Markets Fall on Low Volume TradingMarkets were down across the board on low volume today. It wasn't just US indices that suffered, it was a bad day for markets worldwide. The Dow fell by just 33.84 points, ending up at 17,511.34. The NASDAQ was hardest hit, losing 32.35 points and 0.64%. It closed out the trading day at 5,059.35. The S&P 500 lost a scant 5.52 points, and closed the day at 2,096.92.
In worldwide trading, Hong Kong's Hang Seng fell the furthest. It lost 1.45%, or 339.53 points, and closed at the lowest levels we’ve seen so far this year.
Chinese Markets at Year Long LowIn trading today, the Hang Seng -- China's de facto market in Hong Kong -- reached record lows for the year. China has been beset by problems recently, and it took out its troubles on the world market. China has reacted to falling growth by devaluing their currency, causing the yuan to inflate on purpose.
That move has been good for Chinese exporters, who have seen their sales numbers drag recently. It was more difficult on businesses who export to China, since the currency devaluation means that Chinese money won't be worth as much across borders.
Still, the move is a positive one for importers like Walmart (WMT), who relies on China for many of the products on their store shelves. The devaluation should drive costs down for retailers, and consumers may see the ultimate results in lower prices at the checkout lane.
TJX Companies (TJX) Surges to Record HighsTJX Companies (TJX), the holding company that owns stores like TJMaxx and Marshall's, surged to record highs today. The company was up on strong Q2 earnings, which it released today. TJX rose by 5.17 points today, closing at $76.78 per share.
Ventas (VTR) Real Estate Down Big on High VolumeVentas (VTR), a real estate holding company, was down big today. Shareholders should still be pleased, because the falling share price came on the back of a spinoff. Ventas is spinning off a healthcare properties holding arm, which temporarily lowered share prices. In the long run, the move should be good for the company and its shareholders, since it will streamline the holdings and reduce the debt burden on Ventas. In trading today, Ventas fell by nearly 13%, losing 8.72 points to close at $59.80.
Published on Aug 18, 2015By Aaron Phillips