• News
  • Tech

Dow futures point to third day of losses after Monday's dive

Dow futures point to third day of losses after Monday's dive

Tuesday's rebound came a day after a steep selloff that brought the biggest percentage daily declines for the S&P 500 and the Dow since August 2011 and a near 1,600 point intraday loss for the Dow. Eastern time. The Dow Jones industrial average added 59 points, or 0.2 percent, to 24,997.

The Dow Jones industrial average rose 317 points, or 1.3 percent, to 25,230.

The slump began Friday as investors anxious that higher inflation and interest rates could derail a long-running rally.

An nearly 2 percent gain for Apple was at the heart of an nearly half percent gain for the Nasdaq Composite.

USA stock markets remain volatile following a violent correction in values that has hit financial markets across the world.

"There would be no need to panic when we start to see swings in the market like we have been", said Corpina. The broader Standard & Poor's 500-stock index ended up 1.75 percent, while the tech-heavy Nasdaq was up 2.1 percent.

Also Wednesday, Australia's S&P/ASX 200 gained almost 0.8 percent to 5,876.80.

The sell-off started Friday when generally positive U.S.jobs figures showed strong wage growth, deepening concerns about inflation and possible rate hikes by the Federal Reserve - a "good news is bad news" scenario. Shanghai and Shenzhen closed down 1.8 and 1.2 percent respectively.

The 30-stock Dow's early free fall Tuesday briefly pushed it into "correction" territory for the first time in two years after it dropped 10% from its recent record high on January 26.

Wall Street could be in store for another bumpy ride. Its latest data show that just 14 percent of all US families directly own shares or stock mutual funds. Earlier, volatile equity markets led investors to seek out lower-risk bonds, but many investors remained nervous after a week-long bond rout sent yields on Monday to four-year highs. And each time, the index, which is the benchmark most professionals and many index funds use, had been meaningfully higher six months later, Calvasina noted. Brent crude, the global standard for oil prices, lost $1.45, or 2.2 percent, to $65.41 a barrel in London.

The stock market has been on a bull run for the past nine years, helped by a growing economy, strong corporate earnings and an extremely loose monetary policy by central banks.

'As ever, we can only wait to see how far markets ultimately fall, but having been expecting a correction for so long, we are relieved to get it over and done with and focus on more fundamental factors. The S&P 500 rose 1.7% to 2,695.

Investors will keep a close eye on the bond market. Germany's DAX was down 1.9 percent at 12,445.

A 10 percent drop from a peak is often referred to as a "correction" while a bear market is generally defined as a 20 percent or so drop in indexes.

Neil Wilson, senior markets analyst at ETX Capital, said of opening on Wall Street: "The valuations were certainly looking attractive on a forward earnings basis, providing attract entry points for a number of stocks. A very crowded trade, it just took a while to unwind that", said John Lynch, Chief Investment Strategist at LPL Financial in Charlotte, North Carolina. Futures markets suggested another, but more limited drop, in the US, with the Dow and S&P 500 futures down 0.9 per cent and 0.5 per cent.

Wednesday's swing was significant, but was dwarfed by the lurching moves the market has made over the last few days.

Currency markets were steady, with the euro down 0.2 per cent at $1.2349 and the dollar 0.2 per cent lower at 109.36 yen.

Leave Your Comment

Leave Your Comment


Latest News

Breaking News



Recommended

Global stocks plunge after Wall Street bloodbath

The Benchmark finished the trade with a 0.16% increase to 21,645.37 points, with investors cautious after the previous session. The euro was a touch firmer at $1.2390, while the dollar was barely changed against a basket of currencies to 89.556.

Leader City drops points for only 4th time in Burnley draw

I feel that we haven't been protected enough in certain situations. We've been beaten 3-0 and 4-1 by them in our two previous games. Who has been playing well, who has been working hard?"

Anadarko Petroleum Corporation (APC) - Critical Levels to Breach

The firm earned "Buy" rating on Wednesday, December 20 by BTIG Research. ( NASDAQ:CAVM ), 10 have Buy rating, 1 Sell and 13 Hold. Franklin Res Incorporated, a California-based fund reported 476,123 shares. 92,300 are held by Employees Retirement Of Texas.

(NYSE:MRO) Holdings Increased by DnB Asset Management AS

Moreover, Diversified Invest Strategies Ltd has 0.36% invested in Bank of America Corporation (NYSE:BAC) for 14,828 shares. Americafirst Capital Management Limited Liability holds 0.45% in Marathon Petroleum Corporation (NYSE:MPC) or 5,928 shares.

'Water Crisis Needs Activism From Civil Society As A Whole'

People queue to collect water from a spring in the Newlands suburb as fears over the city's water crisis grow in Cape Town January 25, 2018.

New Solo: A Star Wars Story Details, Character Names Revealed

So he was ultimately cut from the film and eventually replaced by Bettany , who plays Vos as a human character. Some key new characters in Solo: A Star Wars Story have had their names revealed.

Olympics: Bach hails North, South Korea for harnessing Olympic spirit

He will also visit a memorial dedicated to the 46 South Korean sailors killed in a 2010 torpedo attack attributed to the North. The United States believes North Korea, which has sent a team to the Games, is using the event for crude propaganda.

Four Character Posters Debut For Solo

It has Empire Strikes Back's Lawrence Kasdan as a writer and Ron Howard as director, however, so the storytelling talent is there. A cocky young man claims that he's not only going to become a pilot, he's going to be the best in the galaxy.

Challenge for U-19 champions starts here - Dravid

Ahead of the big game against Pakistan, however, Dravid was stressed more about one thing more than the opposition. I played a lot of school cricket and scored heavily and then went on to play in the Ranji Trophy as well.

Waymo vs Uber: As the case opens, a convoy of allegations

Waymo has accused the ride-hailing app of stealing and using trade secrets for technology surrounding the new autonomous vehicle . JingChi recently started a three-month public trial of its fleet of self-driving cars in the southern coastal city of Guangzhou.