ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • Market ends with marginal cuts this week; FMCG gains, Consumer Durables decline—What should investors do on Monday?
  • Investors with short term view must book profits now; import duty hike, rupee weakness may arrest price correction, temporarily
  • Virtual Digital Assets: VDAs to attract 1% TDS from today; know what CBDT says about new norms
  • Maruti Suzuki, Ashok Leyland: What makes brokerages bullish on these auto stocks?
  • Monsoon session of Parliament to begin on July 18; to end on August 12
Read in App
Business News » World News

Global Markets: Stocks seesaw, dollar off; global, U.S. worries weigh

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App

Stocks oscillated between positive and negative territory on Wednesday as worries over U.S. politics, global economic growth and trade tensions offset a boost from quarterly earnings reports.

The U.S. dollar and oil prices also declined.

U.S. Treasury yields climbed but analysts expect the $15.6 trillion market to be confined within a tight trading range due to a dearth of incentives from fresh economic data amid the longest-ever U.S. government shutdown.

The U.S. dollar failed to maintain small gains from earlier in the session as uncertainties kept investors on the sidelines and the yen fell after the Bank of Japan kept its stimulus program in place.

"The trade conflicts and tensions, the (U.S. government) shutdown and certainly more chatter about global growth in 2019, those are the factors that need to be hashed out before we get a clear direction," said Minh Trang, senior currency trader at Silicon Valley Bank in Santa Clara, California.

After falling more than 1 percent a day ago, the S&P 500 zig-zagged, while Nasdaq was in the red.

Strong quarterly reports from Procter & Gamble
, Comcast Corp and International Business Machines helped the Dow show gains for much of the day.

But U.S. political uncertainty weighed heavily on investors.

White House economic adviser Kevin Hassett said in a CNN interview the United States could see zero growth in the first three months if the partial government shutdown is extended for the whole quarter.

"What we`re seeing here is a very indecisive market and a market that`s very sensitive to headline news on trade and the shutdown," Peter Cardillo, chief market economist at Spartan Capital Securities in New York referring to Hassett`s comment.

And according to Cardillo, it didn`t help investor mood that a public argument had erupted between U.S. President Donald Trump and U.S. House of Representatives Speaker Nancy Pelosi over whether Trump can deliver the annual State of the Union address in the House chamber during the shutdown.

"The longer the bickering goes on the longer the shutdown goes on and everyone gets affected if the economy slows," he said.

The Dow Jones Industrial Average <.dji> rose 156.97 points, or 0.64 percent, to 24,561.45, the S&P 500 <.spx> gained 3.4 points, or 0.13 percent, to 2,636.3 and the Nasdaq Composite <.ixic> dropped 4.95 points, or 0.07 percent, to 7,015.40.

MSCI`s gauge of stocks across the globe <.miwd00000pus> was last up 0.08 percent, while the pan-European STOXX 600 index <.stoxx> lost 0.06 percent.

Investors also kept a close eye on China on hopes more economic stimulus measures would ease worries over slow progress in trade talks between Washington and Beijing.

Trump said he would not soften his position that Beijing must make real structural reforms, including how it handles intellectual property, to reach a trade deal, advisers said.

The dollar index <.dxy>, which tracks the greenback versus the euro, yen, sterling and three other currencies, was down 0.18 percent at 96.129. The index has risen nearly 1 percent over the last two weeks.

The greenback was up 0.22 percent against the yen after the Bank of Japan on Wednesday kept its stimulus program in place.

Benchmark 10-year notes last fell 6/32 in price to yield 2.7516 percent, from 2.732 percent late on Tuesday.

Oil prices sank, following U.S. stocks down, on concerns about global economic weakness, forecasts for record U.S. shale production and lower U.S. gasoline prices. [O/R]

U.S. crude settled down 0.74 percent or 39 cents at $52.62 per barrel. Brent crude futures settled at $61.14 per barrel, down 36 cents, or 0.59 percent.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
Updated: Thu, Jan 24, 2019
02:20 am
Reuters
RELATED NEWS
Crisil cuts FY23 GDP growth estimate to 7.3% Crisil cuts FY23 GDP growth estimate to 7.3%
US stocks see worst first half drop in over 50 years US stocks see worst first half drop in over 50 years
Rupee hits record low of 79.11 against US dollar in early trade Rupee hits record low of 79.11 against US dollar in early trade
Retail inflation for industrial workers rises to 6.97% in May Retail inflation for industrial workers rises to 6.97% in May
GST Council Meeting: Full details of goods and services, where rates hiked or slashed GST Council Meeting: Full details of goods and services, where rates hiked or slashed

LATEST NEWS

Gold Price Today: Investors with short term view must book profits now; import duty hike, rupee weakness may arrest price correction, temporarily

Why is the rupee falling? Zee Business reveals reasons

Gold Price Today: Yellow metal surges by over Rs 1000 as excise duty hiked to 12.5% - check gold rate in your city

Ahmedabad most affordable housing market among top 8 cities, says report

Food labelling rules for online food delivery platforms like Zomato, Swiggy changed from today; compliance failure to invite action

Stock Market Outlook: Our dependence on US market limited now, next 10-15 years belong to India, says Anil Singhvi | Here's why

EXCLUSIVE: Start investing in large-cap stocks, Invest in IT, Auto, Capital Goods, and Private Bank stocks says the market expert

Rupee VS Dollar: Rupee gains 12 paise to close at 78.94 against US dollar

Crisil cuts FY23 GDP growth estimate to 7.3%

Dalal Street Corner: Market ends with marginal cuts this week; FMCG gains, Consumer Durables decline—What should investors do on Monday?

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV