{"id":112310,"date":"2017-09-06T08:40:56","date_gmt":"2017-09-06T12:40:56","guid":{"rendered":"http:\/\/countingpips.com\/?p=112310"},"modified":"2017-09-06T07:01:07","modified_gmt":"2017-09-06T11:01:07","slug":"us-stocks-retreat-as-trading-resumes-after-labor-day","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/09\/us-stocks-retreat-as-trading-resumes-after-labor-day\/","title":{"rendered":"US stocks retreat as trading resumes after Labor Day"},"content":{"rendered":"
September 6, 2017<\/div>
\r\n<\/div><\/div>

By IFCMarkets<\/a><\/p>\n

\n
\n

Fed officials cautious on rate hikes<\/h2>\n<\/div>\n<\/div>\n

US stock index futures\u00a0<\/b>fell on Tuesday as investors reacted to North Korea\u2019s nuclear test Sunday. Trading was thin as traders returned from Labor Day holiday. The dollar weakened: the\u00a0live dollar index<\/a>\u00a0data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, fell 0.3% to 92.292. The\u00a0S&P 500\u00a0<\/em>lost 0.8% settling at 2457.85, with eight out of 11 main sectors closing lower.\u00a0Dow Jones\u00a0<\/em>industrial average fell 1.1% closing at 21753.31. The\u00a0Nasdaq\u00a0<\/a>composite index dropped 0.9% to 6375.57.<\/p>\n

\n
\n

Stocks are trading at historically high valuations with investors concerned about President Trump\u2019s ability to deliver on his tax reform and deregulation promises. Comments by Federal Reserve officials indicated policy makers are concerned about sluggish inflation while the cental bank is planning further tightening. Fed Govermor Lael Brainard said the Fed may have to slow down its pace of interest-rate hikes, citing the recent low readings for inflation. She indicated that the central bank may continue its current expected pace, for one additional hike in 2017 and three in 2018 if low inflation \u201cproves transitory\u201d. Minneapolis Fed President Neel Kashkari said it is very possible that the central bank\u2019s four interest-rate hikes since late 2015 could now be doing \u201creal harm\u201d to the economy. In economic news, factory orders slumped 3.3% in July after strong growth in the previous month on the back of Boeing aircraft orders.<\/p>\n<\/div>\n<\/div>\n

\n
\n

European markets continue slide<\/h2>\n<\/div>\n<\/div>\n

European stock indices\u00a0<\/b>closed lower on Tuesday in choppy risk off trade after North Korea nuclear bomb test Sunday. Both the\u00a0euro<\/em>and\u00a0British Pound\u00a0<\/em>ended higher against the dollar. The Stoxx Europe 600 fell 0.1%. Germany\u2019s\u00a0DAX 30\u00a0<\/a>managed to end 0.2% higher closing at 12123.71. France\u2019s\u00a0CAC 40<\/em>\u00a0lost 0.3% and UK\u2019s\u00a0FTSE 100\u00a0<\/em>fell 0.5% to 7372.92. Markets opened 0.5%-0.7% higher today.<\/p>\n

\"GB<\/p>\n

\n
\n

Asian markets dip<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are lower today tracking Wall Street moves overnight.\u00a0Nikkei\u00a0<\/em>slipped 0.1% to 19357.97 with stronger yen against the dollar hurting exporter stocks. Chinese stocks are lwer: the\u00a0Shanghai Composite Index\u00a0<\/em>is 0.02% down and Hong Kong\u2019s\u00a0Hang Seng Index\u00a0<\/em>is 0.5% lower. Australia\u2019s All Ordinaries Index is down 0.3% despite the weaker Australian dollar against the greenback.<\/p>\n

\n
\n

Oil higher as Hurricane Irma approaches US<\/h2>\n<\/div>\n<\/div>\n

Oil futures prices\u00a0<\/b>are extending gains today. Prices rose Tuesday as refineries impacted by Hurricane Harvey restarted and ramped up operations. Traders are following the Hurricane Irma which is headed towards Caribbean islands and the US. November Brent crude rose 1% to $53.38 a barrel on London\u2019s ICE Futures exchange on Tuesday.<\/p>\n

Market Analysis provided by IFCMarkets<\/a><\/p>

\r\n
\r\n

Free Reports:<\/p><\/div>\r\n

\r\n

<\/a>\r\n\t Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p>

\r\n
\r\n
\r\n

<\/a>\r\n\t Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p>

\r\n<\/div>\r\n

\r\n
<\/div>\n

Note:
\nThis overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or \u0430 recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.<\/p>\n","protected":false},"excerpt":{"rendered":"

By IFCMarkets Fed officials cautious on rate hikes US stock index futures\u00a0fell on Tuesday as investors reacted to North Korea\u2019s nuclear test Sunday. Trading was thin as traders returned from Labor Day holiday. The dollar weakened: the\u00a0live dollar index\u00a0data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-112310","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/112310","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=112310"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/112310\/revisions"}],"predecessor-version":[{"id":112330,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/112310\/revisions\/112330"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=112310"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=112310"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=112310"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}