Markets Right Now: Indexes slide as energy, tech stocks sink
09:56, Feb 4, 2018
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With 200,000 jobs added to the United States of America economy last month, more than analysts had forecast, expectations are mounting that the Federal Reserve will push forward with more intest rate hikes.
Investors have cited low interest rates are one reason they've continued to buy stocks, even as prices rose faster than corporate earnings.
The S&P 500 fell 3.8%, while the Nasdaq declined 3.5%.
The S&P 500 fell 59.85 points, or 2.1 percent, to 2,762.13, and the tech-heavy Nasdaq composite index dropped 144.92 points, or 2 percent, to 7,240.95. The company's stock dropped 5.3 percent on the back of the report.
The main U.S. stock index ended the day at 25,520, down 665 points from Thursday's close.
JOBS DATA: U.S. employers added a robust 200,000 jobs in January, slightly above market expectations for a 185,000 increase. This, in turn, may lead the Federal Reserve to move more aggressively in the near term to raise interest rates.
"It means you are going to see an inflation picture continuing to firm and strenghten over the course of 2018, which will drive 10-year Treasury yields higher and cause the Fed to reconsider its gradual pace of tightening", Schulze said.
The Fed also expected USA inflation on a 12-month basis to "move up this year and to stabilize" around the central bank's 2 percent target over the medium term.
Federer into Australian Open quarter-final
But if it was playing on his mind, it didn't stop him running Berdych ragged with some of his best shot-making of the tournament. Second seed Federer beat Czech Tomas Berdych in straight sets, 7-6 (7-1), 6-3, 6-4, in the duo's 10th meeting at a grand slam.
Bond yields shot higher after the government reported another month of strong job gains and wage growth, further stoking fears of inflation.
The market has surged in the "Trump rally" as analysts priced in projected higher earnings from the prospect of corporation-friendly tax cuts, regulatory rollbacks and infrastructure investment under the new administration.
Google-parent Alphabet also reported quarterly results, with earnings per share missing expectations. The stock slid $62.39 to $1,119.20.
Among the stocks in the Dow, Apple fell 4.3 percent Friday, Exxon Mobil lost 5.1 percent, Chevron was down almost 6 percent and Goldman Sachs dropped 4.5 percent. Shares in Exxon shed $4.54 to $84.53. The Standard & Poor's 500 index gave up 49 points, or 1.8 percent, to 2,773.
ENERGY: Oil futures declined.
Oil sank lower as well even though it is still trading at its highest level since 2015 in NY. The German DAX index lost 4.2 percent over the week, and South Korea's Kospi index lost 1.9 percent.
The dollar index, tracking the unit against a basket of major currencies, rose 0.72 per cent, with the euro down 0.64 per cent to $1.2428. Wall Street watchers are anxious that the Federal Reserve under new chairman Jay Powell may overreact and boost rates, bringing the market run to a hard halt and slowing the USA economy.
Kohli (112) soon followed the lead leaving the reigns to former captain MS Dhoni who then finished the match in style easily . According to a Cricket South Africa (CSA) release, the captain for the remaining ODIs will be named on Saturday.
The Redskins had the option of either franchise tagging Cousins again - this time for $34.5m - or committing to a long-term deal. That's plenty for a team that needs only a few pieces and better injury luck to make a playoff run in 2018.
He says parents should be willing to talk to your kids about problems at home and school. "Everyone is just scared. Commonwealth Attorney Mark Blankenship said there is not a clear time table on when the suspect will be charged.
Yes, that's the same year the infamous wardrobe malfunction with him and Janet Jackson took place in front of millions of people . Will that number equal or exceed 2017? "That price tag-$5 million for 30 seconds-is contingent on how many people are watching".
After all, Ray Lewis was being investigated for murder at one point and ended up pleading guilty for obstruction of justice. Moss had nine, including the incredible 2007 season with New England, where he posted an NFL-record 23 scores.
Prithvi Shaw captained India had faced Australia at the start of the tournament and had emerged triumphant by 100 runs. The captain of the Under-19 squad, Prithvi Shaw is considered the next big thing in Indian cricket.
The operating loss on other (Bets ) revenues totaled $916 million, down from $1.09 billion in the year-ago quarter. Adjusted quarterly profit of $6.8 billion, or $9.70 per share, missed estimates of $7 billion, or $10 per share.
Foles labeled Smith as a player who "can turn a locker room around", calling him "one of the most athletic guys" in the NFL . A number of teams, including the Jets , Broncos , Browns, Dolphins, Cardinals, Bills etc. are all potential landing spots.
Pettapiece echoed that sentiment, stating, "As MPP, my top priority will continue to be the people I am privileged to represent". Brown said he has instructed his lawyers to ensure that the allegations are addressed in court.
It is also suggested that the Rs1.5 lakh ceiling for deduction for principal repayment of housing loan in Section 80C be raised. Otherwise, as it stands now, the deduction is insignificant, especially when clubbed with other tax-saving instruments.
Ajinkya Rahane, who was not included in the playing XI in the last two tests, returned to the side along with Bhuvneshwar Kumar . Prior to that occurring, South Africa were set a target of 241 to win, but lost opener Aiden Markram early on in their chase.
Mou: United must be better next season
We were first for a few weeks and then we were always second, I don't remember us being fourth, fifth or sixth. You can not deny and everyone knows here in England how complicated it is playing at Burnley .
Huddersfield 0-3 Liverpool: Reds stars rated and slated
Huddersfield have now lost four league games in a row and are being dragged ever further into the mire of a relegation battle. He added that the win was exactly the reaction he was hoping for from his team, after losing two consecutive games.
WWE Royal Rumble 2018
Who will ever forget AJ Styles debuting, John Cena returning from injury or Kharma making an appearance. The fact that Alexander isn't in this match is another reason to suspect that he's the open challenger.
'Wonder Woman' falters at Oscar nominations
The Academy of Motion Picture Arts and Sciences nominated women across most categories , matching a record set in 2016. For starters, many fans were shocked to see that Gal Gadot and her portrayal in Wonder Woman was nowhere to be found.
Swedish player takes 1-shot lead
Tiger Woods was everywhere but the fairway and putted for birdie on only half of his holes. His play from tee to green may have been "gross" (Woods' word ), but it was also tidy.
NAFTA: Litmus Test on a Deal Will Come Over Next Few Days
Talks to renegotiate NAFTA - in effect since 1994 between the U.S., Mexico and Canada - are now in their sixth round. Union leaders hope the complaint will help push the USA toward stronger labor laws as NAFTA negotiations continue.