uncertainties and global economic slowdown lingered, capping market gains.
The Dow Jones Industrial Average was down 63.20 points, or 0.25 percent, to 25,106.33 on Friday. The S&P 500 was up 1.83 points, or 0.07 percent, to 2,707.88. The Nasdaq Composite Index rose 9.85 points, or 0.14 percent, to 7,298.20, Xinhua news agency reported.
The Dow booked its first three-day losing streak since December, with shares of UnitedHealth Group down 2.6 percent, leading the decliners in the 30-stock index.
Both the S&P 500 and the Nasdaq managed to turn positive at the last minute during Friday’s trading.
Seven of the 11 primary S&P 500 sectors closed higher, as groups like consumer staples and utilities outperformed while energy and financials struggled.
Amazon stock decreased 1.62 percent after reports on Friday revealed that the US e-commerce giant is reconsidering its new headquarters site in New York due to local opposition.
Other major US tech-related stocks such as Facebook, Apple and Netflix all erased early losses and closed higher, underpinning the Nasdaq.
Wall Street paid close attention to the progress of U.S.-China trade talks. Trade issues have been a big part of market anxieties since last year.
The European Commission on Thursday cut its forecast for euro zone economic growth in 2019 and 2020, reigniting fears of global economic slowdown.
Investors were also anxious about earnings outlook.
Earnings for the first quarter of 2019 are expected to contract by more than 1 percent, according to CNBC, citing data from FactSet.
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.