After the poor performance has been witnessed in the last trading session, US stocks migrated, for the most part, lower during the period of the day on Tuesday. The tech-heavy NASDAQ exhibited a notably sharp decline, underperforming the other a pair of the main Indexes.
The main indexes wrapped up the trading session within their most detrimental levels of the entire day. The NASDAQ fell 100.53 points, (1.6%) to 6,146.62, the S&P500 dropped 19.69 points (0.8%) to 2,419.38, and The DowJones decreased 98.89 points (0.5%) to 21,310.66.
The particular weakness on Wall Street emerged right after reports that the IMF (International Monetary Fund) reduced its estimate for US economic growth expansion. The IMF lowered its forecast for GDP (Gross Domestic Product) growth in 2017 to 2.1% from 2.3% and also cut its estimate for development growth in 2018 to 2.1% from 2.5%.
In the meantime, the main Euro markets virtually all gone to the downside on the trading day yet again for the reason that Euro’s (EURUSD) rally weighed upon them. Which means the FTSE100 Index dropped by 0.2%, the DAX30 Index and the CAC40 Index slipped by 0.8%, and 0.7% respectively.
The DAX30 is near hitting the critical support of 12500 level, with the firm language from “Super Mario” Draghi. The test of the 12,500 level continues to look most likely within the coming days, notably if the NASDAQ is routinely to lag all the other Global Indexes.
In Asia-Pacific trading, markets throughout the region completed a mixed overall performance in the course of trading on Tuesday. Nikkei225 Index went up by 0.4%. The Shanghai index extended its notable trend and lastly experienced only a small progress yesterday, and meanwhile, HK's Hang Seng Index surrounded by 0.1%.
Equally, cryptocurrencies, as well as Fiat money, were very busy yesterday, as Mario Draghi presented a lift for the Euro currency over the central bank summit in Portugal. He divulged over the ECB (European Central Bank) following the Fed (Federal Reserve) in its tightening up quest after talking optimistically in regards to the expansion growth prospects within the Eurozone.
Yellow metal climbed back above $1250 following Monday’s flash crash. Likewise, even crude oil had a boost from the lack of strength in the US Dollar, with the WTI (West Texas Intermediate) contract sneaking into $44 per barrel price from its lows of around $42 previous week.
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