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Home / Business / Stocks pause for breath after a record four-day run on Wall Street

Stocks pause for breath after a record four-day run on Wall Street



The Wednesday Market Minute

  • Global stock market decline after four consecutive record sessions on Wall Street as investors worry that NAFTA's focus will put China's trade deal on hold
  • China is stalling and pulling Asia Shares in the red Markets tighten tariffs on US $ 200 billion US exports
  • European equities are weakening in light of ongoing concerns over bank lending in Turkey; The pound is down 1.3 against the dollar on a positive Brexit call.
  • Oil expands profits after US crude oil stocks have declined sharply and sanctions against the sale of Iranian crude oil
  • U.S. Equity futures suggest that the S & P 500 could hold a 2,900 mark, even though markets are pausing due to the recent record rally.

Market Snapshot

Global stocks go down Thursday after markets fell back after four consecutive record sessions on Wall Street. Fears that the White House's focus on trading talks with its North American counterparts may be a potential deal with China into the future.

Bargaining with Canada on Friday for President Donald Trump's negotiating table In order to reach an agreement that would revise the current arrangement with the three North American economies, investors are worried that the US will have the NAFTA deal as well as the upcoming ones Intermediate elections will be the focus of trade talks with China.

China's economy is also showing signs of weakness as the state-run commission earlier this week has ordered the planning of long-term growth warnings that "greater efforts" will be needed to achieve its goals as the world's second largest economy prepares for a new round of $ 200 billion worth of customs duties next month.

China shares were weaker on Thursday, with the Shanghai Composite falling more than 1

% in the close, while the Bluechip CSI 300 Index slid 0.92%. The move pulled the MSCI Asia ex-Japan Index, the broadest share of the region, 0.41% into the red as the session ended, although Japan's Nikkei 225 managed to catapult itself into a 0.09% increase Dailu progress.

As usual, Chinese stocks closed lower #Shanghai composite fell 1.1% to 2737. #Shenzhen component fell 1.5%. #Chinext fell 1.6%, 5, 10 and 20 days moving average. pic.twitter.com/9qHq8Gxs9y

– YUAN TALKS (@YuanTalks) August 30, 2018

European equities were also weaker in the open sector, with continuing concerns over the banking industry's exposure Turkey, where the lira has depreciated against the US dollar after being severely downgraded by its domestic lenders by Moody & # 39; s Investors Service, dampened gains across the region. The regional benchmark, Stoxx Europe 600, fell 0.43% to 384.91 points in the first 30 minutes of trading, followed by a slightly higher percentage decline in Germany and France.

#Turkey Lira extends the decline Erdogan says that everyone will see that Turkey has alternatives. Looks like the markets are not seeing these alternatives. pic.twitter.com/vFWpC5WkmH

– Holger Zschaepitz (@Shuldensuehner) August 30, 2018

The British FTSE 100 opened up 0.76% after the pound had risen to a three and a half-week high from 1.3033 against the US dollar, according to comments by Michel Barnier, Chief Negotiator of Brexit of the European Union, who proposed to the United Kingdom "to offer a partnership unlike any other third country."

Wall Street futures were also more modest after the S & P 500 closed at an all-time high of 2,914.04 points after the record session last night – the fourth straight – struck Apple Inc. (APPL) The new record of $ 222.98 and Amazon Inc. (AMZN) is at $ 25 million after closing at a market value of $ 1 trillion following a large price increase by Morgan Stanely.

Contracts linked to the Dow Jones Industrial Average indicate a pulldown of 66 points, while those linked to the S & P 500 indicate a 5.7 point decline for the broader benchmark the Nasdaq Composite falls by 13.6 points to the opening bell.

Sales of Salesforce Inc. (CRM) shares were pre-IPO on Thursday after the business software market delivered stronger-than-expected earnings in the three months ended July, but gave a lukewarm forecast for the current quarterly results spending to maintain its market share against competitors such as Microsoft Inc. (MSFT) and Oracle Inc. (ORCL)

The action Alerts Plus with Salesforce shares was 3.58% lower than Wednesday's pre-trade. This suggests an opening price of $ 149.26 per share, which would result in an annual gain of around 46%.

Global oil prices contributed to last night's gains, while WTI crude increased $ 1 in futures, according to Energy Information Administration data, which showed that domestic crude stocks last week were much higher than expected 2.57 Millions of barrels have fallen and Brent has risen in light of US sanctions for selling Iranian crude oil

Brent crude oil contracts for the November delivery were trading 25 cents higher from their Wednesday closing price in New York, moving to early 77.71 euros per barrel in early European trade, while WTI contracts for October delivery are more closely linked to gold US gas prices were 12 cents higher at $ 69.63.


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