USA stocks lose momentum a day after Dow's record gain

Wall Street notches best day in 10 years in holiday rebound

Wednesday's super-sized gain was a much-needed breather for a market that is having its worst December since the Great Depression.

At the same time, S&P 500 retailing index and Nasdaq recorded their strongest daily percentage gains in nearly ten years.

To call the bottom, Antonelli is looking for, along with other indicators, at least two consecutive days in which the percentage of stocks rising exceeds 90, an event that happened today. Many economic barometers still look encouraging. "And it's also looking for opportunities to reposition and lessen risk".

Adding to investors' fears, Treasury Secretary Steven Mnuchin made an unusual announcement that major us banks had "ample liquidity", adding confusion about banks' health to already volatile market conditions. Traders and investors, cited by Reuters, said that technical market factors also contributed to the rally.

But the gains halved as a pan-European equity index fell 1.1 percent after a strong open and export-reliant German shares lost 2 per cent. The Nasdaq Composite dropped 97.16 points, or 1.48 per cent, to 6,457.19 at the opening bell. Among big retailers, Amazon rose 9.4 percent, Kohl's 10.3 percent and Nordstrom 5.8 percent. The Russell 2000 index of smaller-company stocks gave up 36 points, or 2.8 percent, 1,293.

Technology companies, a big driver of the market's gains before things deteriorated in October, slumped Thursday.

Perrigo lost 5.7 percent to $38.39, one of the big decliners in the health care sector.

The rally in NY fed through to Japan, where the Nikkei pulled out of bear market territory to turn 4% higher overnight.

Russian Federation says Israeli strikes on Syria threatened two civilian flights: Ifax
First Secretary of Defense Jim Mattis resigned, then Brett McGurk, the special envoy to the anti-IS coalition, stepped down. Turkey's official news agency says prosecutors are investigating two prominent actors for comments on a television program.

"The markets are saying there's a greater than 50 percent chance we enter a recession and fundamentals don't support it and fundamentals win", Zidle said.

Energy stocks.SPNY rose 1.8 percent as crude oil prices rebounded. KeyCorp declined 3.9 percent to $14.13 as the yield on the 10-year Treasury fell to 2.73 percent from 2.79 percent late Wednesday. Newmont Mining was the only S&P 500 member to fall.

Benchmark U.S. crude dropped 2.6 percent to $45.04 a barrel in NY.

Oil prices were a bright spot, with the U.S. benchmark oil price up by 10 per cent to $46.79 a barrel and the global benchmark price, Brent crude, increasing 9 per cent to $55.14.

The dollar strengthened to 111.36 yen from 110.41 yen on Monday. The euro strengthened to $1.1444 from $1.1351.

Gold edged up 0.1 per cent to $1,273 an ounce and silver gained 2 per cent to $15.12 an ounce. Commonwealth Bank closed 2.5 per cent higher at $70.33, Westpac climbed 1.4 per cent to $24.19, NAB lifted 1.9 per cent to $23.34 and ANZ closed at $23.70, up 1.5 per cent.

The slide in US markets followed a sell-off in major indexes in Europe. Britain's FTSE 100 fell 1.1 percent.

Declining issues outnumbered advancers for a 5.52-to-1 ratio on the NYSE and for a 3.13-to-1 ratio on the Nasdaq.

Related News:



Most liked

Very Interesting - Claude Puel Sees Encouraging Signs Ahead of Manchester City Visit
Ben Chilwell played the goalscorer onside as Aymeric Laporte and Aguero combined to tee him up for a crisp finish past Schmeichel.

ISIS claim attack on Libyan Ministry of Foreign Affairs in Tripoli
The group took control of the coastal city of Sirte in 2015 but lost it late in 2016 to local forces backed by U.S. airstrikes. Bach Agha said he found "zero weapons and zero vehicles" in the ministry's warehouses when he took up his job in October.

EPL: Pogba strikes twice as Man United win on Solskjaer home debut
As has been the case umpteen times this season, Huddersfield paid the price for failing to capitalise when in the ascendancy. That's tradition, that's history, that's how we want to play.

Justice Ruth Bader Ginsburg released from hospital after cancer surgery
Ginsburg, who was appointed by president Bill Clinton in 1993, is one of four liberals on the nine-member court. The nodules were discovered during tests to treat her rib fractures.

Kate Middleton And Meghan Markle Share Sweet Moment At Royals’ Christmas Service
The Duchesses of Cambridge and Sussex have been dogged by rumours they aren't bosom buddies for months. Daniels added, "It seemed like a lovely family outing for them the day before Christmas Eve".

Trump asks boy, 7, if he still believes in Santa Claus
While working on Christmas Eve keeps technicians away from family and friends, it is still a mission they look forward to. On Google Maps, leading up to Christmas Eve, Santa will even "share" his location with you as the evening progresses.

India vs Australia 2018: Virat is an absolute gentleman, says Ravi Shastri
When you look at his domestic record, his performances are as good as anyone. "It is a big concern". When asked about Virat's behavior, Shastri mentioned that there was nothing wrong about it.

Track Santa On His Christmas Eve Journey To New England Using NORAD
In a Christmas Eve call, Trump asked a 7-year-old named Coleman whether the child still believes in Santa Claus . The Trumps stayed in D.C. amid the government shutdown instead of going to Florida as previously planned.

Four men detained as police secure cargo ship after 'stowaways threaten crew'
The spokesman said the four migrants were acting aggressively and had threatened the ship's staff using iron bars. The men have been detained under the Immigration Act, according to Essex Police , and no injuries were reported.

Juan Mata: 'It's time for optimism at Man Utd'
Nemanja Matic wants his Manchester United team-mates to accept their share of the blame for the club's failings under Jose Mourinho .

Turkish coordination with US in Syria not limited to military coordination
But the extremists are largely confined to a remote desert enclave hundreds of miles (kilometres) to the southeast of Manbij. The town of Manbij has been one area of friction between the U.S. and Turkey, which has vowed to clear the area of the YPG.

Gavaskar tells Kohli & Shastri to win in Australia or face music
As far as we're concerned, he's an absolute gentleman". "If you see, the rough didn't have much assistance". This time it has come to injury management. "For this reason, he was not considered for selection.

Mnuchin denies Trump is seeking to oust Fed chief
Munchin insisted Trump never even suggested firing Powell, in a series of tweets supposedly quoting the president on Saturday. Trump has regularly violated that decades-old norm, sending tweets and giving interviews critical of Fed policy tightening.

US Supreme Court Rules Trump's New Asylum Ban Order Cannot Take Effect
The San Francisco-based 9th US Circuit Court of Appeals then refused the administration's request to lift Tigar's order. Four justices dissented, indicating they would have allowed the asylum restrictions to take effect.

MLB, Cuban Baseball Propose Deal For Players
An MLB team will have to pay a release fee to the organization for the player, the statement says. He can play in Cuba during the offseason only with his Major League Baseball club's consent.