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Fundamental Analysis
US stocks log fifth straight loss
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[QUOTE="IFC Markets, post: 167890, member: 18359"] [SIZE=5][B]Dollar weakens despite rising hourly earnings[/B][/SIZE] [B]US stock indexes [/B]losses continued on Friday despite strong labor market data. The S&P 500 lost 0.7% to 2932.05, falling 3.1% for the week. [I]Dow Jones [/I]industrial slid 0.4% to 26485. The [I]Nasdaq [/I]fell 1.3% to 8004.07. The dollar weakening accelerated despite report average hourly earnings rose 3.2% year-over-year in July while unemployment ticked up to 3.7% from 3.6%. 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 0.3% to 98.07 and is lower currently. Stock index futures point to lower market openings today [IMG]https://ifccd.net/uploads/image/DJI_O_05August2019.jpg[/IMG] [B][SIZE=5]CAC 40 leads European indexes retreat[/SIZE] European stocks [/B]pulled back on Friday on intensified global slowing concerns after US threat of new tariff on Chinese goods if Chinese side doesn’t move faster in bilateral US-China trade talks. [I]GBP/USD [/I]joined[I] EUR/USD’s[/I]continued recovery on Friday with euro higher currently while Pound’s slide resumed. The Stoxx Europe 600 Index tumbled 2.7% Friday. The [I]DAX 30 [/I]fell 3.1% to 11872.44. France’s [I]CAC 40 [/I]tumbled 3.6% and UK’s FTSE 100 fell 2.3% to 7407.06. [B][SIZE=5]Hang Seng still loss leader among Asian indexes[/SIZE] Asian stock indices[/B] are falling today against the background of escalating US-China trade standoff as protesters in Hong Kong called for a general strike. [I]Nikkei [/I]fell 1.7% to 20720.29 as yen continued its climb against the dollar. China’s markets are retreating as investors watch for yuan fluctuations after central bank said it had resources to keep the currency stable following the breach of seven yuan for dollar level: the [I]Shanghai Composite Index [/I]is down 1.6% and Hong Kong’s [I]Hang Seng [/I]Index is 2.9% lower. Australia’s All Ordinaries Index extended losses 1.9% despite the accelerating Australian dollar slide against the greenback. [B][SIZE=5]Brent down[/SIZE] Brent futures prices [/B]are edging lower today on world growth slowing concerns. Prices rose on Friday: Brent for October settlement ended 2.3% higher at $61.89 a barrel Friday, nevertheless closing 2.3% lower for the week. [/QUOTE]
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