{"id":161466,"date":"2019-12-10T07:22:43","date_gmt":"2019-12-10T12:22:43","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=161466"},"modified":"2019-12-10T07:22:43","modified_gmt":"2019-12-10T12:22:43","slug":"stocks-end-lower-ahead-of-fed-meeting","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/12\/stocks-end-lower-ahead-of-fed-meeting\/","title":{"rendered":"Stocks end lower ahead of Fed meeting"},"content":{"rendered":"
December 10, 2019<\/div>
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By IFCMarkets<\/a><\/p>\n

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Dollar weakening slowed<\/h2>\n<\/div>\n<\/div>\n

US stocks <\/b> snapped three session winning streak on Monday ahead of Federal Reserve\u2019s last policy meeting this year. Trade uncertainty remains high as \u201cphase one\u201d deal has not been reached ahead of December 15 deadline for 15% import duties on $156 billion of annual consumer imports from China. The S&P 500 <\/em> finished 0.3% lower 3135.96. Dow Jones <\/a> industrial fell 0.4% to 27909.60. The Nasdaq <\/em> slid 0.4% to 8621.83. The dollar strengthening halted after the Friday boost following unexpectedly strong nonfarm report showing US economy added 266,000 new jobs in November. 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, slipped less than 0.1% to 97.64 and is lower currently. The Fed two-day policy meeting starts today, and futures on US stock indices point to mixed openings.<\/p>\n

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CAC 40 leads European stocks retreat<\/h2>\n<\/div>\n<\/div>\n

European stock markets <\/b> pulled back on Monday. Both the EUR\/USD <\/em> and GBP\/USD <\/em> reversed their declines yesterday with both pairs higher still. The Stoxx Europe 600 index ended 0.2% lower led by energy stocks. The DAX 30 <\/em> lost 0.5% to 13105.61 despite report German trade surplus rose 14.9% over year in October. France\u2019s CAC 40 <\/em> fell 0.6% while UK\u2019s FTSE 100 <\/a> slipped 0.1% to 7233.90.<\/p>\n

\"EU50<\/p>\n

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Australia\u2019s All Ordinaries Index leads Asian indexes losses<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b> are mixed today as December 15 deadline for additional US tariffs on roughly $160 billion imports from China looms. Nikkei <\/em> slipped 0.1% to 23410.19 despite yen\u2019s resumed decline against the dollar. Markets in China are mixed: the Shanghai Composite Index <\/em> is up 0.1% while Hong Kong\u2019s Hang Seng <\/em> Index is 0.1% lower. Australia\u2019s All Ordinaries Index lost 0.3% as Australian dollar reversed its decline against the greenback.<\/p>\n

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

Brent futures prices <\/b> are gaining today. Prices declined yesterday after data from China showed country\u2019s exports declined for a fourth straight month: February Brent crude closed 0.2% lower at $64.25 a barrel on Monday. Today Saudi Aramco, Saudi Arabia\u2019s giant oil company, announced it will exercise its 15% greenshoe option (an over-allotment option granting the right to sell investors more shares than initially planned by the issuer) in whole or part during the first 30 days of its trading period. Last Thursday the Saudi Aramco priced its IPO at $8.53 a share, valuing the company at $1.7 trillion. The IPO netted $25.6 billion on Thursday. Aramco\u2019s shares are set to begin trading tomorrow on Saudi Arabia\u2019s stock exchange, known as the Tadawul. The $1.7 trillion valuation is short of $2 trillion target set by Saudi Arabia\u2019s crown prince Mohammed bin Salman. Saudi Arabia plans to use the IPO proceeds in diversifying its economy away from oil, as stated in crown prince\u2019s Vision 2030 plan to modernize the economy released in 2016.<\/p>\n

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Gold inching up<\/h2>\n<\/div>\n<\/div>\n

Gold <\/b> prices are recovering today. Prices slipped yesterday ahead of the Federal Reserve last policy meeting in 2019. February gold lost 0.01% to $1,464.90 an ounce Monday after 1.2% drop on Friday following the surprisingly strong November jobs report.<\/p>

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

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 weakening slowed US stocks snapped three session winning streak on Monday ahead of Federal Reserve\u2019s last policy meeting this year. Trade uncertainty remains high as \u201cphase one\u201d deal has not been reached ahead of December 15 deadline for 15% import duties on $156 billion of annual consumer imports from China. The S&P […]<\/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-161466","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/161466","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=161466"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/161466\/revisions"}],"predecessor-version":[{"id":161470,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/161466\/revisions\/161470"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=161466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=161466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=161466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}