{"id":136266,"date":"2018-10-29T06:34:53","date_gmt":"2018-10-29T10:34:53","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=136266"},"modified":"2018-10-29T06:34:53","modified_gmt":"2018-10-29T10:34:53","slug":"stocks-end-lower-on-weak-corporate-earnings","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/10\/stocks-end-lower-on-weak-corporate-earnings\/","title":{"rendered":"Stocks end lower on weak corporate earnings"},"content":{"rendered":"
October 29, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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Dow, SP500 slide into negative territory for 2018<\/h2>\n<\/div>\n<\/div>\n

US stock market <\/b> resumed the pullback on Friday as weaker than expected corporate reports cast doubt on companies ability to charge higher prices while their labor costs rise. S&P 500<\/a> fell 1.7% to 2658.69, closing 3.9% lower for the week. Dow Jones <\/em> industrial average lost 1.2% to 24688.31. Both the SP 500 and Dow moved into negative territory for 2018. The Nasdaq <\/em> dropped 2.1% to 7167.21. The dollar strengthening reversed despite report US economic growth in third quarter slowed less than expected: the live dollar index<\/a> data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, slid 0.3% to 96.324 but is higher currently. Futures on stock indices point to higher openings today.<\/p>\n

\"SP500<\/p>\n

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European indices open higher<\/h2>\n<\/div>\n<\/div>\n

European stocks <\/b> retreat continued on Friday after a rebound in previous session. Both the EUR\/USD <\/em> and GBP\/USD<\/em> turned higher and are up currently. The Stoxx Europe 600 Index fell 0.8%, booking 2.5% loss for the week. The DAX 30 <\/em> lost 0.9% to 11200.62. France\u2019s CAC 40 <\/em> dropped 1.3% and UK\u2019s FTSE 100 <\/a> retreated 0.9% to 6939.56. Indices opened 0.2% – 0.8% higher today.<\/p>\n

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Shanghai Composite leads Asian indices retreat<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b> are mostly lower today led by Chinese stocks. Nikkei <\/em> lost 0.2% to 21149.80 despite yen turn lower against the dollar. Chinese stocks accelerated their slide as profit growth at industrial firms slowed for the fifth consecutive month in September: the Shanghai Composite Index <\/em> fell 2.2% while Hong Kong\u2019s Hang Seng <\/em> Index is 0.5% higher. Australia\u2019s All Ordinaries Index extended gains 1.1% despite Australian dollar continued climb against the greenback.<\/p>\n

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Brent <\/a> lower<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices <\/b> are edging lower today as financial market turmoil spur global growth slowdown concerns. Prices gained on Friday despite Baker Hughes report that the number of active US rigs drilling for oil rose for a third week, by 2 to 875 last week: Brent for December settlement rose 1% to close at $77.62 a barrel Friday, falling 2.7% for the week.<\/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 Dow, SP500 slide into negative territory for 2018 US stock market resumed the pullback on Friday as weaker than expected corporate reports cast doubt on companies ability to charge higher prices while their labor costs rise. S&P 500 fell 1.7% to 2658.69, closing 3.9% lower for the week. Dow Jones industrial average lost […]<\/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-136266","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/136266","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=136266"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/136266\/revisions"}],"predecessor-version":[{"id":136270,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/136266\/revisions\/136270"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=136266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=136266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=136266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}