Subscribe to RSS

Market Overview:  US markets retreat as oil prices slump

US stocks closed lower on Wednesday as investors sold off energy stocks after oil prices fell. The dollar weakened as it consolidated after recent rally, with the ICE US Dollar index, a measure of the dollar’s strength against a basket of six major currencies, edging down 0.2% to 99.1090 as indicated by the live dollar index data. The S&P 500 index closed 0.3% lower to 2,075 with energy and health-care stocks leading losses. The Dow Jones Industrial Average and the Nasdaq Composite were also down 0.32%. Retailers were hit after Macy’s Inc reported an unexpected fall in the third quarter same-store sales and cut its sales and earnings outlook for the holiday quarter ending in January. Macy’s shares sank 13.99%, while JC Penney slid 1.84% and shares of Nordstrom, Dillard’s and Kohl’s dropped between 3% and 9%. Oil companies sold off on expected rise in US crude oil inventories. Trading volume was light at 6.2 billion shares, about 12% below daily average for the past 20 trading days. Today at 14:30 CET initial jobless claims and unemployment claims will be released in US.The tentative outlook is positive. Several Federal Reserve policy makers will be speaking today on economy at various central bank events. At 15:15 CET Federal Reserve Bank of St. Louis President James Bullard speaks on monetary policy in Washington DC. At 15:45 CET Federal Reserve Bank of Richmond President Lacker participates in monetary policy panel. At 15:30 CET Fed Chair Yellen will deliver opening remarks at the conference on monetary policy in Washington DC. At 16:00 CET Job Openings and Labor Turnover Survey results will be released. At 16:15 CET Federal Reserve Bank of Chicago President Evans speaks on economy in Chicago. And at 18:15 CET Federal Reserve Bank of New York President William Dudley speaks on economy in New York.

European stocks extended gains on Wednesday led by brewers and supported by positive earnings reports. The euro edged 0.3% higher against the dollar. The Stoxx Europe 600 gained 0.7%. Shares of Danish brewer Carlsberg were among the biggest gainers after rising 9% as the company said it will cut 2000 jobs to boost earnings. SABMiller PLC shares ended 1.9% higher as the maker of Miller Lite and Peroni agreed to be bought out for about $106 billion by rival Anheuser-Busch InBev. A 6.7% jump in Henkel shares after German consumer goods maker posted a bigger-than-expected increase in third-quarter earnings helped push German DAX 30 up 0.7% to close at 10,907.87. In economic news German exports fell 0.6% in the third quarter due to slowdown in China’s economy, as well as recessions in Brazil and Russia. Today at 9:30 CET European Central Bank President Draghi testifies to lawmakers at European Parliament. At 11:00 CET September final Industrial Production will be released in euro-zone. The tentative outlook is positive.

Nikkei edged 0.03% higher today as core machinery orders, a leading indicator of capital expenditure, rose 7.5% in September, the first increase in four months. But companies forecast only 2.9% rise in October-December after a 10% decline in July-September, indicating a slow recovery from an expected recession.

Oil prices are edging higher today after falling 3% on Wednesday as data from the American Petroleum Institute late Tuesday showed a surprise jump in US crude-oil supplies of 6.3 million barrels for the week ended November 6. Traders are waiting for the official report on US stockpiles today which will be released at 17:00 CET.

More Details

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

$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

$15 Cashback Rebate Bonus per Lot Traded – FBS

$15 Cashback Rebate Bonus per Lot Traded – FBS(0)

$15 Cash back Rebate Forex Bonus per Lot Traded to All new traders. $15 Cashback Rebate Forex Bonus service is unavailable for the clients, who registered their accounts via their partners. Link:  $15 Cashback Rebate per Lot Traded Link:  100% Forex Deposit Bonus Promotion Link:  100% Forex Deposit Bonus Promotion Available to: All new traders

100% Easy Welcome Deposit Bonus Promo – Trade12

100% Easy Welcome Deposit Bonus Promo – Trade12(0)

Free Daily Forex Trading Signals via SMS. EMAIL. SKYPE. WHATSAPP and 100% Easy Welcome Deposit Bonus Promo to your Live Trading Account, Free E-Books Link:  Free Daily Forex Trading Signals Link:  Get 100% Welcome Deposit Bonus Link:  Get Forex Free E-Books Available to: All new clients Ending Date: 31 December 2017 Bonus Offer: Get 100%

$50 Forex Free No Deposit Bonus Promo Action – FortFs

$50 Forex Free No Deposit Bonus Promo Action – FortFs(0)

$50 Forex Free 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 Forex Free No Deposit Bonus Promo Action Link: $50 Forex No Deposit Welcome Bonus Link: Up to 50% Bonus of Every Deposit Link: 15% Support Margin Bonus Promo

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