U.S. Stocks Close Lower Again As Growth Worries Weigh

RTTNews | 904天前
U.S. Stocks Close Lower Again As Growth Worries Weigh

(RTTNews) - U.S. stocks closed lower on Monday, extending losses to a fourth straight session, as rising concerns over a recession amid rising interest rates hurt sentiment.

The Federal Reserve last week indicated it plans to continue raising interest rates next year, leading to worries the aggressive monetary policy tightening will tip the economy into a recession.

Fed Chair Jerome Powell said the central bank will require "substantially more evidence" inflation is on a sustained downward trend before halting its rate hikes, traders are likely to keep a close eye on the inflation reading.

The major averages all ended notably lower. The Dow settled with a loss of 162.92 points or 0.49 percent at 32,757.54, the S&P 500 dropped 34.70 points or 0.90 percent to settle at 3,817.66, and the Nasdaq ended lower by 159.38 points or 1.49 percent at 10,546.03.

In U.S. economic news today, the National Association of Home Builders released a report showing homebuilder confidence in the U.S. has unexpectedly seen a continued deterioration in the month of December.

The report showed the NAHB/Wells Fargo Housing Market Index fell to 31 in December from 33 in November. The decreased surprised economists, who had expected the index to rise to 36.

The housing market index declined for the twelfth straight month, falling to its lowest reading since mid-2012, with the exception of the onset of the pandemic in the spring of 2020.

Technology stocks posted sharp losses as bond yields rose amid bets the central bank will continue with its rate hikes.

Shares of Apple Inc., Microsoft and Alphabet all ended notably lower.

Meta Platforms shed more than 4 percent, weighed down by an announcement from the European Commission that it could impose a fine of up to 10 percent of the company' annual global turnover if there is an evidence showing Meta has infringed antitrust laws.

Disney shares dropped nearly 5 percent after its "Avatar. The Way of the Water" reported lower than expected sales in its opening weekend.

Nike ended 2.7 percent down, and Home Depot closed nearly 2% down. Cisco, American Express, Visa, IBM, Goldman Sachs and Intel also ended weak.

In overseas trading, stock markets across the Asia-Pacific region moved mostly lower during trading on Monday. Japan's Nikkei 225 Index slid by 1.1 percent, while China's Shanghai Composite Index dove by 1.9 percent.

The major European markets closed higher, due largely to bargain hunting at several counters after last week's selloff. Data showing an improvement in German business confidence in December helped as well.

The pan European Stoxx 600 climbed 0.27%. The U.K.'s FTSE 100 surged 0.4%, Germany's DAX surged 0.36% and France's CAC 40 advanced 0.32%.

Reports on housing starts, consumer confidence, new and existing home sales and durable goods orders are likely to attract attention in the coming days.

read more
European Shares Seen Tad Lower At Open

European Shares Seen Tad Lower At Open

European stocks may drift lower on Wednesday as market participants assess the outcome of U.S.-China trade negotiations.
RTTNews | 1小時57分鐘前
Sensex, Nifty Marginally Higher In Lackluster Trade

Sensex, Nifty Marginally Higher In Lackluster Trade

Indian shares were marginally higher on Wednesday after top U.S. and Chinese officials agreed on a "framework" to move forward on trade, following two days of high-level talks in London.
RTTNews | 3小時8分鐘前
Australian Market Trims Early Gains In Mid-market

Australian Market Trims Early Gains In Mid-market

The Australian market is trimming its early gains in mid-market moves on Wednesday, but extending the gains in the previous session, with the benchmark S&P/ASX 200 moving above the 8,600 level to fresh all-time highs, following the positive cues from Wall Street overnight, with gains in iron ore miners, energy and financial stocks partially offset by weakness in gold miners and technology stocks.
RTTNews | 4小時9分鐘前
Asian Markets Track Wall Street Higher

Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Wednesday, following the broadly positive cues from Wall Street overnight, amid easing trade war tensions after top U.S. and Chinese officials agreed upon a "framework" to move forward on trade, following two days of high-level talks in London. The framework will first need to be approved by leaders in Washington and Beijing.
RTTNews | 4小時33分鐘前
Sensex, Nifty Set For Muted Start

Sensex, Nifty Set For Muted Start

Indian shares are seen opening little changed on Wednesday despite top U.S. and Chinese officials agreeing on a "framework" to move forward on trade, following two days of high-level talks in London.
RTTNews | 5小時2分鐘前
Thai Bourse May Extend Tuesday's Gains

Thai Bourse May Extend Tuesday's Gains

The Thai stock market on Tuesday ended the two-day slide in which it had slipped more than 5 points or 0.4 percent. The Stock Exchange of Thailand now rests just beneath the 1,140-point plateau and it may tick higher again on Wednesday.
RTTNews | 5小時34分鐘前
Japanese Market Modestly Higher

Japanese Market Modestly Higher

The Japanese stock market is trading modestly higher on Wednesday, extending the gains in the previous three sessions, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving above the 38,300 level, with gains across most sectors led by index heavyweights and technology stocks. Financial stocks are a weak spot.
RTTNews | 5小時59分鐘前
Indonesia Shares May Open To The Upside

Indonesia Shares May Open To The Upside

The Indonesia stock market has moved higher in three straight sessions, gathering almost 190 points or 2.7 percent along the way. The Jakarta Composite Index now rests just above the 7,230-point plateau and it's looking at a firm lead again for Wednesday's trade.
RTTNews | 6小時4分鐘前