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Market Overview

US stock market continued retreating on Wednesday led by bank shares after dovish Fed decision. The S&P 500 slid 0.3% to 2824.23. The Dow Jones industrial average fell 0.6% to 25745.67. Nasdaq composite index however added 0.1% to 7728.97. The dollar weakening accelerated as Federal Reserve cut the projection of the number of interest rate hikes expected this year to zero from the two forecast in December. 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 0.6% to 95.94 and is lower currently. Futures on US stock indexes point to lower openings today.

US stock market ended marginally lower on Tuesday as investors risk appetite was undermined by reports China resists to US demands in trade negotiations. The S&P 500 slipped 0.01% to 2832.57. Dow Jones slid 0.1% to 25887.38. The Nasdaq however rose 0.1% to 7723.95. The dollar weakening accelerated ahead of Fed interest rate decision today as factory orders maintained steady growth rate of 0.1% in January when an increase 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, fell 0.2% to 96.35 but is higher currently. Futures on US stock indexes point to mixed openings today.

US stock market extended gains on Monday. The S&P 500 advanced 0.4% to 2832.94. Dow Jones industrial gained 0.3% to 25914.10 despite continued Boeing drag on the blue chip index. The Nasdaq composite added 0.3% to 7714.48. The dollar weakening endured ahead of Federal Reserve two-day meeting starting today. Market participants expect the central bank to keep dovish stance and lower rate hike projections to just one in 2019 and one more in 2020. 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, slipped 0.02% to 96.50 and is lower currently. Futures on US stock indexes point to higher openings today.

US stock market resumed advancing on Friday. S&P 500 rose 0.5% to 2822.48, closing 2.9% higher for the week. Dow Jones industrial gained 0.5% to 25848.87. The Nasdaq added 0.8% to 7688.53. The dollar strengthening reversed on a weaker than expected reading of just 0.1% rise in US industrial production in February. 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, lost 0.2% to 96.521 and is lower currently. Futures on US stock indexes point to higher openings today.

US stock market paused on Thursday after reports suggesting US-China trade deal will not be finalized this month following news a meeting between President Donald Trump and Chinese President Xi Jinping will be delayed until at least April. The S&P 500 slipped 0.1% to 2808.48. The Dow Jones industrial average however added 0.03% to 25709.94. Nasdaq composite index fell 0.2% to 7630.91. The dollar strengthening resumed as the price of imported goods rose by 0.6% on month in February, the largest increase in nine months while initial jobless claims rose by 6000 last week: 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 0.3% to 96.715 but is lower currently. Futures on US stock indexes point to higher openings today.

US stock market closed higher on Wednesday supported by strong data. The S&P 500 rose 0.7% to 2810.92. The Dow Jones industrial average added 0.6% to 25702.89. Nasdaq composite index gained 0.7% to 7643.41. The dollar weakening accelerated as wholesale inflation declined to 2.3% over year in February from 2.5% in January, while durable goods orders were stronger than 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, fell 0.6% to 96.432 but is higher currently. Futures on US stock indexes point to higher openings today.

US stock market added to previous session gains on Tuesday led by the health care and utilities shares. The S&P 500 gained 0.3% to 2791.52. Dow Jones however slid 0.4% to 25554.66 dragged by continued slump of Boeing as more airlines grounded their fleets of 737 Max 8 planes after weekend fatal crash in Addis Ababa, Ethiopia’s capital. The Nasdaq rose 0.4% to 7591.03. The dollar weakening slowed after data showed inflation rose 0.2% on month in February following three months of no change. 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, slipped 0.03% to 96.97 but is higher currently. Futures on US stock indexes point to mixed openings today.

US stock market rebounded on Monday led by technology shares. The S&P 500 advanced 1.5% to 2783.30. Dow Jones industrial gained 0.8% to 25650.88. The Nasdaq composite jumped 2% to 7558.06. The dollar weakening accelerated despite data showing above expected 0.2% rise over month in retail sales in January, after downwardly revised 1.6% drop in December: 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 0.4% to 97.00 but is higher currently. Futures on US stock indexes point to higher openings today.

US stock market extended losses fifth session in a row on Friday with weak labor market and China export data undermining market sentiment. S&P 500 slid 0.2% to 2743.07, closing 2.2% lower for the week. Dow Jones industrial slipped 0.1% to 25450.24. The Nasdaq shed 0.2% to 7408.14. The dollar strengthening reversed on a weaker than expected reading of just 20,000 new jobs in February. 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, lost 0.2% to 97.357 but is higher currently. Futures on US stock indexes point to mixed openings today.

US stock market extended losses on Thursday as global growth slowing concerns came to fore again following ECB pledge to keep rates low longer. The S&P 500 lost 0.8% to 2748.93. The Dow Jones industrial average slid 0.8% to 25473.23. Nasdaq composite index fell 1.1% to 7421.46. The dollar strengthening accelerated as initial jobless claims fell more than forecast last week: 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 0.8% to 97.61 but is lower currently. Futures on US stock indexes point to lower openings today.

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