Dow industrials drop 600 points as market losses deepen
10 February, 2018, 08:22
Technology companies accounted for most of the broad gains, outweighing losses in energy stocks, which slumped as US crude prices declined, sending the price of oil below $60 a barrel for the first time this year. Crude slumped 2% on Friday and slipped below $60 a barrel for the first time this year.
The Dow gained 130 points, or 0.5 percent, to 23,990.
The slide in oil prices is also driving down the energy sector which is having a negative influence on the S&P 500 Index. "Prior to the price action over the last ten days, the major USA indices had rallied nearly without interruption since the Brexit vote in June 2016", said David Morrison, senior market strategist at GKFX. The blue chip average suffered its second 1,000-point drop in a week on Thursday. Nasdaq index dropped by 3.9% (275 points), the S&P 500 dropped by 3.8% (101 points), according to Boston Globe.
The Russell 2000 jumped more than 1.3% at the closing bell, while the S&P SmallCap 600 rallied 1.1%.
The 10-year Treasury yield has receded in recent days and is trading around 2.77 percent on Wednesday.
Analysts and traders say the sell-off had begun a major correction to nine years of near uninterrupted gains for Wall Street.
In afternoon trading, the S&P 500 briefly broke below its 200-day moving average, a level seen as technical support, and then cut losses, a day after a plunge that confirmed a correction for the USA market.
Jeffrey Kleintop, Chief Global Investment Strategist at Charles Schwab, said global stocks have fallen from peak to trough by more than 10 per cent in two-third of the years since 1979, yet "most of those times posted a gain for the year". The blue chip Dow Jones Industrial Average is at 24109.57, up 249.11 or +1.04% and the tech-based NASDAQ Composite is 6863.27, up 86.11 or +1.27%. It was up as much as 349 in early trading. Australian shares lost 1.7 per cent and South Korea's KOSPI fell 2.3 per cent.
At 0700 AEDT on Friday, the share price futures index was down 82 points, or 1.41 per cent, at 5,730. "The trigger has been the really fast rise in bond yields", said Evan Brown, director of asset allocation at UBS Asset Management. Average hourly wages grew 2.9 percent from a year ago - the largest increase since 2009.
Also driving rates higher is the projected increase in federal debt as a result of the big passed in December as well as the two-year signed by President Trump on Friday. Tokyo's Nikkei 225 lost 2.3 percent to 21,382.62 and Hong Kong's Hang Seng retreated 3.1 percent to 29,507.63. In total, the Dow has shed more than 2,000 points in the first week of February trading.
The S&P 500 lost $2.49 trillion in market value since January 26 through Thursday, according to S&P Dow Jones Indices. Chipmaker Nvidia (NVDA) added $14.56, or 6.7 percent, to $232.08.
The National Republican Congressional Committee is well aware of this and is already prepping its candidate, Pete Stauber, a St. Nolan, however, hopes his early exit will give Democrats a chance to preen their own capable contender.
Hutchison left coaching shortly thereafter but remains a member of USA Swimming as the owner of a member club based in Seattle. It said both parties denied a romantic or sexual relationship and the investigation was closed without any violation.
ValuEngine cut Patterson-UTI Energy from a "hold" rating to a "sell" rating in a research report on Friday, February 2nd. Schwab Charles Investment Management Inc. boosted its stake in Patterson-UTI Energy by 26.7% during the third quarter.
The camp, strategically located on Srinagar-Jammu-Pathankot highway, is surrounded by dense population. Schools within 500 meters of the camp have been asked to remain closed by district administration.
In one study, researchers found that nearly 20 percent of those with psoriasis suffer from some form of depression. Doctors could be advised to monitor moods in acne patients, helping them get treatment if necessary.
Kim Yo Jong is the first member of the North's ruling dynasty to visit the south since the end of the Korean War in 1953. But privately, officials said, Pence expressed concern to Moon about his more conciliatory tone toward North Korea.
In October 2017, Kim Yo Jong was named as a member to the Workers Party's Politburo, the country's highest political assembly. A Japanese official praised Pence for his strong words and statesmanship but declined to comment on Mr.
She doesn't do it alone though, Ron Stoppable and his naked mole-rat, Rufus, help out, as well as Wade, the computer genius. Kim was allowed to be a teenage girl who was fantastic , but also never stopped being "normal".
Later that day, Bella headed into rehearsals with TRESemme for Jason Wu's New York Fashion Week show at Spring Studios. Perez was arrested around 9:35 p.m. last night and was charged with aggravated harassment and stalking.
In 1987, the Dow plunged 508 points in one day-and sustained a loss of 22.6%, the largest one-day decline in the Dow's history. The suspension of shares in Produce Exchange Trust Company prompted fears of a market bubble in industrial stocks.
Cops: Man spanked stranger's son, 2, in grocery store
James Morris was not bothering a soul Tuesday as he stood in the self-checkout area of a local Kroger with his 2-year-old son. Officers reportedly noticed slurred speech and a strong odor of alcohol coming from him.
US Dow Jones plunges over 1000 points
About 10.5 billion shares changed hands in US exchanges, well above the 8.2 billion daily average over the last 20 sessions. US 10-year yields rose back as high as 2.80 percent after approaching two-week lows around 2.65 percent on Tuesday.
'House of Cards' Star Reg E. Cathey Dead at 59
Though the details surrounding Cathey's death have not been revealed, sources told TMZ he had been battling lung cancer . His other roles included "Oz", " The Fantastic Four ", "Se7en", " Outcast ", and the documentary "The People Speak".
Trump, Kim impersonators booted from Olympics
International Olympic Committee President Thomas Bach then handed the podium to Moon, who declared the Olympics officially open. Thursday (Feb. 8) night's coverage was the first time NBC presented its evening coverage live across all USA time zones.