Subscribe to RSS

Market Overview:  Markets slump on global growth concerns

US stocks tumbled on Monday as investor confidence was undermined by evidence of slowing economic growth in China and uncertainty when the Federal Reserve will hike interest rates. The dollar weakened, the ICE US Dollar index, a measure of the dollar’s strength against a basket of six currencies, fell 0.2%. Investor concern was spurred by data showing profits of China’s industrial companies fell 8.8% in August from a year earlier, the biggest decline since 2011. S&P 500 fell 2.6%,retreating for a fifth consecutive session and hitting the lowest level since August 25 when global equities rout started after China devalued its currency. All ten sectors finished in negative territory led by health-care sector. Nasdaq Biotechnology Index slumped 6% as biotechnology stocks extended last week’s losses after Democratic presidential candidate Hillary Clinton unveiled a plan to limit monthly out-of-pocket costs for prescription drugs to $250. On Monday she suggested that large drug makers should help increase competition among generic drugs by investing in their production when there is only one manufacturer. Economic reports showed pending home sales fell 1.4% in August to lowest level in five months. Federal Reserve’s closely watched measure of inflation, the so-called Personal Consumption Expenditure price index was unchanged in August rising 0.3% year over year, well below the central bank’s target 2% level. Chicago Fed President Charles Evans said the Fed should be in no hurry to raise interest rates, advocating waiting for the start of rate liftoff until mid-2016. Trading volume was about 8.4 billion shares on US exchanges, 15% above the three-month average. Stock index futures are rising currently.Today at 15:00 CET July Case-Shiller Composite Index will be released. The tentative outlook is positive. At 15:00 CET September Consumer Confidence will be published by Conference Board. The tentative outlook is negative.

European stocks slumped on Monday as market sentiment was hurt by concern over slowing global growth and car stocks continued falling in the wake of Volkswagen emission scandal. Euro strengthened against the dollar. Stoxx Europe 600 index dropped 2.2%, Volkswagen slumped 7.5% after German prosecutors opened a fraud investigation into former CEO Martin Winterkorn, Daimler lost 3.2% and BMW fell 2.9% weighing on German DAX 30 which closed down 2.1%. Commodities trader and mining giant Glencore plunged 29% on concern interest payments from heavy debt load will wipe out company’s equity value if commodity rout continues. Today at 10:00 CET September Business Confidence, Economic and Industrial Sentiment will be released in euro-zone. The tentative outlook is negative. At 13:00 CET preliminary consumer price index for September will be released in Germany. The tentative outlook is negative. And at 20:40 CET Bank of England Governor Carney will speak in London.

Nikkei slumped today 4.1% and turned negative for the year on back of global slowdown concern as the yen strengthened on higher haven demand. Shipping stocks were hit hardest after news a mid-size shipping company was expected to file for bankruptcy. Tomorrow at 0:50 CET preliminary August retail sales will be released in Japan. The tentative outlook is negative.

Oil futures prices are rising today on expectations of a weekly drawdown of over 1 million barrels at Cushing, Oklahoma, indicating a tightening US market. Official data will be released tomorrow.

Gold is falling today after closing 1.2% lower on Monday, the biggest daily drop in three weeks.

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

Up to 50% Welcome Bonus on Each Deposit – Fort Financial

Up to 50% Welcome Bonus on Each Deposit – Fort Financial(0)

Up to 50% Welcome Bonus of Every Deposit to All New and Existing Traders. You Deposited $1000 on your account, chose a 50% bonus and got 500 extra dollars to the initial deposit amount. Link: $888 Extra Bonus Amount Promotions Link:  $5 Forex No Deposit Welcome Bonus Link:  Up to 50% Bonus of Every Deposit

300 USD No Deposit Forex Welcome Bonus – CARRAX

300 USD No Deposit Forex Welcome Bonus – CARRAX(0)

300 USD No Deposit Forex Welcome Bonus for 30 calendar days for real trade in the forex market. Only Carrax verified users may participate in the 300 USD No Deposit Forex Welcome Bonus Promotion. Link:  300 USD Forex No Deposit Bonus Withdrawal: Only profits can be withdrawn after 30 days of having the account active.

