{"id":146920,"date":"2019-05-03T06:30:55","date_gmt":"2019-05-03T10:30:55","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=146920"},"modified":"2019-05-03T06:07:29","modified_gmt":"2019-05-03T10:07:29","slug":"stocks-retreat-persists-after-powell-undermines-rate-cut-hopes","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/05\/stocks-retreat-persists-after-powell-undermines-rate-cut-hopes\/","title":{"rendered":"Stocks retreat persists after Powell undermines rate-cut hopes"},"content":{"rendered":"
May 3, 2019<\/div>
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By IFCMarkets<\/a><\/p>\n

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Dollar strengthening accelerates on strong productivity data<\/h2>\n<\/div>\n<\/div>\n

US stock market <\/b> extended losses on Thursday following Fed chair Powell\u2019s comments cutting rates was not the central bank\u2019s planned path for interest rates. The S&P 500 <\/em> slipped 0.2% to 2917.52. The Dow Jones <\/em> industrial average slid 0.5% to 26307.79. Nasdaq <\/a> composite index lost 0.2% to 8036.77. The dollar strengthening accelerated as data showed above expected productivity growth in the first quarter of 2019 and similar performance for factory orders in March, while initial jobless claims for unemployment benefits rose more 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, rose 0.2% to 97.83 and is higher currently. Futures on US stock indexes point to higher openings today.<\/p>\n

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DAX 30 manages uptick while European indices dip<\/h2>\n<\/div>\n<\/div>\n

European stocks <\/b> pullback continued on Thursday with mixed corporate reports and weak data of little support. GBP\/USD <\/em> joined EUR\/USD\u2019s<\/em> slide as bank of England kept rates unchanged. Both pairs are currently lower. The Stoxx Europe 600 index slid 0.6% as factory activity in the euro zone contracted for a third month in April. Germany\u2019s DAX 30 <\/a> however ended marginally higher edging up 0.01% to 12345.42. France\u2019s CAC 40 <\/em> fell 0.9% and UK\u2019s FTSE 100 <\/em> lost 0.5% to 7451.31.<\/p>\n

\"DE30<\/p>\n

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Australia\u2019s All Ordinaries Index down while Hang Seng climbs more<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b> are mixed today. Markets in Japan and mainland China are closed for a holiday. Yen turned higher against the dollar. Hong Kong\u2019s Hang Seng Index <\/em> is 0.5% higher. Australia\u2019s All Ordinaries Index extended losses 0.04% despite Australian dollar continued slide against the greenback as Australian home building approvals fell sharply.<\/p>\n

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Brent <\/a> down after US crude output increase<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices <\/b> are extending losses today. Prices fell yesterday on reports US crude production edged up by 100,000 barrels to a record 12.3 million barrels a day: July Brent crude lost 2% to $70.75 a barrel on Thursday.<\/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 Dollar strengthening accelerates on strong productivity data US stock market extended losses on Thursday following Fed chair Powell\u2019s comments cutting rates was not the central bank\u2019s planned path for interest rates. The S&P 500 slipped 0.2% to 2917.52. The Dow Jones industrial average slid 0.5% to 26307.79. Nasdaq composite index lost 0.2% to […]<\/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-146920","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/146920","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=146920"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/146920\/revisions"}],"predecessor-version":[{"id":146922,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/146920\/revisions\/146922"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=146920"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=146920"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=146920"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}