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Home / Business / Stocks Fall, Bonds Increase in Growth and Trade Woes: Markets Wrap

Stocks Fall, Bonds Increase in Growth and Trade Woes: Markets Wrap



(Bloomberg) – American stocks slumped and Treasuries increased, signaling Tuesday's relief rally will be short-lived, as fresh concerns for the health of the global economy rattled investors still on the verge of the war.

The S & P 500 index fell for the sixth time in eight sessions after US retail and factory numbers missed estimates, and increased concerns about growth after statistics showed China's economy lost steam. Stocks were arranged for a minor repayment from Tuesday's trading sales, but progress on a deal remained elusive. Tensions also mounted in the Middle East over relations between the US and Iran, adding to the demand for sanctuary.

Treasuries increased and sent the two-year return to the lowest level since February 2018, while the 10-year rate fell to 2.36%. Oil retreated and gold rose, while the Japanese yen and Swiss franc faced the dollar.

"Trade is by far the most dominant story right now, but sales should not go unnoticed until consumer confidence reads later this week," said Mike Loewengart, vice president of investment strategy at E * TRADE Financial. "Many see retail as an important economic bellwether, and so weakness in the sector can give the bears more to sink their teeth into."

The unexpectedly weak US economic data on the back of data pointing to slowing China's growth, investors are raising concerns on Wednesday that the war could weigh on a global economy that's already staggering. Adding these woes is increasing the excitement of the Middle East.

Oil fell as an industrial group signaling a jump in US stocks, easing concerns over a supply breach after a drone attack in Saudi Arabia had highlighted the vulnerability of the country's energy infrastructure.

Here are some notable events that come up this week:

Revenue this week includes Cisco, Nvidia.Bank of Indonesia has an interest rate decision on Thursday. The Australian unemployment rate is out on Thursday.

And here's the main market is moving:

Stocks

The S&P 500 index dropped 0.6% from 9:30 am New York timeThe Stoxx Europe 600 Index went down 0.5%. Germany's DAX index fell by 0.9%. MSCI Emerging Market Index fell

Currencies

Bloomberg Dollar Spot Index climbed 0.2%, the highest for almost three weeks. Euro fell 0.2% to $ 1.1184, the weakest for nearly two weeks. The British pound fell 0.4% to $ 1.2860, the weakest for nearly three months. The Japanese yen was 0.3% to 109.27 per dollar, the strongest in almost 15 weeks.

Bonds

The return on 10-year government bonds fell four basis points to 2.37%, the lowest in seven weeks. Germany's 10-year return doubled six base points to -0.13%, the lowest for more than two years. Britain's 10-year return fell seven basis points to 1.034%, the lowest in six weeks.

Commodities

West Texas Intermediate crude dipped 1% to $ 61.11 per barrel.Gold advanced 0.3% to $ 1,300.10 an ounce.

– With help from Charlotte Ryan and Vildana Hajric.

To contact journalists on this story: Todd White in Madrid at twhite2@bloomberg.net; Randall Jensen in New York at rjensen18@bloomberg.net

To contact the editors responsible for this story: Jeremy Herron at jherron8@bloomberg.net, Yakob Peterseil

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