SME Times is powered by   
Search News
Just in:   • South Korea's current account surplus widens amid US tariff pressure  • SEBI bars US firm Jane Street from Indian markets, directs it to deposit Rs 4,843 crore  • India will soon be world’s third-largest economy: PM Modi  • India’s chemical sector can reach $1 trillion by 2040, create 7 lakh jobs by 2030: NITI Aayog  • Intense talks continue to reach interim India-US trade deal ahead of deadline 
Last updated: 15 Mar, 2018  

NYSE.9.Thmb.jpg US stocks retreat further amid downbeat data

NYSE.9.jpg
   Top Stories
» SEBI bars US firm Jane Street from Indian markets, directs it to deposit Rs 4,843 crore
» Intense talks continue to reach interim India-US trade deal ahead of deadline
» India poised to become 3rd-largest economy by 2030, overtaking Germany: Hardeep Puri
» India's industrial production registers 1.2 per cent growth in May
» Govt committed to building safe and smart energy future: Minister
IANS | 15 Mar, 2018
US stocks extended losses on Wednesday as investors digested a batch of generally downbeat economic reports.

The Dow Jones Industrial Average decreased 248.91 points, or 1.00 per cent, to 24,758.12. The S&P 500 lost 15.83 points, or 0.57 per cent, to 2,749.48, Xinhua news agency reported.

The Nasdaq Composite Index was down 14.2 points, or 0.19 per cent, to 7,496.81.

Advance estimates of US retail and food services sales for February 2018 came in at $492 billion, a decrease of 0.1 per cent from the previous month, missing market consensus of a 0.4-per cent gain, the Commerce Department said on Wednesday.

"Retail sales continue to disappoint, especially the biggest ticket auto and furniture components. GDP estimates will be revised down again. With consumption now tracking 1.8 per cent, look for the Atlanta Fed to revise from 2.5 per cent to 2.2 per cent," said Chris Low, chief economist at FTN Financial, in a note.

In a separate report, the department said that manufacturers' and trade inventories were estimated at $1,917 billion in January, up 0.6 per cent from the December reading.

Meanwhile, the Producer Price Index for final demand advanced 0.2 per cent in February, seasonally adjusted, in line with market estimates, the US Labor Department reported.

On an unadjusted basis, the final demand index increased 2.8 per cent for the 12 months ended in February.

Investors also kept a close eye on the White House, after President Donald Trump fired Secretary of State Rex Tillerson and replaced him by Central Intelligence Agency Director Mike Pompeo.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
84.35
82.60
UK Pound
106.35
102.90
Euro
92.50
89.35
Japanese Yen 55.05 53.40
As on 12 Oct, 2024
  Daily Poll
Do you think Indian businesses will be negatively affected by Trump's America First Policy?
 Yes
 No
 Can't Say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter