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

300% Trad-able Special Bonus Promotion – MarketsYes

300% Trad-able Special Bonus Promotion – MarketsYes(0)

300% Forex Tradable Special Bonus Promotion All New and existing clients. MarketsYes is offering all prospective clients deposit for up to 3000 USD/EUR/GBP a 300% Tradable Special Bonus. Link:  300% Tradable Bonus Promotion Available to: All New and existing clients Ending Date: 31 December 2017 Bonus offer:  300% Tradable Special Bonus Promotion All New and

100% Deposit Bonus and Forex Free Signals – Trade12

100% Deposit Bonus and Forex Free Signals – Trade12(0)

Forex Free Trading Signals via SMS. EMAIL. SKYPE. WHATSAPP and 100% Welcome Deposit Forex Bonus to your Live Trading Account. Link:  Free Daily Forex Trading Signals Link:  Get 100% Welcome Deposit Bonus Link:  Forex Trade and Win 2 Tickets Available to: All new clients Ending Date: 31 December 2017 Bonus Offer: Get 100% Welcome Deposit

100% New Account Bonus Up to $300 – Ava Trade

100% New Account Bonus Up to $300 – Ava Trade(0)

100% New Account Deposit Bonus to your first deposit Up to $300. Start trading today and in honour of our Irish roots we’ll give you a St. Patricks Day special bonus of up to 100% Link:  100% Special Bonus to Your First Deposit Available to: All new account Ending Date: 31 December 2017 Bonus offer:

$20 Phone Validation Welcome Forex Bonus – LMFX

$20 Phone Validation Welcome Forex Bonus – LMFX(0)

$20 Phone Validation Welcome Forex Bonus to All New Traders. The $20 Phone Validation Forexc Bonus is available for all the Clients who have successfully opened and funded their trading account with the Company in accordance with the Account Opening Agreement. Link:  $20 Phone Validation Welcome Forex Bonus Available to: All new traders Ending Date:

Live Trading Competition & 20% Deposit Bonus – FirewoodFX

Live Trading Competition & 20% Deposit Bonus – FirewoodFX(0)

Forex Live Account Trading Competition and 20% Forex Deposit Bonus . FirewoodFX presents the forex live account Trading Competition 1 with cash prize more than $1000! Be the winner by achieving the highest profit! Link: Live Account Trading Competition Link: 20% Bonus Make $100 Deposit or More Available to: All new and existing Ending Date:

$50 Free Bonus Without a Deposit – Adamant Finance

$50 Free Bonus Without a Deposit – Adamant Finance(0)

Free $50 Forex No Deposit Welcome Bonus to all new Traders. Receive $50 for Forex Free Bonus Without a Deposit and test the terms on a real account, without transfering any money. Link:  $50 No Deposit Free Welcome Bonus Ending Date: 31 December 2018 Available to: All new Traders Bonus Offer: Free $50 Forex No

Binary Options Free Demo Trading Tournament – CBFinvest

Binary Options Free Demo Trading Tournament – CBFinvest(0)

Binary Options Free Demo Trading Tournament total 2000$ cash prizes. Any Spotoption brand can start offering immediately binary options Tournaments, without spending a fortune on programming and without waiting for months Link:  Binary Options Free Demo Tournament Available to: All Customers AMAZING FEATURES Rebuys – for Tournaments based on demo, the feature of Rebuys allows

Risk Free Trading plus Free Forex Signals – MarketsYes

Risk Free Trading plus Free Forex Signals – MarketsYes(0)

300% Forex Deposit Bonus Promotion and Forex Risk Free Trade plus Forex Free Signals All New and existing clients. MarketsYes is offering all prospective clients deposit for up to 3000 USD/EUR/GBP a 300% Tradable Bonus. Link:  300% Tradable Bonus Promotion Link:  Risk Free Trade plus Forex Free Signals Available to: All New and existing clients

50% Bonus of Every Deposit – Fort Financial Services

50% Bonus of Every Deposit – Fort Financial Services(0)

Up to 50% 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: Up to 50% Bonus of Every Deposit Link: $5 Forex No Deposit Welcome Bonus Link: 15% Support Margin Bonus Link:  Profit

123% Tradable Deposit Bonus Promotion – FreshForex

123% Tradable Deposit Bonus Promotion – FreshForex(0)

Get 123% Tradable Deposit Bonus Promotion gives a real chance to start Forex trading with low investment and double return. Start efficient Forex trading with Tradable Bonus 123% Campaign. Link:  123% Tradable Deposit Bonus Promotion Link:  $5 Forex No Bonus Promotion Ending Date:  31 December 2017 Available to:   New Clients only Bonus Offer: Get 123%

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