Stocks are sharply lower on concerns of weak consumer spending
Stocks are sharply lower and Treasury prices are soaring in early trading Monday as investors around the world fear that consumers are too skittish to help lift the economy into recovery.
U.S. stocks are down sharply after overseas markets extended the heavy selling that began Friday. That pullback followed a weaker-than-expected reading on consumer confidence.
Stocks move higher ahead of Fed rate decision
Stocks moved modestly higher in early morning trading Wednesday, ahead of the Federal Reserve’s interest rate announcement, a day after the market posted its biggest losses in five weeks.
A new report showing the nation’s trade deficit edged up less than expected in June had little effect on trading. The Commerce Department said the deficit increased to $27 billion from $26 billion in May, which was the lowest level since November 1999.
Stocks are slightly lower amid sluggish retail report
Stocks are trading slightly lower early Thursday. Support by gains in overseas markets and an encouraging outlook from Cisco Systems Inc. are being outweighed by a sluggish retail report.
The market’s gains, however, were muted by sluggish July sales reports from retailers, as worries about job losses kept consumers from spending freely. Expectations had been low though, so the dips in sales didn’t come as much of a surprise to the market.
Equity markets opened lower this morning, but have erased most of those losses and has moved back near the unchanged line.
Sept crude oil traded in negative territory overnight and remains there in recent trading activity. Crude hit lows just before the open of pit trading of $70.16 per barrel and attempted to rally, bouncing around 1.7% higher to $71.36 per barrel. Currently, crude has given back some of those gains and is currently 1% lower at $70.86 per barrel.
Sept natural gas is also trading in negative territory from overnight. Nat gas hit lows of $3.868 around 40 minutes after the open of pit trading and is currently trading about 2.5% lower at $3.931.
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Stocks are up sharply amid better-than-expected earnings and new data on unemployment
Major indexes are following counterparts overseas, which are rising because of upbeat profit reports. Japanese shares rose to nearly 10-month highs on better-than-expected earnings at automakers Nissan Motor Co. and Honda Motor Co. European markets were buoyed by better-than-expected results at British telecommunications company BT Group PLC and its French peer Alcatel-Lucent SA as well as the drugmaker AstraZeneca PLC.