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Stocks Close Lower on Worries About US Economy
Barchart - Fri Aug 14, 3:25PM CDT
The S&P 500 Index ($SPX) (SPY) on Friday fell by -0.17%, the Dow Jones Industrial Average ($DOWI) (DIA) fell by -0.20%, and the Nasdaq 100 Index ($IUXX) (QQQ) fell by -0.13%. E-mini S&P futures (ESU26) fell -0.27%, and September E-mini Nasdaq futures (NQU26) fell -0.16%.
Stocks ended Friday lower on weak US retail sales and consumer sentiment reports. The weak US economic reports slightly reduced the odds of a September Fed rate hike to 32% from 35% but also sparked worries about a weaker US economy and weaker corporate earnings. The stock market was also concerned that the 10-year T-note yield rose by +5 bp despite the weak US economic reports, as inflation worries continue.
US tech stocks saw carry-over support from an overnight rally of more than +2% in the South Korean Kospi index, with Samsung Electronics and chip-maker SK Hynix rallying by more than +15% this week. However, US chip stocks were weak on Friday on poor momentum and higher T-note yields, with the i... Read more
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Stocks Close Lower on Worries About US Economy Barchart - Fri Aug 14, 3:25PM CDT
The S&P 500 Index ($SPX ) (SPY ) on Friday fell by -0.17%, the Dow Jones Industrial Average ($DOWI ) (DIA ) fell by -0.20%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) fell by -0.13%. E-mini S&P futures...
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