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

Free $30 Earn Trade-able Trading Credit Bonus – Forex Time

Free $30 Earn Trade-able Trading Credit Bonus – Forex Time(0)

Switch to ForexTime and Free $30 Earn Trade-able Trading Credit Bonus. Join the hundreds of thousands of traders around the world who have already chosen ForexTime as a broker and Free Earn $30 Trade-able Trading Credit Bonus as a thank you for switching. Link:  Receive $30 Tradeable Credit Bonus Link:  Loyalty Cashback Promotions Link:  FX

$100 Risk Free Money on your Live Account – FidelisCM

$100 Risk Free Money on your Live Account – FidelisCM(0)

Get $100 Free Risk Forex Money on your Live Account There is no better way to trust more. Sign up for $100  No Deposit Bonus from FidelisCM Live Account and start forex trading now. Link: $100 Free No Deposit Forex Bonus Link: 200% Margin Bonus on all Deposit Available to: New and Existing clients Ending

$14000 New Accounts Bonus on Initial Deposits – AvaTrade

$14000 New Accounts Bonus on Initial Deposits – AvaTrade(0)

Up to $14000 New Accounts Bonus on your Initial Deposits to all new trading account. Open a new live trading account and verify it Make a deposit of no less than $100 and request the New Accounts Bonus. Link:  100% Bonus to Your First Deposit Link:  30% Sign-up Bonus on your Deposit Link:  Up to

Up to 200% Withdrawable Cashback Bonus – Forex Time

Up to 200% Withdrawable Cashback Bonus – Forex Time(0)

Always aims for profitable promotions for FXTM Customer, this time they have come up with a 200% Cashback Rebate Bonus promo which enables traders to earn up to 10,000 USD withdraw able Cashback bonus. Link:  Receive $30 Tradeable Credit Bonus Link:  FX Circuits Live Trading Contest Link:  Demo Forex Trading Contest Link:  Loyalty Cashback Promotions

$2500 Forex No Deposit Free Startup Bonus – InstaForex

$2500 Forex No Deposit Free Startup Bonus – InstaForex(0)

$2500 Free No Deposit Forex Bonus to Start Risk Forex Trading on InstaForex.com‎. With $2500 Free Forex Bonus you will be able to estimate our unsurpassed quality of order execution in live trading conditions with no risk and personal investments. Link:  Up to $5000 No Deposit Free Bonus Link:  $500 Forex No Deposit Free Bonus

100% Special Bonus Offer on a Deposit – World Forex

100% Special Bonus Offer on a Deposit – World Forex(0)

Get a 100% Special Bonus Offer on a Deposit plus for replenishment account And a free VPS server for every account replenishment in the amount of 100 USD. Link:  $10 No Deposit Forex Special Bonus Link:  Deposit $5 Receive $20 Special Bonus Link:  100% Forex Special Deposit Bonus Available to: All new trading account Ending

50 USD Forex No Deposit Bitcoin Bonus offer – UFX

50 USD Forex No Deposit Bitcoin Bonus offer – UFX(0)

$50 Forex No Deposit Bonus on their real account. This initial $50 Forex No Deposit Bonus offer is intended to allow new users of the platform the opportunity to test the real trading account. Link:  $50 No Deposit Bonus Promotion Link:  $50 Free No Deposit Bitcoin Bonus Link:  100% Real Money CashBack Promotion Available to:

Deposit $5 Receive $20 Forex Special Bonus – WForex

Deposit $5 Receive $20 Forex Special Bonus – WForex(0)

$10 Forex No Deposit Free Bonus or Deposit $5 Receive $20 Special Bonus Forex to all World Forex New Clients only. Trade with World Forex Broker Get 20$ or 10$ on your choice Link:  $10 Forex No Deposit Free Bonus Link:  Deposit $5 Receive $20 Special Bonus Available to: All new trading account Ending Date:

25 USD Receive Forex Cash Bonus for Free – Xtrade

25 USD Receive Forex Cash Bonus for Free – Xtrade(0)

$25 Receive Forex Cash Bonus for Free No deposit required to all Xtrade New Clients only and 60% Forex Deposit Bonus on your first time deposit to all new live trading account Link:  Up to $5000 No Deposit Free Bonus Link:  $500 Forex No Deposit Free Bonus Link:  $1000 Forex No Deposit Free Bonus Link: 

50% Deposit Bonus for Every Deposit – Fort Financial

50% Deposit Bonus for Every Deposit – Fort Financial(0)

Up to 50% Deposit Bonus for Every Deposit. Open and fund an account at FortFS.com and receive an exclusive 50% bonus on top of your initial investment up to $1000. Link: Up to 50% Bonus of Every Deposit Link: $5 Forex No Deposit Welcome Bonus Link: 15% Support Margin Bonus Available to: New and Existing

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