TeleTrade - Analytics

TeleTrade

518.25 6.75/10
57% of positive reviews
Real

02.11.2015 07:03 Global Stocks: U.S. stock indices posted strong gains in October

U.S. stock indices edged down on Friday amid mixed earnings and some weaker-than-expected economic reports, but posted strong gains over the month.

The Dow Jones Industrial Average declined 92.26 points, or 0.5%, to 17663.54 ( 0.1% over the week and 8.5% during October). The S&P 500 lost 10.05 points, or 0.5%, to 2079.36 ( 0.2% over the week and 8.3% during October). The Nasdaq Composite fell 20.53 points, or 0.4%, to 5053.75 ( 0.4% over the week and 9.4% during October).

Personal spending in the U.S. rose by 0.1% in September compared to a 0.4% increase in August and a 0.3% rise in July. Meanwhile personal income rose by 0.1%. Economists expected both indices to grow by 0.2%.

This morning in Asia Hong Kong Hang Seng fell 0.64%, or 144.39, to 22,495.65. China Shanghai Composite Index lost 0.13%, or 4.38, to 3.378.18. The Nikkei plunged 1.94%, or 370.43, to 18,712.67.

Asian indices declined after a report showed that economic activity in China's manufacturing sector contracted in October, although the pace of decline slowed down. Markit/Caixin Manufacturing Purchasing Managers' Index came in at 48.3 in October compared to expectations for a 47.5 reading and 47.2 reported previously. China's economy affects the global economy, that's why these data will influence currency markets as well.

Japanese stocks declined as many investors took profits after four consecutive sessions of gains.



To leave a comment you must be or register

By visiting our website and services, you agree to the conditions of use of cookies. Learn more I agree