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US stocks struggle to follow global stocks rally

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 9, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Mumbai) - The US stocks trade dead flat despite the stock markets in Asia and Europe, rallying on the back of oil driven risk-on sentiment.

    At the time of writing, the Dow Jones industrial Average (DJIA) was up 5 points, while the S&P 500 was up just 1 points. The Nasdaq had added 5 points.

    Among the DJIA stocks, shares in Apple rose 1.3%, followed by a 1.2% rise in the UnitedHealth shares. On the other hand, Intel shed 1.14%, followed by a 0.9% drop in the Caterpillar. Microsoft shares also lost 0.68%.

    Alcoa shares, which are part of S&P 500, dropped 5% the aluminium producer said it now expects 2015 automotive production growth in China to be in the range of 1% to 2%, down from a previous outlook of 5% to 8% growth.

    On the data front, US import prices declined in September, although at a slower-than-expected rate. The prices the US paid for imported goods fell by a seasonally adjusted 0.1% in September, much smaller than the 1.6% plunge.
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