Subscribe to RSS

Market Overview:  Tweet Oil slump weighing on markets

US stocks ended sharply lower on Tuesday as oil slide continued and investors sold off energy and financial stocks. The dollar weakened on falling risk appetite. According to live dollar index data the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, fell 0.2% to 99.821. The S&P 500 dropped 1.9% to 1903.03, with energy and financial stocks leading the decliners, down 3.3% and 2.6% respectively. The Dow Jones Industrial lost 1.8% and the Nasdaq Composite closed 2.2% lower. Developments in energy sector have been a major determinant of market sentiment recently. Investors are concerned the prolonged slump in oil prices is an indicator of global economic slowdown. Exxon Mobil fell 2.2% after the major US oil company reported a 58% drop in fourth-quarter profits, announced plans to cut capital spending by 25% compared with 2015 levels and suspended share repurchases. Meanwhile Alphabet shares rose 1.3% on better-than-expected quarterly earnings report, propelling the Google parent company past Apple as the world’s most valuable company: Alphabet’s market capitalization reached $531 billion compared with Apple’s $524 billion. Today at 13:00 CET Mortgage applications will be released in US. At 14:15 CET January Employment Change will be published by ADP. The tentative outlook is negative. At 15:45 CET January final Services PMI will be released by Markit. And at 16:00 CET January ISM Services PMI will be published. The tentative outlook is positive.

European stock indexes closed sharply lower on Tuesday dragged down by commodity and financial shares. The euro strengthened against the dollar trading at $1.0922 late Tuesday compared with $1.0924 Monday. The Stoxx Europe 600 index dropped 2.1%. Germany’s DAX 30 fell 1.8% to 9581.04, and France’s CAC 40 lost 2.2%. Markets shrugged off positive economic data indicating Germany’s unemployment rate slipped to 6.2% from 6.3% in December, the lowest since 1992. BP shares sank 8.7% after the company posted a $2.2 billion loss in the fourth quarter, though kept its quarterly dividend of 10 cents a share. Today from 09:45 – 9:55 CET January Services PMIs for Italy, France and Germany will be released. The tentative outlook is positive. At 10:00 CET January final Services PMI will be published in euro-zone. The tentative outlook is neutral. At 10:30 CET January Service PMI will be released in UK. The tentative outlook is positive.

Nikkei dropped 3.2% today as market sentiment was undermined by declining oil prices, and increased demand for heaven assets resulted in stronger yen. Investors sold off risky assets despite Bank of Japan Governor Kuroda’s remarks today that the central bank has “ample room” to expand the program of asset purchases from the current annual pace of 80 trillion yen.

Chinese stocks are falling today with the CSI300 index of 300 stocks on Shanghai or Shenzhen Stock Exchanges down 0.43%. Investors sold off equities notwithstanding new mortgage rules aimed at supporting property prices: China said it would reduce the minimum down payment required for first and second-time home buyers in most cities.

Oil futures prices are edging higher today after recording another sharp drop on Tuesday on fading hopes of cooperation between Russia and OPEC to cut output. March WTI fell 5.5% to $29.88 a barrel on the New York Mercantile Exchange following a 6% loss the previous day. US official Crude Oil Inventories will be released today at 16:30 CET by the Energy Information Administration. Traders anticipate a build-up in inventories as the report from American Petroleum Institute, an industry group, indicated US crude stocks rose by 3.8 million barrels to 500.4 million.

Gold prices stabilized today near a three-month high at $1,128.12 an ounce for spot gold. A weaker dollar and prospect of lower interest rates for longer period on the back of concerns for global economic slowdown support higher demand for the safe-haven metal.

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

100% Withdrawable Bonus on your First Deposit – NordFX

100% Withdrawable Bonus on your First Deposit – NordFX(0)

Up to 150% Bonus for a First Time to binary options Account. For a perfect start, we offer you a 150% bonus for a first-time $5,000 deposit. Link:  Up to 150% Bonus for a First Time Link:  100% Withdrawable Deposit Bonus Link:  55% Deposit Bonus Promotion Link:  DemoCup contest  prize fund is $42000 Available to:

$10 Free Credited into your account – Champion FX

$10 Free Credited into your account – Champion FX(0)

$10 Free Welcome Credited Bonus into your account. Sign up for a ChampionFX Cent live trading account today and get a Free Welcome Forex Credited Bonus worth USD 10 Link:  $10 Free Credited Available to: New and Existing Traders. Ending Date: 31 December 2018 Bonus Offer: $10 Free Welcome Credited into your account to All

Monthly Live Forex Trading Competition – Tickmill Ltd.

Monthly Live Forex Trading Competition – Tickmill Ltd.(0)

Forex Monthly Live Trading Competition. Put your forex trading skills to test and win up to $1000 every Month! Forex Live Trading Competition is only available for clients of Tickmill Ltd.(FSA Regulated) Link:  Weekly Demo Race Trading Contest Link:  $30 Free Welcome Bonus Offer Link:  Forex Monthly Live Trading Contest Available to: All new traders

Get $1500 Forex No Deposit Welcome Bonus – InstaForex

Get $1500 Forex No Deposit Welcome Bonus – InstaForex(0)

Get $1500 No Deposit Forex Bonus from InstaForex no need to risk your own money if you have already got funds to earn more money. The $1500 No Deposit Free Bonus from InstaForex is an exciting opportunity to start Forex live trading. Link:  $500 Forex No Deposit Free Bonus Link:  $1000 Forex No Deposit Free

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

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