{"id":114484,"date":"2017-10-10T07:20:37","date_gmt":"2017-10-10T11:20:37","guid":{"rendered":"http:\/\/countingpips.com\/?p=114484"},"modified":"2018-06-01T15:55:40","modified_gmt":"2018-06-01T15:55:40","slug":"us-stocks-retreat-in-thin-trading","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/10\/us-stocks-retreat-in-thin-trading\/","title":{"rendered":"US stocks retreat in thin trading"},"content":{"rendered":"
October 10, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

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SP 500, Dow and Nasdaq end lower<\/h2>\n<\/div>\n<\/div>\n

US stocks<\/b>\u00a0closed lower on Monday in thin trading. The dollar continued weakening: 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 0.1% to 93.709.\u00a0S&P 500\u00a0<\/em>closed 0.2% lower settling at 2544.70 led by health care, industrial and financial stocks. Six out of 11 main sectors ended lower. The\u00a0Dow Jones\u00a0<\/a>industrial average slipped 0.1% to 22761.07 weighed by 3.9% drop in GE shares. The\u00a0Nasdaq\u00a0<\/em>composite index lost 0.2% to 6579.73, snapping nine session winning streak.<\/p>\n

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Trading was thin with banks closed in US for Columbus Day holiday. Traders were cautious to make big bets in thin trading as no major economic reports were released which could drive the markets. As investors await earnings reports with first quarterly bank reports scheduled for Thursday major investment banks are optimistic stock market performance will beat current expectations. Despite trading near all-time highs.<\/p>\n<\/div>\n<\/div>\n

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European stocks rebound<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>rebounded on Monday as market sentiment was boosted by surprisingly good German industrial production data and easing of Spanish political unrest concerns. Both the\u00a0euro\u00a0<\/em>and\u00a0British Pound\u00a0<\/em>rose against the dollar. The Stoxx Europe 600 index rose 0.2%. The\u00a0DAX 30\u00a0<\/em>ended 0.2% higher at 12976.40. France\u2019s\u00a0CAC 40\u00a0<\/em>rose 0.1%. UK\u2019s\u00a0FTSE 100\u00a0<\/a>fell 0.2% to 7507.89. Indices opened mixed today.<\/p>\n

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Concerns about Catalonia possible cessation eased after hundreds of thousands of people gathered in Barcelona to protest possible declaration of independence by Catalonia. Spanish stocks recovered. Market sentiment got a lift also by much stronger than expected German industrial output report: German industrial output grew 2.6% on month in August when just 0.9% growth was forecast, pointing to renewed strong growth while the German coalition government talks have not started yet.<\/p>\n<\/div>\n<\/div>\n

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

Asian stock indices<\/b>\u00a0are higher today shrugging off the slide on Wall Street overnight.\u00a0Nikkei\u00a0<\/em>closed 0.6% higher at 20823.51 as markets opened after national holiday Monday with yen little changed against the dollar. Chinese stocks are up as China\u2019s Statistics Bureau said the country will have no problem meeting its economic growth target of around 6.5% this year, and may even beat it.\u00a0Shanghai Composite Index\u00a0<\/em>is 0.1% higher and Hong Kong\u2019s\u00a0Hang Seng\u00a0<\/em>Index is up 0.6%. Australia\u2019s All Ordinaries Index is up less than 0.1% despite a rebound in Australian dollar against the greenback.<\/p>\n

\"AU<\/p>\n

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Oil edges higher<\/h2>\n<\/div>\n<\/div>\n

Oil futures prices\u00a0<\/b>are inching higher today as OPEC said there were clear signs the market was rebalancing and US Gulf coast production was offline following Hurricane Nate. Prices rose Monday after OPEC\u2019s secretary-general said \u201csome extraordinary measures may have to be taken\u201d to sustain the market\u2019s rebalancing process into next year. The remark was interpreted implying extending output cuts agreed by OPEC and other oil producers. December Brent crude rose 0.3% settling at $55.79 a barrel on ICE Futures exchange in London on Monday.<\/p>\n

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

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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 SP 500, Dow and Nasdaq end lower US stocks\u00a0closed lower on Monday in thin trading. The dollar continued weakening: the\u00a0live dollar index\u00a0data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, fell 0.1% to 93.709.\u00a0S&P 500\u00a0closed 0.2% lower settling at 2544.70 led by […]<\/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-114484","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/114484","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=114484"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/114484\/revisions"}],"predecessor-version":[{"id":114494,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/114484\/revisions\/114494"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=114484"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=114484"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=114484"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}