|Day's Range||7,669.42 - 7,817.83|
|52 Week Range||6,190.17 - 8,133.30|
Equities extended declines after new reports showed that the manufacturing industries in the U.S. and Germany manufacturing industry slid last month, fueling concerns of a global slowdown.
Stocks are in retreat Friday, as a key measure of the U.S. yield curve inverted and a downbeat round of European data underlined worries about global growth prospects.
The spread between three-month Treasury bills and 10-year note yields inverted for the first time since 2007 on Friday and stocks around the world fell after soft U.S. and European data fuelled fears of a global economic slowdown following this week's dovish turn by the U.S. Federal Reserve. The inverted yield curve is widely understood to be a leading indicator of recession. This was after German 10-year bond yields dived below zero for the first time since October 2016 after German data showed manufacturing contracted in March for a third straight month in Europe's biggest economy.
U.S. manufacturing sector Flash Purchasing Managers' Index (PMI) came in at 52.5 in March, well below the estimates of 53.6, according to economists polled by Reuters. "Today's economic numbers indicate the strong relationship that China has with Europe. The Federal Reserve on Wednesday abandoned projections for any interest rate hikes this year, as policymakers see a U.S. economy that is rapidly losing momentum.
All of the major equity indices closed higher Thursday with positive internals on both exchanges. Of note on the charts, the DJIA closed marginally above its near-term resistance while the Nasdaq 100 (see above) did so with gusto. Also, the Dow Jones Transports closed back above its 50-day moving average.
Wall Street's main indexes extended losses on Friday after the United States joined the euro zone in reporting weak manufacturing activity last month, fueling fears of a slowing global economy. U.S. manufacturing sector Flash Purchasing Managers' Index (PMI) came in at 52.5 in March, well below the estimates of 53.6, according to economists polled by Reuters. "Today's economic numbers indicate the strong relationship that China has with Europe.
The difference between 10-year and 3-month Treasury yields, a reliable recession indicator, turned negative for the first time since 2006.
The stock market was squarely lower with the Dow Jones industrials falling more than 100 points. Boeing and Nike stocks were weak in morning trade.
U.S. stock indexes opened lower on Friday as signs of weakness in Europe's economy underscored worries about sluggish expansion outside of America. The Dow Jones Industrial Average fell 120 points, or 0.5%, at 25,847, pushing its weekly gain into negative territory, according to FactSet data. Meanwhile, the S&P 500 index retreated 0.4% to 2,844, and the Nasdaq Composite Index declined 0.4% to reach 7,807. Both the S&P 500 and the Nasdaq were holding on to solid weekly gains, with the broad-market S&P up 0.8%, while the tech-heavy index is up 1.5% so far this week. Setting the tone for early action on Wall Street was a report on purchasing managers, which pointed to a further slowdown in activity during March after tentative signs of a rebound earlier in the year. The news comes after the Federal Reserve on Wednesday downgraded its economic outlook for the year in the U.S. to 2.1% from 2.3% and signaled that there would be no further increases to interest rates in 2019, citing weakness abroad. Investors also are watching developments surrounding Brexit, with European Union leaders allowing U.K. Prime Minister Theresa May to postpone Britain's deadline for an exit from Europe's trade bloc beyond March 29, but warned that the country could still crash out.
U.S. stocks opened lower on Friday after downbeat data from Europe fueled fears of a slowing global economy following an abrupt dovish turn by the Federal Reserve earlier this week. The Dow Jones Industrial ...
STOCKSTOWATCHTODAY BLOG Friday Funk. Global growth woes are weighing on stocks. Futures on the Dow Jones Industrial Average were 0.7% lower, S&P 500 futures fell 0.6%, and the Nasdaq Composite had dropped 0.
SINGAPORE (AP) — Stocks fell sharply in Europe on Friday after surveys showed manufacturing in the region slowed in March and amid news that the European Union offered only a brief extension to the Brexit deadline. U.S. markets also appeared headed for a lower open.
German 10-year bond yields dived below zero while European shares and the euro fell on Friday after grim data from the continent fuelled fears of a global economic slowdown following this week's dovish turn by the U.S. Federal Reserve. Yields on Germany's 10-year government bond turned negative for the first time since October 2016 after data showed manufacturing contracted for a third straight month in March, compounding worries that trade disputes are exacerbating a slowdown in Europe's biggest economy. Equities in Paris tumbled 0.8 percent while London's FTSE dropped 1 percent.
Stock futures dipped after Apple led a big stock market rally Thursday. Nike fell below a buy point early after earnings beat but sales were iffy.
*Pound under pressure, EU demands UK decision by Apr 12. TOKYO, March 22- Asian shares held near 6-1/ 2- month highs on Friday after upbeat U.S. data and optimism in the tech sector helped calm some of the jitters sparked by the Federal Reserve's cautious outlook on the world's biggest economy. MSCI's broadest index of Asia-Pacific shares outside Japan was nearly...
In overnight market action stateside, stocks advanced as investors continued to grapple with the potential implications of a recent U.S. Federal Reserve policy statement. Major Asian stock markets closed little changed on Friday following a roller-coaster session that sent shares oscillating between positive and negative territory as investors grappled with the consequences of a more dovish U.S. Federal Reserve . The broad MSCI Asia ex-Japan index was 0.22 percent higher at 531.26, as of 4:03 p.m. HK/SIN.