Yahoo finance API is not available right now, please try again soon...

Futures Lower, Global Stock Rally Loses Steam

oil, pipeline, oil barrels, gas, petroleum


The Dow and the S&P 500 edged lower on Monday after recent gains as energy shares fell with oil prices and Apple retreated a day before its quarterly results.

Based on the latest available data, the Dow Jones industrial average fell 23.65 points, or 0.13 percent, to 17,623.05, the S&P 500 lost 3.97 points, or 0.19 percent, to 2,071.18 and the Nasdaq Composite added 2.84 points, or 0.06 percent, to 5,034.70.

(Reporting by Caroline Valetkevitch; Editing by Nick Zieminski)

Below is an earlier reported version from Reuters.

Global equity markets edged lower on Monday, pausing after a four-week rally ahead of policy announcements from central banks in the U.S. and Japan later in the week, while the dollar lost ground in the wake of soft U.S. housing data.

Stock markets rallied last week on bets that Japan’s already-massive stimulus would be further increased after China cut interest rates last week and the European Central Bank indicated it may add to its asset purchase program in December.

But comments Monday by a key economic adviser to Prime Minister Shinzo Abe, who said the Bank of Japan did not need to boost its monetary stimulus this week, tamped down those expectations somewhat.

The U.S. Federal Reserve, meanwhile, which will issue a policy statement at the conclusion of a two-day meeting on Wednesday, is increasingly expected to hold off its first rate hike in nearly a decade until next year.

U.S. stocks dipped, with the PHLX housing index down 0.8 percent after the Commerce Department said new U.S. single-family home sales fell to near a one-year low in September after two straight months of gains.

“It is just a little bit of consolidation and people re-evaluating,” said Rick Meckler, president of investment firm LibertyView Capital Management in Jersey City, New Jersey.

“There is no question that the economic news is mixed, so I don't know if that is telling anyone anything they don't already know.”


After a gain of more than 7 percent over the past four weeks, MSCI’s all-country world index of the equity performance of 46 countries shed 0.1 percent, while the pan-regional FTSEurofirst 300 index, tracking Europe’s 300 largest companies, closed down 0.4 percent.

Shares in European markets were mostly lower, but Germany’s DAX managed a modest 0.06 percent gain after a business sentiment survey showed that morale had fallen by less than expected in October.

The Dow Jones industrial average fell 9.72 points, or 0.06 percent, to 17,636.98, the S&P 500 lost 1.96 points, or 0.09 percent, to 2,073.19 and the Nasdaq Composite added 9.02 points, or 0.18 percent, to 5,040.88.

About 170 companies in the benchmark S&P 500 index are expected to report earnings this week, including Apple Inc (AAPL) on Tuesday.

Thomson Reuters data shows third-quarter earnings are expected to decrease 2.8 percent from a year ago, a slight improvement from the 4.2 percent decline expected at the beginning of the month.

The dollar fell from a 2-1/2 month high and was off 0.3 percent to 96.813 against a basket of major currencies on lower U.S. bond yields and following the U.S. new-home sales data.

Crude oil prices fell, with U.S. crude off 1.6 percent to $ 43.90 and Brent down 0.8 percent to $ 47.60 as a global supply glut pushed fuel storage sites close to capacity, and as fewer speculators were willing to bet on a rise in prices.

Prices on 10-year Treasuries were up 7/32 in price to yield 2.06 percent as they retreated from two-week highs.

Article Source:
Stock Market


The Dax futures fell 2 percent in a matter of seconds just as the ECB announced its rate decision this Thursday. They immediately recovered but the so-called ‘fat finger’ incident sent panic shock-waves throughout global trading floors as all trading was temporarily stopped.

Saxo Bank’s Head of Equity Strategy, Peter Garnry, explains just what happened, why it happened and what traders need to know if they were caught on the wrong side of the sell order. He says the the Dax cash index traded at normal levels with only a small dip. He understands that trades will be restated later.

Stock Market

Stock Market: Online Trading In Stock Market Today: How To Start Trading Online For Beginners
If you’re just not getting the stock market and feel like you’re late in the game look no further and read this short read to get…

The Stock Market Cash Flow: Four Pillars of Investing for Thriving in Today's Markets (Rich Dad Advisors)
The book begins by addressing many of the challenges stock market investors face today and the various ways many investors use the…

Stock Market Edges: A quantitative guide to developing winning trading strategies
Improve the precision, accuracy and profitability of your stock market trading strategies by leveraging some of the many market ed…

Stock Market

Tags: , , , , , ,
Previous Post

13 charts that show why the Fed might still raise rates in 2015

Next Post

Why Is the Large-Cap Tech Sector Recording Gains?

%d bloggers like this: