Tuesday, 4 April 2017
US stock indexes to extend losses amid rising political fears
US stock indexes ended lower on Monday amid mixed economic reports that weighed on market sentiment, while traders moved cautiously ahead of a US-China summit later this week.
The Dow Jones industrial average was down by nearly 10 points yesterday, with Goldman Sachs and DuPont on top of decliners. The S&P 500 was dragged down by materials and consumer discretionary components. The Nasdaq composite also came under pressure.
- Dow Jones Industrial Average: -0.06 percent / 20650.21 points
- Standard & Poor’s 500: -0.16 percent / 2358.84 points
- Nasdaq Composite: -0.29 percent / 5894.68 points
Other news included construction spending for February, which rose by 0.8 percent, falling short from an estimated 1.0 percent growth. Also, vehicle sales disappointed investors with 16.62 million units compared to 17.40 million units initially forecasted.
Market players also paid attention to a series of FOMC speakers in search for hints on the timing of the next Federal Reserve interest rate hike. According to CME Group’s FedWatch tool, chances for a June hike currently stand around 50 percent.
Philadelphia Fed President Patrick Harker said on Monday that the US regulator should increase rates at least two more times this year.
Meanwhile, focus is also directed to a meeting between US President Donald Trump and China’s President Xi Jinping at Florida’s Mar-a-Lago golf resort on April 6-7. Trump has anticipated that the discussion will be “very difficult”, especially on jobs and trade issues.
Today, market players await trade balance for February as of 12:30 GMT, with expectations for a deficit contraction to $44.80 billions. Redbook is due at 12:55 GMT while factory orders for February are expected at 14:00 GMT. Analysts forecasted a 1.0 percent increase.
Outgoing Fed Governor Daniel Tarullo will be giving a speech at 20:30 GMT.
Fort Financial Services
- What’s next? – GOLD, OIL 25.04.17
- Fort account
- Gold and euro: overnight vedettes
- What’s next? – GOLD, OIL 24.04.17
- Weekly Outlook: Apr 24 - Apr 28
- What’s next? – GOLD, OIL 21.04.17
- Trading signals - FOREX consolidates ahead of the ...
- Trump rally: is going to stop?
- What’s next? – GOLD, OIL 20.04.17
- Trading signals - Geopolitics restrain trading act...
- 5 things to quickly improve your trading
- What’s next? – GOLD, OIL 18.04.17
- Understanding safe-haven gold
- What’s next? – GOLD, OIL 17.04.17
- Weekly Outlook: Apr 17 - Apr 21
- Trading signals - US dollar is losing ground on Tr...
- 4 basic questions about interest rates
- What’s next? – GOLD, OIL 13.04.17
- Newbie account
- US stock indexes to open lower; Tillerson-Lavrov m...
- Forex or Stocks?
- What’s next? – GOLD, OIL 12.04.17
- Trading signals - Geopolitics in focus as markets ...
- 5 myths about technical trading
- What’s next? – GOLD, OIL 11.04.17
- US equities under pressure over increasing geopoli...
- Political risk in all fronts
- What’s next? – GOLD, OIL 10.04.17
- Weekly Outlook: Apr 10 - Apr 14
- What’s next? – GOLD, OIL 07.04.17
- Trading signals 6.4.2017
- Trump-Xi meeting to set the tone in financial mark...
- What’s next? – GOLD, OIL 06.04.17
- US stock index futures lower; employment data in f...
- 3 steps to stop losing money on forex
- What’s next? – GOLD, OIL 05.04.17
- What is Fort Financial Services?
- US stock indexes to extend losses amid rising poli...
- Trading signals
- Are ETFs right for you?
- What’s next? – GOLD, OIL 04.04.17
- Wall Street futures higher; economic data in focus...
- US key events to watch this week
- What’s next? – GOLD, OIL 03.04.17
- March ( 54 )
- February ( 46 )
- April ( 44 )
- October ( 4 )
- September ( 6 )
- August ( 3 )
- July ( 6 )
- June ( 3 )
- May ( 1 )
- April ( 1 )
- March ( 6 )
- February ( 4 )
- January ( 4 )
- company news
- Fort account
- Fort Financial Services
- fundamental analysis
- how to
- interest rates
- Newbie account
- non farm payrolls
- presidential elections
- technical trading
- trading signals
- upcoming economic events
- volatile markets
- Wall Street
- weekly outlook
- Who are we