Stock market turns south, as financial slump takes toll on Wall Street

U.S. stock-index gauges on Wednesday traded lower, albeit off the worst levels, on the last day of the month, as a slump in bank shares and a lackluster reading of economic reports weighed on investor sentiment.

Wall also was awaiting the Federal Reserve’s anecdotal report on economic conditions at its districts, known as the Beige Book.

The S&P 500 index fell 5 points, or 0.2%, at 2,407, with the financial sector, down 1.2%, representing the worst performer among the broad-market gauge’s 11 sectors, and energy down 0.7%.

The Dow Jones Industrial Average was trading 40 points, or 0.2%, lower at 20,990, with 2% or more declines in shares of J.P. Morgan Chase & Co. and Goldman Sachs Group Inc. dragging blue chips firmly into the red. Combined, the pair of bank stocks were contributing the lion’s share of the Dow’s loss.

Meanwhile, the Nasdaq Composite Index after briefly touching an intraday high of 6,221.99, was trading 15 points, or 0.3%, lower at 6,189.

All of the equity indexes were off their worst levels of the session in late-morning trade.

Source: Marketwatch

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Sumber : bpfnews.com

U.S. Stocks Open Modestly Higher, Nasdaq Hits Record

U.S. stocks edged higher at the open on Wednesday, putting the S&P 500 near record territory as a number of key technology stocks continued to lift the broader market.

The Dow Jones Industrial Average rose 16 points, or 0.1%, to 21,041. The S&P 500 gained 2 points, or 0.1%, to 2,415, putting it within points of an all-time high. The Nasdaq Composite Index hit a new intraday record in early trading, rising 18 points to 6,221, a gain of 0.3%.

The tech sector has been the strongest performer of 2017, lifting the overall market. On Wednesday, Apple Inc. rose 0.2% while Facebook Inc. added 0.4%. On the downside, energy companies maintained their recent weakness as crude oil slumped 2.7%. Exxon Mobil Corp. lost 0.3% while Chevron Corp. fell 0.6%. For the month of May, the Dow is up 0.4% and the S&P is up 1.2%. The Nasdaq is up 2.6% in its seventh straight monthly gain, its longest such streak since 2013. It is the sixth positive month for both the Dow and the S&P 500 of the past seven.

Source : Market Watch

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Sumber : bpfnews.com

European Stocks Slip as Inflation Falls, U.K. Election Nerves set in

European stock markets mostly headed lower on Wednesday, as investors digested the latest bout of uncertainty surrounding the U.K. election and assessed a sharper-than-expected fall in eurozone inflation.

The Stoxx Europe 600 index edged down 0.1% to 390.24, setting it on track for a fifth straight session of losses. The benchmark on Tuesday fell 0.2% as bank stocks declined on concerns over a potential early election in Italy.

For the month, the Stoxx 600 was still set to log a 0.8% gain.

Source : Market Watch

PT Bestprofit Futures – MARKET
Sumber : bpfnews.com

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