US stocks relatively resilient to China data

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 13, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Mumbai) - The stock prices in the US are trading in the sideways manner, as gains remain restricted due to the weak China data.

    At the time of writing, the Dow Jones Industrial Average (DJIA) was trading largely unchanged around 17,132 levels. The S&P too was unchanged around 2017.35 levels, while the NASDAQ was up just 5 points to trade at 4844.5 levels.

    The US stocks are trading relatively resilient compared to its European and Asian peers. Dow futures traded more than 100 points lower ahead of the open, following declines in European stocks and most Asian equities.

    Data released in China earlier today showed, the country’s dollar-denominated imports plunged by a worse-than-expected 20.4% in September from a year earlier, while exports slipped 3.7%. The drop in the exports is hardly surprising, however, the drop in the imports is a major concern, due to which the European and Asian stocks turned lower.

    It remains to be seen if the US equities manage to stay resilient till NY closing or turn lower.
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