Monthly Archives: September 2016

US stocks fall following ECB rates decision

THURSDAY – U.S. stocks traded lower Thursday as investors digested the European Central Bank’s latest monetary policy decision and remarks made by its president, Mario Draghi.

The Dow Jones industrial average traded about 60 points lower, with Apple contributing the most losses.

The ECB kept interest rates unchanged and did not announce an extension of its quantitative easing program. Draghi said in a news conference the central bank did not discuss an extension of said program, but added the program will run until the end of next March or beyond, if necessary.

U.S. stock futures traded mostly flat after the ECB announced its decision, before holding lower.

Investors have been closely eyeing each data set, looking for clues about whether the Fed will raise interest rates in September. Market expectations for a rate hike in September were 18 percent, according to the CME Group’s FedWatch tool.

Coming Up:

Thursday

3:00 p.m. Consumer credit

Friday

7:45 a.m. Boston Fed President Eric Rosengren
10:00 a.m. Wholesale

FacebookTwitterGoogle+TumblrStumbleUponShare

A Few Tidbits To Start Your Tuesday

Gold gains as dollar dips amid Fed interest-rate uncertainty.  https://t.co/0r6MunEIFK

What to expect from the new Apple iPhone   https://t.co/KD6xDvOtgX

BA flyers are being delayed due to an IT glitch. Why system crashes are so hard to eliminate.  https://t.co/LPLyzqLVfk

What BRExit? Economists raise UK GDP forecasts.   https://t.co/fV5b0koW5A

 

Wall Street To Open Slightly Higher

TUESDAY – U.S. stock index futures pointed to a slightly higher open on Tuesday, as investors remained watchful over the recovery in U.S. crude, ahead of important economic data.

For the U.S.’ first trading day of the week after Labor Day, oil is expected to keep investors abuzz after leading oil producers Russia and Saudi Arabia agreed on Monday to cooperate on stabilizing the energy market.

On the data front, the final Markit services PMI is due out at 9.45 a.m. ET, followed by the ISM non-manufacturing data, set to come out at 10 a.m. ET.

The data will be of key importance for the U.S., as investors look for indications as to how well the U.S. economy is performing. The data come just days after a disappointing jobs figure for the U.S. In August, nonfarm payrolls increased by 151,000, below what Wall Street economists were expecting of 180,000.

When it comes to earnings, Marvell Technology posted quarterly results before the bell Tuesday. Dave & Buster’s Entertainment and Casey’s General Stores are also expected to release their latest earnings.

European stocks traded slightly higher, while Asia-Pacific indexes finished mixed to higher overnight.