U.S Wall Street Flat As Comey’s Testimony Underway

The U.S. was slightly altered late morning trading on June 8, 2017, as the testimony got underway by the former FBI Director James Comey. James Comey is recently under wraps with the politicians of Washington due to the claims he had with the current president Donald Trump.

Things changed when U.S. stocks changed during the late morning trade this Thursday since former FBI Director James Comey’s testimony began.

Now Comey is under extreme pressure by Washington politicians over his claim that President Donald Trump asked him to forget about an investigation of Michael Flynn who was the national security adviser. Flynn was part of a 2016 presidential election probe for allegedly meddling with Russia. Comey doesn’t believe that Russia interfered with this year’s election. He believes that there were no alterations to votes in any way.

Comey’s Testimony Against U.S. President Donald Trump Got Dramatic

Thursday morning, the European Central Bank had signaled that they had no further rate cuts. Although they subdued inflation, which means that it would continue to increase more stimulus into the region’s economy.

Investors are now watching to make sure the outcome of the UK general election will come out ok. The Dow Jones Industrial Average went up 0.03 percent this morning. Also, the S&P 500 dropped 0.06 percent. Next went the Nasdaq Composite, which fell 0.01 percent. In fact, eight out of the eleven major S&P sectors fell, with the defensive utility index went to 1.08 percent which lost, topping the decliners.

Even the shares of the Alibaba Group Holding went up to 9.5 percent which totaled up to $137.55. The company still expects its revenue growth to reach 45-49 percent in the 2018 fiscal year.

The company Yahoo owns 15.5 percent stake in Alibaba rose to 7.2 percent which totaled to $54.18. Declining issues are being outnumbered due to advancers on the NYSE which are by 1,410 to 1,252. For the Nasdaq, numerous problems arose 1408 issues in fact, but 1162 fell. Out of multiple retailers, the company Macy’s went up to 2.1 percent and the company J.C. Penny’s went up to 1.2 percent.