FYI: U.S. stocks edged lower in late day trading Tuesday, a day after major indexes suffered their worst drop in nearly a month on lingering concerns about global growth and the health of the domestic economy.
Newly published data on Tuesday mollified some fears about the U.S. economy, and U.S. stocks pared earlier losses following the releases. Solid earnings results from Kohl’s and Target also helped boost retailers’ stocks.
The Dow Jones Industrial Average lost 13 points, or 0.5%, in recent trading, after earlier falling as much as 94 points. The S&P 500 and Nasdaq Composite were down 0..11% and 0.02%, respectively.
A bundle of economic data in Europe and Asia also was released Tuesday, with investors in Europe absorbing PMI numbers in Germany, France and Italy that outperformed market expectations, and a new reading of Italy’s gross domestic product that showed the economy contracted by less than expected.
The Stoxx Europe 600 edged down 0.3%.
In Asia, unofficial Chinese services PMI for February hit its lowest level since October, undershooting market expectations. Still, with the Shanghai Composite Index up 0.9% and the more volatile Shenzhen A-Share up 2.3%, Chinese stocks bucked a wave of shallow selling across most other major Asian indexes. Japan’s Nikkei 225 was down 0.4% and the South Korean Kospi fell 0.5%.
Of the eleven S&P 500 Sectors, there were five winners and six losers. The winners were led by Communication Services, and the losers by Energy.
Regards,
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2019-03-05/your-evening-briefingWSJ:
https://www.wsj.com/articles/global-stocks-waver-ahead-of-europe-u-s-economic-data-11551776576Bloomberg:
https://www.bloomberg.com/news/articles/2019-03-04/asia-stocks-set-to-follow-u-s-slide-dollar-gains-markets-wrap?srnd=premiumIBD:
https://www.investors.com/market-trend/stock-market-today/stock-market-dips-sectors-make-bigger-moves/Reuters:
https://www.reuters.com/article/us-usa-stocks/wall-street-ekes-out-gains-after-retail-earnings-trade-in-focus-idUSKCN1QM1G0CNBC:
https://www.cnbc.com/2019/03/05/stock-market-investors-monitor-us-china-trade-developments.htmlU.K.:
https://www.marketwatch.com/story/london-markets-up-as-vodafone-gains-pound-falls-investors-eye-china-growth-targets-2019-03-05/printEurope:
https://www.marketwatch.com/story/european-markets-climb-as-china-sets-new-growth-targets-2019-03-05/printAsia:
https://www.marketwatch.com/story/asian-markets-decline-despite-chinas-bullish-growth-goal-2019-03-04/printBonds:
https://www.cnbc.com/2019/03/05/bond-market-treasury-yields-rise-amid-us-china-trade-developments.htmlCurrencies:
https://www.cnbc.com/2019/03/05/forex-markets-dollar-euro-european-central-bank-in-focus.htmlOil:
https://www.cnbc.com/2019/03/05/oil-markets-fuel-demand-opec-led-supply-cuts-in-focus.htmlGold
https://www.cnbc.com/2019/03/05/gold-markets-dollar-us-treasurys-in-focus.htmlWSJ: Markets At A Glance:
https://markets.wsj.com/usMajor ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitorSPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-trackerSPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectorsCurrent Futures:
https://finviz.com/futures.ashx
