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

$25 Free Welcome Trading Gift to Start Trading – TRADE

$25 Free Welcome Trading Gift to Start Trading – TRADE(0)

Sign up and receive $25 Free Trading Welcome Gift to Start Forex Trading. $25 Free Forex Welcome Trading Gift by TRADE.com to trade forex live trading without any Deposit and investment to verify live account Link:  $25 Free Welcome Gift to Start Trading Available to: All new trading account Bonus offer: Sign up and receive

Stay Informed About Crucial BREXIT News – UFX Broker

Stay Informed About Crucial BREXIT News – UFX Broker(0)

How will BREXIT affect the value of the GBP? Could the EUR be affected, as well? Other European markets may see volatile market reactions as investors wonder how the UK may profit from its own market, rather than remain part of the EU’s single market. Stay Informed About Crucial BREXIT News with UFX Link:  Stay

Up to 444% Profit Receive for a Single Trade – Grand Capital

Up to 444% Profit Receive for a Single Trade – Grand Capital(0)

Up to 444% Receive Profit with our new Express Options for Grand Capital Ltd Binary Option Broker. Make a correct prediction for 3 assets at the same time Link: Up to 444% Profit Receive for a single trade Link:  $500 Forex No Deposit Welcome Bonus Link:  40% Forex Welcome Deposit Bonus Available to: All new

$6000 First Deposit Bonus Limited Time Offer – XTrade

$6000 First Deposit Bonus Limited Time Offer – XTrade(0)

Up to $6000 First Deposit Bonus Limited Time Offer (T&C applied) on all Deposits for all Customers. Become an XTrade customer, and get 60% Forex Special bonuses (T&C applied) on all deposits made during your first 7 days!! Link:  $50 Free Cash Welcome Bonus Promotion  (T&C applied) Link:  $30 Free Account Verification Bonus (T&C applied) Link: 

50% Deposit Bonus and $50 No Deposit Bonus – FortFs

50% Deposit Bonus and $50 No Deposit Bonus – FortFs(0)

$50 Forex No Deposit Bonus Promo Action to all eligible clients. Every client who passed the verification process in their trader’s room can get the $50 No Deposit Welcome Bonus Link:  $50 Forex No Deposit Welcome Bonus Link:  Up to 50% Bonus of Every Deposit Link:  15% Support Margin Bonus Promo Available to: New and

15% Forex Welcome Deposit Bonus Up to $1000 – XM

15% Forex Welcome Deposit Bonus Up to $1000 – XM(0)

15% Forex Welcome Deposit Bonus Up to $1000 and $30 Forex No Deposit Bonus Welcome Bonus brings Real Account clients the best rewards available. Entering the markets and trading with XM enables you to earn from your trades and build your own bonus up to a maximum of $1,000. Link:  $30 Forex No Deposit Bonus

Free $200 Earn with Binary No Deposit Bonus – Ayrex

Free $200 Earn with Binary No Deposit Bonus – Ayrex(0)

Earn $200 Free with Binary Options No Deposit Bonus to all new activated trading account. Ayrex presents its very first Binary Options No Deposit Bonus for new traders. Sign up to get FREE $30 and turn them into a fully withdrawable $200! Link: $200 Earn with No Deposit Bonus Link:  $100 Free Win in Just One

$30 Free No Deposit Welcome Bonus Campaign – Tickmill

$30 Free No Deposit Welcome Bonus Campaign – Tickmill(0)

$30 Free No Deposit Welcome Bonus Campaign to All new traders. $30 Free Welcome Account is available to all new clients who expressed a wish for it during the registration process. Link:  $30 Free Welcome Bonus Offer Available to: All new traders Ending Date: 31 December 2017 Bonus Offer: $30 Free No Deposit Welcome Bonus

Get $2017 No Deposit Hot Bonus Promotion – FreshForex

Get $2017 No Deposit Hot Bonus Promotion – FreshForex(0)

$2017 No Deposit Hot Forex Bonus Offer to all new verified customers. The $2017 Hot No Deposit Forex Bonus offers you a unique opportunity to test trading strategies of FreshForex Link:  $2017 No Deposit Hot Bonus offers Available to: All New Traders. Ending Date: 30 April 2017 Bonus Offer: $2017 No Deposit Exclusive Hot Bonus

100% Real Money Cash Back Bonus Promotion – UFX

100% Real Money Cash Back Bonus Promotion – UFX(0)

100% Real Money CashBack Promotion 2018 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 2017 Bonus offer: 100% Real

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