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Fundamental Analysis
US stocks extend losses as Apple approaches bear market
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[QUOTE="IFC Markets, post: 155366, member: 18359"] [SIZE=5][B]Fed seen holding steady after strong inflation data[/B] [B][/B][/SIZE] [B]US equities [/B]slide deepened on Wednesday as Apple approached bear territory. The S&P 500 lost 0.8% to 2701.58. The [I]Dow Jones [/I]industrial average slid 0.8% to 25080.50. [I]Nasdaq [/I]composite index fell 0.9% to 7136.39. The dollar weakening slowed after strong October inflation report, in line with forecasts, gave no reason to expect a change in Fed’s tightening pace: 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, slipped 0.04% to 96.97 and is lower currently. Futures on stock indices indicate higher openings today. [SIZE=5][B]CAC 40 opens higher than other European indices[/B] [B][/B][/SIZE] [B]European stocks [/B]resumed declining on Wednesday. [I]EUR/USD [/I]extended gains despite Italy confirming original plans for 2019 budget deficit while the [I]GBP/USD[/I] edged lower despite Prime Minister May success to get cabinet support for her Brexit proposal negotiated with the EU. Both pairs are higher currently. The Stoxx Europe 600 lost 0.6%. Germany’s [I]DAX 30 [/I]slid 0.5% to 11412.53. France’s CAC 40 fell 0.7% and UK’s [I]FTSE 100 [/I]slipped 0.3% to 7033.79. Indices opened 0.2% - 0.5% higher today. [SIZE=5][B]Hang Seng leads Asian indices rebound[/B] [B][/B][/SIZE] [B]Asian stock indices[/B] are mostly higher today on US-China trade talks progress hopes. [I]Nikkei [/I]lost 0.2% to 21803.62 with yen little changed against the dollar. China’s stocks rebounded supported by news China had sent a written response to US demands for trade reform: the [I]Shanghai Composite Index [/I]is up 1.4% and Hong Kong’s [I]Hang Seng Index [/I]is 1.6% higher. Australia’s All Ordinaries Index added 0.1% while the Australian dollar climb against the greenback persisted. [IMG]https://ifccd.net/uploads/image/HK50_O_15Nov2018.png[/IMG] [SIZE=5][B]Brent up despite expected US inventories build[/B] [B][/B][/SIZE] [B]Brent futures prices [/B]are edging higher today. Yesterday the American Petroleum Institute reported that US crude supplies rose by 8.8 million barrels last week. Prices ended higher yesterday: the January Brent crude gained 1% to $66.12 a barrel on Wednesday. Today at 16:30 CET the Energy Information Administration will release US Crude Oil Inventories. [/QUOTE]
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