Stock market quotes, forex, financial news, forex tools – money-investing.com

US stock market drops

 Breaking News
  • US Ministry of Energy predicts reduction of oil prices The US Ministry of Energy has published a monthly report, which turned out to be discouraging. It is expected that in the last quarter of this year the price for...
  • 28 Chinese companies are blacklisted by the US Everyone knows that just in few days two powerful states China and the USA – are starting the next round of the negotiations. Official Beijing has announced that it is...
  • Startup WeWork again in spotlight We have been writing about the startup WeWork, which was forced to postpone the initial public offering. They earn by renting commercial space for a long time in order to...
  • Massive cuts in HSBC HSBC Holdings Plc, the largest bank in Europe and one of the most significant and serious players in the global financial market, has announced the launch of a cost-optimization program....
  • Oil quotes still wait for negotiations Today, at 8.15 a.m. Moscow time, futures for Brent crude oil were trading in London for $ 58.31 per barrel. This is only 0.1% below the closing price of the...
US stock market drops
October 03
09:00 2019

The US stock market is still going into a nosedive. This is the worst start of the quarter in ten years. In its global sense, a slowdown in the US economy is the reason for the fall.

The report on the state of the national labor market was published yesterday. The number of jobs in the United States in September has increased 135 thousand people. Analysts were more optimistic evaluating this indicator at 140 thousand people. The index of business activity in the manufacturing sector fell in September (from 49.1 to 47.8 points). Last time such index values were observed in mid-2009. By the way, the manufacturing sector in the United States accounts for 12% of the economy.

The figures released by the US Department of Energy also became a bearish factor. The report has shown that stocks of “black gold” in the country have grown 3.1 million barrels. Real data are fundamentally different from the expert consensus forecast (1.3 million barrels).

Shares of energy companies have dropped because of this disappointing statistics. Quotes of the two largest US automakers – General Motors and Ford – have fallen 3.3% and 4%, respectively. This happened after Ford had published reports on disappointing sales over the past quarter.

The situation overseas doesn’t seem to be stable. Together with the global slowdown in the economic growth, all of these factors make analysts think that the Federal Reserve will continue to cut rates.

All major indices have shown a serious decline (at the close of trading on Wednesday):

– The Dow Jones Industrial Average index has fallen 1.86% to 26,078.62 points;

– Standard & Poor’s 500 has dropped 1.79%- to 2887.61 points;

– Nasdaq Composite is down 1.56% and amounts to 7785.25 p.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment