Business

US stocks may give background in early trading

After rising in the last few sessions, stock prices could fall in early Monday trading. Major index futures are currently market, Dow futures are down 143 points.

Profit taking could contribute to Wall Street’s first weakness, and traders are taking advantage of recent market strengths.

The Dow and S & P 500 hit a month-long high last Friday, but there are still concerns about the short-term outlook for the market.

Concerns about the outlook for the global economy could also weigh on the market after the data show Chinese Economy Power shortages, supply bottlenecks, sporadic Covid-19 outbreaks, and turmoil in the real estate sector led to the slowest growth pace of the year in the third quarter.

According to the National Bureau of Statistics, China’s GDP increased 4.9% year-on-year in the third quarter of 2021, below the 5.2% forecast, a significant decrease from 7.9% three months ago.

Wall Street’s downturn momentum also occurs as Treasury yields continue to rise, with benchmark 10-year bond yields rising to their highest levels in more than four months.

Treasury yields are rising as the Federal Reserve Board of Governors plans to begin curtailing bond purchases as early as next month.

Stock prices almost rose during Friday’s trading, extending the rise seen during Thursday’s session. The Dow and S & P 500 continued to rise, hitting a month-long high.

The Dow was above the corresponding, but all major averages closed steadily positively. The Dow rose 382.20 points (1.1%) to 35,294.76, the Nasdaq rose 73.91 points (0.5%) to 14,897.34, and the S & P 500 rose 33.11 points (0.1%) to 4,471.37.

With the progress seen in the last few sessions, the key average was more than offsetting the slump seen at the beginning of the week. This week, the Nasdaq rose 2.2% and the Dow and S & P 500 rose 1.6% and 1.8%, respectively.

In overseas trading, the stock market in the Asia-Pacific region fluctuated in the trading on Monday. Japan’s Nikkei 225 index fell 0.2% and Hong Kong’s Hang Seng index rose 0.3%.

On the day of the event, major European markets are also on a downward trend. France’s CAC 40 index fell 1%, Germany’s DAX index fell 0.8%, and the UK’s FTSE 100 index fell 0.5%.

Commodity trading has skyrocketed from $ 1.30 to $ 83.58 after crude oil futures jumped from $ 0.97 to $ 82.28 last Friday. Meanwhile, gold futures have fallen from $ 2.20 to $ 1,766.10 per ounce after plunging from $ 29.60 to $ 1,768.30 per ounce in the previous session.

On the currency side, the US dollar is trading at 114.33 yen, compared to 114.13 yen at the end of the New York trading on Friday. The dollar is trading at $ 1.1602 against the euro, compared to $ 1.1601 last Friday.

Contact for comments and feedback: editorial@rttnews.com



US stocks may give background in early trading

Source link US stocks may give background in early trading

Back to top button