{"id":132020,"date":"2018-08-16T06:38:33","date_gmt":"2018-08-16T10:38:33","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=132020"},"modified":"2018-08-16T06:38:33","modified_gmt":"2018-08-16T10:38:33","slug":"us-stocks-dip-despite-upbeat-data","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/08\/us-stocks-dip-despite-upbeat-data\/","title":{"rendered":"US stocks dip despite upbeat data"},"content":{"rendered":"
August 16, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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US market retreats on Turkey crisis impact concerns<\/h2>\n<\/div>\n<\/div>\n

US stock market\u00a0<\/b>pulled back on Wednesday as worries Turkey financial crisis may spread weighed on market sentiment. The\u00a0S&P 500<\/a>\u00a0fell 0.8% to 2818.37, led by energy shares. The\u00a0Dow Jones\u00a0<\/em>industrial average lost 0.5% to 25162.41.\u00a0Nasdaq<\/em>composite index dropped 1.2% to 7774.12. The dollar strengthened helped by report of rising retail sales and productivity: 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, inched up 0.04% to 96.678 but is falling currently. Stock index futures indicate higher openings today.<\/p>\n

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Trade dispute concerns outweighed any boost to optimism after upbeat data pointed to expectations of strong economic performance in third quarter too. Retail sales rose 0.5% in July, above expectations. Productivity in the second quarter rose 2.9%, the highest rate in more than three years. Output in the second quarter was up 4.8%. And the Empire State manufacturing index rose to 25.6 in August, when a reading of 20 was expected.<\/p>\n<\/div>\n<\/div>\n

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DAX 30 opens higher than main European indices<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>ended firmly lower on Wednesday led by commodity shares. The\u00a0GBP\/USD<\/em>\u00a0continued the slide while\u00a0EUR\/USD<\/a><\/em>\u00a0ended flat and both are rising currently. The Stoxx Europe 600 lost 1.4%. Germany\u2019s\u00a0DAX 30\u00a0<\/em>fell 1.6% to 12163.01. France\u2019s\u00a0CAC 40\u00a0<\/a>slumped 2.1% and UK\u2019s\u00a0FTSE 100\u00a0<\/em>dropped 1.5% to 7497.87. Indices opened 0.2 % – 0.3% higher today.<\/p>\n

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Turkey remained in focus as it raised its tariffs on US cars, alcohol, tobacco, cosmetics, rice and coal by the same aggregate amount that US doubling of tariffs on Turkish metals exports to the United States last week amounted. Turkish lira rebounded after Qatar reportedly pledged to invest $15 billion in Turkey following a meeting between Turkish President Recep Tayyip Erodgan and Qatar\u2019s Sheikh Temim bin Hamed Al Sani.<\/p>\n<\/div>\n<\/div>\n

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Asian indices selloff slows as China agrees to trade talks with US<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are mostly in negative territory today despite some relief after news China has agreed to take part in trade negotiations with the US later this month.\u00a0Nikkei\u00a0<\/em>ended 0.1% lower at 22192.04 erasing earlier losses helped also by cotninued yen slide against the dollar. China\u2019s stocks are lower: the\u00a0Shanghai Composite Index\u00a0<\/em>is down 0.6% and Hong Kong\u2019s\u00a0Hang Seng Index\u00a0<\/em>is 1% lower. Australia\u2019s All Ordinaries Index slipped 0.01% as Australian dollar turned higher against the greenback.<\/p>\n

\"AU200\"<\/p>\n

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Brent\u00a0<\/a>recovering<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices\u00a0<\/b>are rebounding today. Prices fell yesterday after the Energy Information Administration reported bigger than expected buildup in crude stockpile: US domestic crude supplies rose by 6.8 million barrels last week when 3.7 million barrels increase was forecast. Prices ended sharply lower yesterday: October Brent crude fell 2.4% to $70.76 a barrel on Wednesday.<\/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 US market retreats on Turkey crisis impact concerns US stock market\u00a0pulled back on Wednesday as worries Turkey financial crisis may spread weighed on market sentiment. The\u00a0S&P 500\u00a0fell 0.8% to 2818.37, led by energy shares. The\u00a0Dow Jones\u00a0industrial average lost 0.5% to 25162.41.\u00a0Nasdaqcomposite index dropped 1.2% to 7774.12. The dollar strengthened helped by report 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-132020","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/132020","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=132020"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/132020\/revisions"}],"predecessor-version":[{"id":132025,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/132020\/revisions\/132025"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=132020"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=132020"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=132020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}