【maplewood at chardon photos】Rebound in Oil Sector Fuels U.S. Stock Market Recovery
Themaplewood at chardon photos major U.S. equity indexes finished slightly higher on Wednesday after posting a volatile two-sided trade earlier in the session. The price action suggests investors are in the “buy-the-dip” mode as the indexes recovered from early session weakness to close higher for the third time in less than a week.
In the cash market, the benchmark
S&P 500 Index
settled at 2510.03, up 3.18 or +0.12%. The blue chip
Dow Jones Industrial Average
closed at 23346.24, up 18.78 or +0.08% and the technology-based
NASDAQ Composite
finished at 6665.94, up 30.66 or +0.42%.
It was another roller coaster day in the stock market with the Dow dropping nearly 400 points before closing higher. At their lows of the day, both the S&P 500 and NASDAQ were down more than 1 percent before rebounding enough to post a gain for the session.
Early Selling Fueled by Signs of Global Economic Slowdown
Pressuring the markets early in the session were weaker-than-expected manufacturing activity in China, the Euro Zone and the United States. This was read by investors as signs of a global economic slowdown.
China’s Markit Manufacturing Purchasing Managers’ Index (PMI) for December dipped to 49.7 from 50.2 in November. Euro Zone Manufacturing PMI remained at its lowest level since February 2016, according to IHS Markit. The data also showed confidence about the future hit a fresh six-year low. In the U.S., the IHS Markit Manufacturing PMI slipped to a 15-month low in December.
Hardline Comments Over US-China Trade Relations Generate Additional Selling Pressure
Stocks were also pressured after The New York Times reported that U.S. Trade Representative Robert Lighthizer has told friends and associates he wants to prevent President Donald Trump from accepting “empty promises” from China on the trade front.
The report went on to say that Lighthizer has warned Trump that additional tariffs may be needed to get meaningful concessions from the Chinese.
Oil Sector to the Rescue
A recovery in
crude oil
prices helped trigger the initial rebound in the equity markets. Oil prices were bolstered by signs of tighter supplies from Saudi Arabia that offset record output in the United States and Russia. The S&P 500 Energy Sector rose 2.1 percent on the news, led by gains in Cabot Oil and Hess.
The technology sector was underpinned by shares of Facebook and Amazon which rose 3.5 percent and 2.5 percent, respectively. The Dow was driven higher after bank shares erased earlier losses as Goldman Sachs, Bank of America and J.P. Morgan Chase all climbed more than 1 percent.
Story continues
This
article
was originally posted on FX Empire
More From FXEMPIRE:
Bitcoin Monthly Forecast – January 2019
Natural Gas Price Prediction – Prices Whipsaw But Hold Support
Gold Price Prediction – Gold Hits Resistance as Riskier Assets Rebound
Bitcoin – Holds on to $4,000 Levels as the Bears Make a Move
USD/JPY Fundamental Daily Forecast – Driven Sharply Lower by Technical “Flash Crash”
GBP/USD Price Forecast – British pound breaks down to kick off year
View comments
下一篇:ReSPECT Glioblastoma Clinical Trial Data to be Presented at 2020 Society for Neuro-Oncology Annual Meeting
相关文章:
- JPMorgan Agrees To Acquire Tax-Smart Fintech Startup 55ip
- GBP/USD Price Forecast – British Pound Continues to Struggle at Same Level
- Suzan Craig and Tahi Restore Nature and Make 100 Percent Natural, Genuine Honey
- VW's Skoda braces for second quarter hit after earnings drop
- GREATERGOOD.ORG ANNOUNCES “THANK YOUR TEACHER” CHALLENGE ON THE NEW GIRLS’ VOICES AT HOME PLATFORM
- When Can We Expect A Profit From Asmallworld AG (VTX:ASWN)?
- Crown Castle (CCI) Gains As Market Dips: What You Should Know
- A Sliding Share Price Has Us Looking At New Work SE's (ETR:NWO) P/E Ratio
- Trump threatens to deploy U.S. military to quell riots across the country
- PharmaCielo Shareholder Alert: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In PharmaCielo Ltd. To Contact The Firm
相关推荐:
- Drayage update: The Future Of EDI (With Video)
- Why Is Vornado (VNO) Up 1.7% Since Last Earnings Report?
- Gaming platform Roblox acquires Imbellus assets ahead of IPO
- What Does Success Look Like for a Climate Czar?
- Oprah tour driving Weight Watchers memberships
- SHAREHOLDER ALERT: PTLA GERN AAN: The Law Offices of Vincent Wong Reminds Investors of Important Class Action Deadlines
- Estimating The Intrinsic Value Of The Hain Celestial Group, Inc. (NASDAQ:HAIN)
- Callon Petroleum Climbs 4% As 3Q Sales Surge 74%; Street Sticks To Hold
- 10 Block, a Tech Startup Recognized by SXSW 2019, is Releasing a Universal TV Series and Movie Discovery Platform So You Can See What Your Friends Like
- Otter Tail (OTTR) Tops Q3 Earnings and Revenue Estimates
- PRGX Global's (PRGX) Shares March Higher, Can It Continue?
- Castlebar Capital Corp. Announces Termination of LOI Respecting Qualifying Transaction
- Kratos Defense (KTOS) to Post Q1 Earnings: What's in Store?
- Best & Worst Performing Stocks in Coronavirus Outbreak
- Pan Global Resources Intersects Near Surface Copper Sulphides in New Drill Holes at the Escacena Project, Spain
- Why SkiStar AB (publ)'s (STO:SKIS B) High P/E Ratio Isn't Necessarily A Bad Thing
- Analysts Just Slashed Their China Cinda Asset Management Co., Ltd. (HKG:1359) EPS Numbers
- Number of voting rights as of November 30,2020
- Bank of Montreal: More Upside After a Significant Gain?
- AstraZeneca to Ensure Equal Access to Coronavirus Vaccine