FX Zone Currency Capital Forex Trading Contest – FXTM

FX Zone Currency Capital Forex Trading Contest – FXTM(0)

FX Zone Currency Capital Trading Contest final Bid Central. Sharpen your forex trading skills completely RISK-FREE as you enter ForexTime Broker simulated forex world of 2017 the FX Zone Currency Capital Contest. Link:  FX Zone Currency Capital Contest Link:  $25 Per Referral Earn up to $10000 Link:  Receive $30 Tradeable Credit Bonus Link:  Loyalty Cashback

$123 Free No Deposit Welcome Bonus – FBS Broker

$123 Free No Deposit Welcome Bonus – FBS Broker(0)

$123 Free No Deposit Forex Bonus of FBS Broker all new members to get a Free bonus of $123 without initial deposits and start a risk-free forex liveForex Trading. Link:  $123 Free Forex Bonus Promotion Link:  100% Deposit Bonus Promotion Link:  $88.8 Lucky No Deposit Bonus (for Malaysian traders) Available to: All new traders Ending

$50 Free No Deposit Bitcoin Bonus Special Promo – UFX

$50 Free No Deposit Bitcoin Bonus Special Promo – UFX(0)

$50 Forex No Deposit Bitcoin Bonus Special Promotion to all new trading account holder. Start Forex Trading Bitcoin with UFX and  Get a $50 No Deposit Bonus Link:  $50 Forex No Deposit Special Bonus Link:  $50 Free No Deposit Bitcoin Bonus Link:  100% Real Money CashBack Promo Link:  $5000 BitCoin Rewards Bonus Promo Available to:

Forex Special Promo FREE Forex Trading Signals – CMSTrader

Forex Special Promo FREE Forex Trading Signals – CMSTrader(0)

Forex Special Promotion for our new clients. Open account and get our FREE Forex Trading Signals with high success claim them Now 91% Success! Link:  Top Social Copy Trading Platforms Link:  FREE trading signals Special Promotion Ending Date:  31 December 2018 Available to:   New Clients only Bonus Offer: Get FREE forex trading signals Special promotion

50% Welcome Bonus Limited Time Offer – Trade Time

50% Welcome Bonus Limited Time Offer – Trade Time(0)

50% Welcome Forex Bonus Limited Time Offer to TradeTime All New Clients. Join TradeTime and receive your 50% Welcome Forex Bonus Now! Link:  50% Welcome Bonus Limited Time Offer Available to: All New Clients Bonus Ending Date: 31 December 2018 Bonus offer: 50% Welcome Bonus Limited Time Offer to TradeTime All New Clients. Watch how

100% CashBack Real Money Bonus Promotion – UFX

100% CashBack Real Money Bonus Promotion – UFX(0)

100% Real Money CashBack Promotion to all new and existing clients. Join and gain exclusive access to the ONLY online trading 100% Cashback rewards bonus program Link:  100% Real Money CashBack Promotion Link:  $50 Forex No Deposit Bonus Promotion Available to: All new trading account Ending Date: 31 December 2018 Bonus offer: 100% Real Money

30 USD Forex Free Welcome Bonus Promotion – Tickmill

30 USD Forex Free Welcome Bonus Promotion – Tickmill(0)

30 USD Forex Free Welcome Bonus Promotion to All new traders. $30 Free Forex Welcome Account is available to all new clients who expressed a wish for it during the registration process. Link:  Weekly Demo Race Trading Contest Link:  $30 Free Welcome Bonus Campaign Link:  Forex Monthly Live Trading Contest Available to: All new traders

Forex Tradable Deposit Free Bonus 101% – FreshForex

Forex Tradable Deposit Free Bonus 101% – FreshForex(0)

Forex Tradable Deposit Free Bonus 101% gives a real chance to start Forex trading with low investment and double return! Forex Tradable Deposit Free Bonus from FreshForex helps you to boost your trading volume and thus, the profit you earn. Link:  Tradable Deposit Bonus 101% Link:  $200 No Deposit Welcome Bonus Available to: All New

read more

Forex Featured Broker

Contacts and information

ForexDepositNews.com Forex Deposit Bonus, Forex No Deposit Bonus, Forex Live Contest, Forex Demo Contest, Free Forex Bonus Forex Brokers Review and Other All Forex promotions.

ForexDepositNews.com

Social networks

Most popular categories