Worst weekly performance in two years

05 February, 2018, 06:28 | Author: Franklin Nunez
  • Traders work on the floor of the NYSE in New York

The Dow, the S&P 500 and the Nasdaq composite are on track to post their biggest weekly losses in two years, snapping four-week winning streaks spurred by strong corporate earnings and signs of an improving global economy.

The higher wage growth and potentially higher inflation "might then lead the Federal Reserve to raise their interest rates more rapidly than the market is comfortable with", he told NPR's John Ydstie.

USA hiring picked up in January and wages rose at the fastest annual pace since the recession ended, as the economys steady move toward full employment extended into 2018.

MSCI's all-country world index of equity performance in 47 countries fell 1.07 pe rcent while its gauge of emerging market stocks lost 1.54 per cent.

The selloff in USA assets picked up steam Friday as strong jobs data increased the likelihood the Federal Reserve will lift rates next month. And with the robust jobs report Friday showing the fastest wage growth in years, some think the pace of rate increases could quicken.

Fiji, NZ, Kenya and South Africa top pools at NZ Sevens
Mr Dunbar said whispers on "the streets" suggested Fiji was keen to replace New Zealand as hosts of the global tournament. Fiji were crowned the champions after coming from behind to beat series leaders South Africa 24-17 in the Cup final.

Analysts said interest rates were the top story throughout the week. In fact a pullback was long overdue say many.

Traders and financial professionals work on the floor of the New York Stock Exchange ahead of the opening bell, February 2.

The Nasdaq is up 337.56 points, or 4.9 percent. The Dow Jones Small-Cap Value TSM Index closed at 10,123.09 for a loss of -201.26 points or -1.95%. As well as energy shares dropping more than three per cent. Daimler Benz (as we reported yesterday) disappointed the market with a warning that higher-than-expected tech investments would suppress earnings growth during 2018, and the DAX followed.

“People are finally starting to reprice reflation, its about time, ” Jeanne Asseraf-Bitton, head of global cross-asset research at Lyxor Asset Management, said by phone.

Others have said US stocks were rising mostly on the economic growth that's been seen worldwide in the last two years, which also had sent foreign stocks higher.

United States investigating possible sarin gas attacks in Syria: Defense Secretary Jim Mattis
He added "they'd be ill-advised to go back to violating the chemical convention". U.S. administration had alleged that Assad regime had used the banned weapon.

The main trigger was growing concern about rising interest rates and inflation, and their impact on stocks going forward, as the yield on the 10-year Treasury note reached its highest peak in four years, analysts said.

Alphabet fell 5.0 per cent after the Google parent's fourth-quarter profit came in below consensus on increased spending. Bottom line: "this is a healthy correction".

This has been a volatile week for US stocks.

Oil futures declined. Benchmark U.S. crude slid 35 cents, or 0.5 per cent, to settle at $65.45 a barrel on the New York Mercantile Exchange.

The Dow Jones Industrial sank 2.5 per cent, 665 points, to 25,520.96, its worst drop in percentage terms since June 2016. The unemployment rate stood at 4.1 percent, unchanged from December.

Office 2019 will be Windows 10 only
This update covers Windows 7 (SP1), Windows 8.1, and all versions of Windows 10, for client and server. Office 2019 will get the usual period of standard support, but just two years of extended support.

S&P 500 measures the performance of 500 widely held common stocks of large-cap USA companies.

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