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Market Overview

US stock market retreat continued on Monday ahead of Federal Reserve two-day policy meeting starting today. The S&P 500 lost 2.1% to 2545.94. Dow Jones industrial fell 2.1% to 23592.98. The Nasdaq composite index dropped 2.3% to 6753.73. The dollar turned lower as the Empire State index for December indicated manufacturing activity grew at a sharply slower pace in the New York region compared with November: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, fell 0.3% to 97.12 and is lower currently. Futures on stock indexes point to higher openings today.

US stock market extended losses on Friday amid concerns global growth risks are rising with no indication US and China trade dispute will be resolved soon. S&P 500 lost 1.9% to 2599.95, closing 1.2% lower for the week. Dow Jones industrial average fell 2% to 24100.51. The Nasdaq dropped 2.3% to 6910.66. The dollar strengthening accelerated after data showed both the retail sales and industrial production rose more than expected in November: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, rose 0.4% to 97.44 but is lower currently. Futures on stock indexes indicate lower openings today.

US stock market ended marginally lower on Thursday in a choppy trade. The S&P 500 lost 0.02% to 2650.54. The Dow Jones industrial average however gained 0.3% to 24597.38. Nasdaq composite index slid 0.4% to 7070.33. The dollar strengthening resumed as data showed initial jobless claims fell last week more than initially estimated: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, rose 0.1% to 97.08 and is higher currently. Futures on stock indexes indicate lower openings today.

US stock market ended higher on Wednesday supported by news China is prepared to allow foreign corporations greater access to the Chinese market. The S&P 500 added 0.5% to 2651.07. The Dow Jones industrial average rose 0.6% to 24527.27. Nasdaq composite index rallied 1% to 7098.31. The dollar weakening resumed as consumer price inflation ticked lower to 2.2% over year in November from 2.5% in October: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, fell 0.2% to 97.01 but is higher currently. Futures on stock indexes point to higher openings today.

US stock market slipped on Tuesday despite China’s concession to reduce tariffs on US autos to 15%, down from 40% after the renewal of US-China trade talks. The S&P 500 slipped 0.04% to 2636.78. Dow Jones lost 0.2% to 24370.24. The Nasdaq however gained 0.2% to 7031.83. The dollar strengthening continued as wholesale cost of goods and services rose by 0.1% in November when a decline was expected: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, rose 0.2% to 97.44 but is lower currently. Futures on stock indexes point to higher openings today.

US stock market rebounded on Monday as positive data supported confidence in US economic health. The S&P 500 gained 0.2% to 2637.72. Dow Jones industrial added 0.1% to 24423.26. The Nasdaq composite index rose 0.7% to 7020.52. The dollar turned sharply higher as US job openings rose to 7.08 million in October : the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, jumped 0.6% to 97.20 but is lower currently. Futures on stock indexes indicate higher openings today.

US stock market extended losses on Friday amid US-China trade prospects uncertainty. S&P 500 fell 2.3% to 2633.08, closing 4.8% lower for the week. Dow Jones industrial average lost 2.2% to 24388.95. The Nasdaq dropped 3.1% to 6969.25. The dollar weakening continued as softer than expected November jobs report supported the view Federal Reserve may slow its tightening pace as it takes into account declining inflationary pressures: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, fell 0.2% to 96.573 and is lower currently. Futures on stock indexes point to lower openings today.

US stock market ended lower on Thursday paring earlier sharp losses as traders wondered what would be the impact of a Huawei executive arrest on US-China relations. The S&P 500 lost 0.2% to 2695.95. The Dow Jones industrial average slid 0.3% to 24947.67. Nasdaq composite index however advanced 0.4% to 7188.26. The dollar weakening resumed as data showed factory orders fell 2.1% in November while unit labor costs rose less than initially estimated: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, slid 0.1% to 96.75 but is higher currently. Futures on stock indexes point to lower openings today.

US stock market is poised to reopen sharply lower today after a day-off on Wednesday for the funeral of the former President George H.W. Bush. Futures on US stock indexes plunged after news Canada arrested a top executive of Chinese telecom giant Huawei Technologies at the request of the US. The S&P 500 dropped 3.2% to 2700.06 on Tuesday led by finance and industrial shares. The Dow Jones industrial average tumbled 3.1% to 25027.07. Nasdaq composite index sank 3.8% to 7158.43. The dollar strengthening continued: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, inched up 0.03% to 96.99 and is higher currently.

US stock market slumped on Tuesday wiping prior session gains spurred by US-China trade tensions easing after Trump-Xi meeting over the weekend. The S&P 500 dropped 3.2% to 2700.06 led by finance and industrial shares. Dow Jones industrial average tumbled 3.1% to 25027.07. The Nasdaq sank 3.8% to 7158.43. The dollar strengthening resumed despite the yield on five-year government debt sliding below the yield on three-year debt on Monday, known as inverting of the yield curve. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, inched up 0.02% to 96.956 and is higher currently. US market is closed today for the funeral of the former President George H.W. Bush, who died Friday at 94.

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