22.05.2020 Dow Jones Daily Analysis

22.05.2020 Dow Jones Daily Analysis

The Dow Jones was down 0.41% on Thursday losing 102 points but seems to be on a winning weekly streak as the energy sector led by oil prices keeps improving. However tensions between the U.S and China keep rising and investors are once again getting uncomfortable. This time the issue is on a former British colony, Hong Kong. China is planning to write a new law that would ban foreign interference and all seditious activities plus any external interference in Hong Kong. This prompted an immediate response from president Trump of the United States who said  “I don’t know what it  is because nobody knows yet,but if it happens, we’ll address that issue very strongly.” Stock markets reacted to these developments and the Dow went down 0.41% to close at 24,474.12 2.438 workers filed for unemployment benefits, slightly above the forecasted 2.4 million and the number might keep on rising. However the Dow's gains this week outweigh the losses so far and apart from these setbacks the index is set to finish strong.