{"id":135992,"date":"2018-10-24T06:30:19","date_gmt":"2018-10-24T10:30:19","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=135992"},"modified":"2018-10-24T06:12:26","modified_gmt":"2018-10-24T10:12:26","slug":"us-stocks-fall-on-weak-earnings","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/10\/us-stocks-fall-on-weak-earnings\/","title":{"rendered":"US stocks fall on weak earnings"},"content":{"rendered":"
October 24, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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SP 500 falls fifth straight session<\/h2>\n<\/div>\n<\/div>\n

US stocks\u00a0<\/b>pullback continued on Tuesday as industrials fell on slowing China growth concerns. The\u00a0S&P 500\u00a0<\/em>fell 0.6% to 2740.69.\u00a0Dow Jones\u00a0<\/em>industrial average lost 0.5% to 25191.43 pairing earlier losses. The\u00a0Nasdaq\u00a0<\/a>composite index slid 0.4% to 7437.54. 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, slipped 0.1% to 95.901 but is higher currently. Futures on stock indices indicate lower openings today.<\/p>\n

\"SP500<\/p>\n

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CAC 40 opens higher than other European indices<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>tumbled on Tuesday on weak corporate reports while the European Commission rejected Italy\u2019s budget proposal for 2019 which plans to raise budget deficit to 2.4% of gross domestic product, and asked the Italian government to rework it. Both the\u00a0EUR\/USD\u00a0<\/em>and\u00a0GBP\/USD\u00a0<\/em>turned higher but are lower currently. The Stoxx Europe 600 lost 1.6%. The German\u00a0DAX 30\u00a0<\/a>tumbled 2.2% to 11274.28. France\u2019s\u00a0CAC 40<\/em>\u00a0dropped 1.7% and UK\u2019s\u00a0FTSE 100\u00a0<\/em>slid 1.2% to 6955.21. Indices opened 0.2% – 0.5% higher today.<\/p>\n

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Asian indices mixed<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are mixed today after a weak session on Wall Street overnight.\u00a0Nikkei\u00a0<\/em>ended 0.4% higher at 22091.18 with yen turning lower against the dollar after Japanese government bond prices rose as the Bank of Japan did not signal any possible change in its bond buying operation. Chinese stocks are recovering following the selloff the previous day as China\u2019s state planner said it would step up financial support for regions most hit by the ongoing trade war between Washington and Beijing: the\u00a0Shanghai Composite Index\u00a0<\/em>is up 0.3% while Hong Kong\u2019s\u00a0Hang Seng index\u00a0<\/em>is 0.2% lower. Australia\u2019s All Ordinaries Index extended losses 0.2% as Australian dollar continued its climb against the greenback.<\/p>\n

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Brent\u00a0<\/a>edges up<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices\u00a0<\/b>are edging higher today as likely tightening of global supplies with the start of US sanction on Iran came into focus again. Prices fell yesterday as traders mulled over Saudi energy minister Khalid al-Falih\u2019s comment Saudi Arabia would increase crude production to 11 million barrels a day, compared with its current average of 10.7 million barrels a day. The American Petroleum Institute reported late Tuesday that US crude inventories rose by 9.9 million barrels last week. Prices tumbled yesterday: December Brent fell 4.3% to $76.44 a barrel Tuesday. Today at 16:30 CET the Energy Information Administration will release US Crude Oil Inventories.<\/p>\n

\nMarket 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 falls fifth straight session US stocks\u00a0pullback continued on Tuesday as industrials fell on slowing China growth concerns. The\u00a0S&P 500\u00a0fell 0.6% to 2740.69.\u00a0Dow Jones\u00a0industrial average lost 0.5% to 25191.43 pairing earlier losses. The\u00a0Nasdaq\u00a0composite index slid 0.4% to 7437.54. The dollar weakened: the\u00a0live dollar index\u00a0data show the ICE US Dollar index, a measure […]<\/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-135992","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/135992","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=135992"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/135992\/revisions"}],"predecessor-version":[{"id":135995,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/135992\/revisions\/135995"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=135992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=135992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=135992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}