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Market Overview


US stocks pullback deepened on Thursday as prospect of continued tightening weighed on market sentiment after hawkish Fed minutes. The S&P 500 dropped 1.4% to 2768.78. Dow Jones industrial average fell 1.3% to 25379.45. The Nasdaq composite lost 2.1% to 7485.14. The dollar strengthening slowed as initial jobless claims fell to 49-year lows while the Philadelphia Fed manufacturing index for October came in slightly below last month’s reading: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, gained 0.3% to 95.919 but is lower currently. Futures on stock indices point to higher openings today.

US stocks pulled back on Wednesday after the release of minutes from the Federal Reserve’s September meeting. The S&P 500 slipped 0.03% to 2809.21. The Dow Jones industrial average lost 0.4% to 25706.68. Nasdaq composite index edged 0.04% lower to 7642.70. The dollar strengthening accelerated as minutes revealed policy makers supported gradual rate increases despite President Trump’s criticism of Fed’s rate hikes policy: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, rose 0.6% to 95.621 and is higher currently. Futures on stock indices indicate mixed openings today.

US stocks ended sharply higher on Tuesday on upbeat earnings and data as technology shares led the recovery. The S&P 500 rallied 2.2% to 2809.92. Dow Jones industrial average climbed 2.2% to 25798.42 led by Goldman Sachs and United Health which reported better than expected results for third quarter earnings. The Nasdaq composite index jumped 2.9% to 7645.49. The dollar strengthening resumed as the 0.3% rise in industrial production in September beat expectations of 0.2%: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, edged up 0.04% to 95.065 and is higher currently. Futures on stock indices point to mixed openings today.

US stocks edged lower on Monday pairing part of Friday gains as technology shares retreated. The S&P 500 slid 0.6% to 2750.79. Dow Jones industrial slipped 0.4% to 25250.55. The Nasdaq composite index fell 0.9% to 7430.74. The dollar strengthening halted on mixed data: US budget deficit jumped to $779 billion, and the 0.1% rise in retail sales in September was less than expected. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, lost 0.2% to 95.023 but is higher currently. Futures on stock indices indicate higher openings today.

US stock market rebounded on Friday led by technology shares. S&P 500 ended 1.4% up at 2767.13, closing 4.1% lower for the week. Dow Jones industrial average gained 1.2% to 25339.99. The Nasdaq rallied 2.3% to 7496.89. The dollar strengthening resumed as import prices rose 0.5% in September: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, gained 0.3% to 95.249 but is lower currently. Futures on stock indices point to lower openings today.

US equities pullback slowed on Thursday after S&P 500 and Dow logged their biggest one-day drop since February. The S&P 500 fell 2.1% to 2728.37 with all of the 11 mains sectors ending lower. Dow Jones industrial average lost 2.1% to 25052.83. The Nasdaq composite slid 1.3% to 7329.06 after dipping briefly into correction territory – declining more than 10% from the most recent 52-week high. The dollar weakening accelerated after data showed lower than expected inflation for September. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, fell 0.5% to 95.006 and is lower currently. Futures on stock indices indicate higher openings today.

US equities pulled back on Wednesday as Treasury yields remained at elevated levels. The S&P 500 fell 3.3% to 2785.68 led by technology shares. The Dow Jones industrial average lost 3.2% to 25589.74. Nasdaq composite index dropped 4.1% to 7422.05. The dollar weakening accelerated despite report wholesale prices measured by producer price index rose faster in September than the previous month: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, fell 0.24% to 95.455 and is lower currently. Futures on stock indices indicate lower openings today.

US stock market retreat continued on Tuesday while the Nasdaq edged higher as technology stocks recovered. The S&P 500 slipped 0.1% to 2880.34. Dow Jones erased previous session gain ending 0.2% lower at 26430.57. The Nasdaq composite index added 0.03% to 7738.02. The dollar strengthening reversed as 10-year Treasury yields dipped after hitting a fresh 7-year high above 3.25%: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, lost 0.1% to 95.663 and is lower currently. Futures on stock indices indicate mixed openings today.

US equities edged lower on Monday while Dow ended marginally higher. The S&P 500 slipped 0.04% to 2884.43. Dow Jones industrial rose 0.2% to 26486.78. The Nasdaq composite index fell 0.7% to 7735.95. The dollar strengthening resumed on continuing gains in government bond yields: live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, added 0.15% to 95.754 and is higher currently. Futures on stock indices point to lower openings today.

US equities extended losses on Friday as concerns about rising yields outweighed positive jobs report. S&P 500 ended 0.6% lower at 2885.57, closing 1% lower for the week. Dow Jones industrial average lost 0.7% to 26447.05. The Nasdaq fell 1.2% to 7788.45. The dollar strengthening halted as unemployment fell from 3.9% to 3.7% in September, 48-year low: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, was little changed at 95.786 and is higher currently. Futures on stock indices indicate lower openings today.