DOLLAR SEEKS REFUGE AS U.S. STOCKS FALL ON REVENUE, OIL

DOLLAR SEEKS REFUGE AS U.S. STOCKS FALL ON REVENUE, OIL

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DOLLAR SEEKS REFUGE AS U.S. STOCKS FALL ON REVENUE, OIL

– U.S. Stocks Fall on Oil, Incomes as Dollar Retreats

– U.S. May Be Finding It Difficult to Break-through amid Feeble Economy

DOLLAR SEEKS REFUGE AS U.S. STOCKS FALL ON REVENUE, OIL

DOLLAR SEEKS REFUGE AS U.S. STOCKS FALL ON REVENUE, OIL
U.S. President Barack Obama

On Monday, the U.S. stock rates slumped due to weaker oil prices and unsatisfactory company results. And ahead of central bank policy meetings in the United States and Japan later this week, the dollar already withdrew on income winning.

Unwillingness to realize big stakes in advance of these policy-maker meetings boosted profits of the U.S. government to four-week peaks and German profits to their maximum in five weeks.

According to Rick Meckler, president of investment firm LibertyView Capital Management in Jersey City, New Jersey, “This is hardly a big sell-off but we are having trouble breaking through (to new highs on the Standard & Poor’s 500 index) because of a lack of consistently good earnings and economic data.”

A wonder drip in new U.S. home sales in March reinforced a view of feeble U.S. economic growth. This may preserve the U.S. central bank from raising interest rates.

DOLLAR SEEKS REFUGE AS U.S. STOCKS FALL ON REVENUE, OIL

The Federation is extensively anticipated to leave rates unchanged on Wednesday, while the Bank of Japan will reveal a policy update on Thursday with some analysts calculating that it may shove key charges deeper into undesirable terrain.

“Central banks are still the name of the game,” said Jan von Gerich, chief strategist for developed markets at Nordea in Helsinki, Finland.

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DOLLAR SEEKS REFUGE AS U.S. STOCKS FALL ON REVENUE, OIL
Traders Monitoring Stocks Sheet

In addition, there were signs that a three-month rally in equity and commodity markets is cooling.

According to Reuters, the following statistics were presented.

The Dow Jones industrial average DJI fell 26.51 points, or 0.15%, to 17,977.24, the S&P 500 .SPX declined 3.79 points, or 0.18%, to 2,087.8 and the Nasdaq Composite .IXIC shed 10.44 points, or 0.21%, to 4,895.79.

The pan-European FTSEurofirst 300 .FTEU3 index, which hit a three-month peak last week, fell 0.6% to 1,364.13 points.

Tokyo’s Nikkei .N225 ended 0.8% lower.

The MSCI world equity index .MIWD00000PUS, which tracks shares in 45 nations, fell 1.05 points or 0.26%, to 405.87.

Lower energy prices and disappointing results and guidance from Perrigo Co. (PRGO.N) and Xerox Corp (XRX.N) knocked the major U.S. stock market indexes lower.

DOLLAR SEEKS REFUGE AS U.S. STOCKS FALL ON REVENUE, OIL

Brent oil futures LCOc1 settled down 63 cents or 1.4% at $44.48 a barrel, while U.S. oil futures CLc1 finished $1.09 or 2.49% lower at 42.64 following a report that showed a spike in U.S. crude inventory.

A weaker dollar limited the drop in oil prices, keeping them not far from five-month highs.

The dollar index, DXY fell 0.3% at 94.82.

Sterling, meanwhile, hit its highest in more than two months as “Brexit” worries ebbed in the wake of U.S. President Barack Obama’s remarks over the weekend, urging Britain to stay in the European Union. The pound rose 0.5% at $1.4477 GBP=D4 after hitting its highest since Feb. 15 in earlier trading.

In the bond market, U.S. 10-year Treasury yields touched a four-week high at 1.913% as investors awaited clues on future interest rate increases from the Fed. The yield on 10-year German Bunds DE10YT=RR reached 0.278%, the highest since mid-March.

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Spot gold prices XAU= rose $5.45 or 0.44%, to $1,237.36 an ounce on a weaker dollar.

DOLLAR SEEKS REFUGE AS U.S. STOCKS FALL ON REVENUE, OIL