U.S. stocks could fall further in early trading

Date:

Following the sharp setback seen in the previous session, stocks could fall further in early Tuesday trading. Major index futures are currently market, The Dow futures are down 104 points.

Concerns about the outlook for monetary policy could continue to weigh on the market as a two-day meeting of the Federal Reserve Board is underway.

With inflation remaining rising, the Fed is widely expected to accelerate its schedule to reduce bond purchases.

Many traders expect the Fed to start raising interest rates shortly after it suspends its asset purchase program.

In November, the Ministry of Labor released a report showing that producer prices rose more than expected, as it could add to concerns about monetary policy.

According to the report, the producer price index for final demand rose 0.6% in October and then rose 0.8% in November. Economists expected producer prices to rise by 0.5%.

Due to stronger monthly price increases than expected, the annual rate of increase in producer prices accelerated from 8.8% in October to 9.6% in November.

According to the Ministry of Labor, the year-on-year surge reflects the greatest progress since the 12-month data was first calculated in November 2010.

Stock prices fell sharply during Monday’s trading, giving background following the backlash seen on Wall Street last week. All major averages showed significant downside moves, with tech-heavy Nasdaq leading the decline.

The Nasdaq and S & P 500 fell to new lows in the closing session. The Dow fell 320.04 points (0.9%) to 35,650.95, the Nasdaq fell 217.32 points (1.4%) to 15,413.28, and the S & P 500 fell 43.05 points (0.9%) to 4,668.97.

In overseas trading, the stock market in the Asia-Pacific region fell sharply on Tuesday. Japan’s Nikkei 225 index fell 0.7%, while Hong Kong’s Hang Seng index fell 1.3%.

Meanwhile, major European markets are performing differently on the day. The UK’s FTSE 100 index is up 0.3%, while the French CAC 40 index is down 0.3% and the German DAX index is down 0.4%.

In commodity trading, crude oil futures fell $ 0.38 to $ 71.29 a barrel on Monday, followed by a fall of $ 0.89 to $ 70.40 a barrel. Meanwhile, gold futures have fallen from $ 14 to $ 1,774.30 per ounce after rising from $ 3.50 to $ 1,788.30 per ounce in the previous session.

On the currency side, the US dollar is trading at 113.52 yen, compared to 113.54 yen acquired at the end of the New York stock exchange on Monday. Against the euro, the dollar is valued at $ 1.1309 compared to yesterday’s $ 1.1284.

Contact for comments and feedback: editorial@rttnews.com

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U.S. stocks could fall further in early trading

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The post U.S. stocks could fall further in early trading appeared first on Eminetra.

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