United States stocks rise ahead of inflation, retail sales data

13 March, 2018, 19:32 | Author: Regina Silva
  • Traders work on the floor of the New York Stock Exchange  in New York U.S

The Dow Jones Industrial Average .DJI fell 157.13 points, or 0.62 percent, to 25,178.61, the S&P 500 .SPX lost 3.55 points, or 0.13 percent, to 2,783.02 and the Nasdaq Composite .IXIC added 27.52 points, or 0.36 percent, to 7,588.33. The Standard & Poor's 500 index climbed 1.7 percent to 2,786.57. The VIX Volatility Index was higher at 15.78 for a gain of 1.14 points or 7.79%. On Friday, for example, the NASDAQ erased all of its February loss after the Non-Farm Payrolls report showed better-than-expected jobs growth, but also weaker-than-expected average hourly earnings. That helped to dampen inflation concerns that triggered the market's swoon.

The S&P 500 slipped by 0.1 per cent, while the Nasdaq lifted by 0.4 per cent, driven by gains in technology stocks.

TRADE WAR?: China's commerce minister said Beijing wants to resolve disputes with Washington through negotiations but vowed to defend Chinese interests.

TOKYO: A relief rally swept across Asian share markets on Monday after the latest United States jobs report managed to impress with its strength while also easing fears of inflation and faster rate hikes, a neat feat that whetted risk appetites globally. "The rise of trade hawks in the White House casts a dark shadow over trade in Asia", said Mizuho Bank in a report.

ANALYST'S TAKE: "U.S. employment data hit a sweet spot on Friday night".

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Royal Financial Bank Of Canada has 2,908 shares. 383,787 are owned by Lowe Brockenbrough And Inc. (NASDAQ:AMED) or 8,405 shares. The fund owned 54,476 shares of the utilities provider's stock after acquiring an additional 1,551 shares during the quarter.


Meanwhile, technology stocks such as Apple and Microsoft hit new highs Monday, with the sector driving much of the underlying gains in US markets, said Currie. "Any initial enthusiasm may ease as investors digest further trade war rhetoric", said McCarthy.

Wall Street's main indexes closed up almost 2 percent on Friday after data showed US job additions in February grew by a strong clip but wage growth was sluggish. -South Korean military exercises. Trump announced last week he agreed to meet the North's Kim Jong Un by May. Some members of Congress worry Trump acted impulsively in agreeing to meet before negotiators set goals the leaders could agree to.

Bellwether exporting and metal-using stocks Caterpillar and Boeing fell victim to the trade tariff controversy, weakening the Dow industrials.

Oil prices traded lower as Brent crude futures fell 0.61 percent to trade at $65.09 per barrel, while US WTI crude futures declined 0.50 percent to trade at $61.73 a barrel. The contract jumped $1.92 on Friday to close at $62.04. The euro rose to $1.2310 from $1.2313.

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