Arab Today, arab today us stocks pare losses on portugal bank concerns
Last Updated : GMT 14:19:06
Arab Today, arab today
Arab Today, arab today

US stocks pare losses on Portugal bank concerns

Arab Today, arab today

Arab Today, arab today US stocks pare losses on Portugal bank concerns

US stocks ended lower
New York - XINHUA

U.S. stocks ended lower Thursday after paring steep losses earlier in the day, as renewed worries over one of the top Portugal banks spooked investors.
The Dow Jones Industrial Average lost 70.54 points, or 0.42 percent, to 16,915.07. The S&P 500 fell 8.15 points, or 0.41 percent, to 1,964.68. The Nasdaq Composite Index dropped 22.83 points, or 0.52 percent, to 4,396.20.
The dip came after major stock indices in Europe closed down sharply Thursday as investors jittered over Banco Espirito Santo, a leading Portuguese lender, which delayed payments on short-term debt.
The bank worries offered an excuse for investors to take money off the table when major U.S. equity indices neared record highs.
However, the market recovered part of earlier losses in later trading session, as investors were reassured by a pair of positive U.S. economic data which showed that the world's largest economy remained on track.
In the week ending July 5, the advance figure for seasonally adjusted initial claims was 304,000, a more-than-expected decrease of 11,000 from the previous week, the U.S. Labor Department said Thursday. The four-week moving average, a smoother gauge, was 311, 500, down 3,500 from the prior week.
Meanwhile, U.S. wholesale inventories, a key component of gross domestic product (GDP) changes, rose 0.5 percent in May from April, slightly lower than market consensus, but still signaling a pickup in momentum for the U.S. economy in the second quarter of this year.
The U.S. GDP contracted 2.9 percent unexpectedly in the first quarter with abnormally cold weather to blame in a large part.
Investors were also paying close attention to the new earnings season from which investors would garner any clues about how U.S. companies had been faring in the second quarter.
According to Thomson Reuters I/B/E/S, so far roughly 5 percent of the S&P 500 companies, or 23 companies, have reported results in the second quarter, of which 65.2 percent beat analyst expectations on earnings side while 69.6 percent surpassed market consensus on revenues side.
On the previous trading day, Wall Street added earlier gains, recovering from a two-day drop, as the Federal Reserve's minutes of its latest policy meeting gave no surprise to the market.
The CBOE Volatility Index, often referred to as Wall Street's fear gauge, soared 8.07 percent to end at 12.59 on Thursday.
In other markets, crude prices Thursday bottomed out from recent low levels as some investors took profits from a long losing streak. Light, sweet crude for August delivery climbed 64 cents to settle at 102.93 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for August delivery increased 39 cents to close at 108.67 dollars a barrel.
Gold futures on the COMEX division of the New York Mercantile Exchange continued to move up Thursday as investors fled to safe- haven gold amid concerns over Portugal banking sector, with the most active gold contract for August delivery up 14.9 dollars, or 1.13 percent, to settle at 1,339.2 dollars per ounce.
The U.S. dollar recovered against most major currencies Thursday and snapped a three-day drop versus the euro after worries over the Portuguese bank spread in the euro zone.
In late New York trading, the euro fell to 1.3603 dollars from 1.3645 dollars of the previous session, and the British pound decreased to 1.7143 dollars from 1.7156 dollars.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us stocks pare losses on portugal bank concerns Arab Today, arab today us stocks pare losses on portugal bank concerns

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us stocks pare losses on portugal bank concerns Arab Today, arab today us stocks pare losses on portugal bank concerns

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Italy regions back 'big bang' autonomy

GMT 07:10 2017 Monday ,23 October

Italy regions back 'big bang' autonomy
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel police detain 15 over campaign

GMT 14:19 2017 Monday ,23 October

Israel police detain 15 over campaign
Arab Today, arab today Maltese demand justice for murdered

GMT 06:08 2017 Monday ,23 October

Maltese demand justice for murdered
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla to build wholly-owned plant

GMT 07:55 2017 Monday ,23 October

Tesla to build wholly-owned plant
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Rogina happy for reactions to “The Flood”

GMT 09:30 2017 Friday ,20 October

Rogina happy for reactions to “The Flood”
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:07 2017 Sunday ,22 October

15,000 Under Fives Die

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday