JPE | Josepauloecon: US Market - Monday, 04 January 2016

segunda-feira, 4 de janeiro de 2016

US Market - Monday, 04 January 2016

Source: ADVFN Newsdesk <newsdesk@advfn.co.uk>

This text was copied from the source above mentioned. 

The major U.S. index futures are pointing to a lower opening on Monday, with sentiment reflecting the aggravation of risk aversion, as China-turmoil hits the markets. Commodities are rallying as geopolitical worries surrounding the Iran-Saudi Arabian conflict drove up prices, especially of oil, which is moderately higher after ending 2015 with over a 31 percent loss. The dollar is firmer except against commodity currencies. The near 7 percent sell-off in China earlier in the day could lead the U.S. markets to an extremely negative start to the year. Traders may also pay attention to two separate U.S. manufacturing readings due shortly after the markets open.

U.S. stocks ended the last week of the year 2015 on a down note, capping off a year of volatility engendered by Fed rate hike fears and the precipitous slump of commodities, spearheaded by oil.

Last Monday, the major averages came under pressure, as lower commodity prices served as a drag. Nevertheless, the averages recovered from their early slump and ended modest lower. Helped by a stalling in the retreat of oil prices and a positive U.S. consumer confidence reading, the averages rebounded on Tuesday, ending notably higher.

Weak pending home sales data and oil's retreat pulled the major averages moderately lower on Wednesday. Notwithstanding a rebound by oil prices, stocks retreated notably on Thursday amid light volumes ahead of the extended weekend.

For the week ended December 31st, the Dow Industrials lost 0.72 percent, while the S&P 500 Index and the Nasdaq Composite lost about 0.80 percent each.

The Dow, at 17,425, ended down 2.23 percent for the year and 4.85 percent off its record closing high of 18,312. The S&P 500 Index was also in the red for the year, closing 0.73 percent lower at 2,044, down 4 percent from an all time closing high of 2,129. The Nasdaq Composite ended at 5,007, up 5.73 percent for the year but down 4.05 percent from its record closing high of 5,219.

Among the sectors, the NYSE Arca Gold Bugs Index fell 4.76 percent for the week andthe NYSE Arca Oil & Gas Index, the Philadelphia Semiconductor Index and the NYSE Arca Airline Index all lost over 3 percent.

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