US stocks trade lower after five weeks of gains

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 21, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Stock markets in the US fell in early trading on Monday as buyers are taking a breather after five straight weeks of shopping spree.

    At the time of writing, Dow Jones Industrial Average (DJIA) was 40 points. S&P 500 index was down 4 points and Nasdaq traded 5 points lower.

    Shares in Nike were up 2.18%, followed by a 1% rise in Wal-Mart Stores. Meanwhile, losing side included names like Intel, DuPont, Chevron and JP Morgan.

    Stocks struggled to push higher despite a rise in oil prices, contradicting a recent trend of strong correlation between oil and stock prices. Still, losses are miniscule as sentiment still remains in favor of risk assets two-months of financial market volatility forced the Federal Reserve to indicate it would keep borrowing costs lower for longer.
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