All sectors closed positive in Wall Street as Turkey tensions ease

The tensions in Turkey are easing, so the United States stocks market closed up with all sector performing gains on the day. The Turkish Lira rebounded and stocks in Turkey rallied 11%, so the market sentiment improved by a lot.

Big caps in technologic and financial companies fueled the sentiment as companies like Apple, Amazon, and NVIDIA provided the market with great headlines. Banks and financials also posted significant gains.

On consumer cyclicals, Home Depot reported a second-quarter EPS of $3.05, beating expectations by $0.21. The world’s largest home improvement retailer announced sales of $30.5 billion for the second quarter of fiscal 2018, reporting $450 millions more revenues than market expectations and an 8.4% increase from the second quarter of fiscal 2017.

Home Depot HD daily chart August 14

Home Depot HD daily chart August 14

Craig Menear, chairman, CEO, and president of The Home Depot said that the company is “very pleased with our record second quarter sales and earnings. Not only did our seasonal business rebound from the first quarter, but our overall results exceeded our expectations.”

The Dow Jones added 112.22 points or 0.45% to finish the day positive at 25,299.92. The DJIA stopped a 4-day losing streak; however, it is losing 1.28% in the last five trading days.

The S&P 500 rose 0.64% or 18.03 points on the day to finish at 2,839.96. The S&P is 0.65% negative in the last five trading days. The NASDAQ Composite gained 0.65% or 52.19 points to end the day at 7,870.89. However, it is 0.16% down in the last five days at 7,871.

All sector finished positive in the day. The real estate sector faired as the best out of all industries with 0.64% gains on the day. It is Followed by consumer staples with 0.51% gains on Tuesday and the telecommunication services with 0.50% increase in the day.

On the last five days, however, all sectors have reported declines with the energy sector being the worse performer with 1.5% loses. Materials is 1.29% down in the last five trading sessions, while industrials is 0.76% negative.

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