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Wall Street closing: Dow breaks three day gains

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 21, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Guatemala) - U.S. stocks closed lower Tuesday after a bad start. The Dow Jones industrial breaking a three-day streak of gains. We are into corporate earnings again while commodities are also setting the tone with drops in base metals on global growth fears with a new report from the Asian Development Bank that cut its growth forecast for China.

    To start out, stock futures for the Dow Jones industrial average were down about 260 points on the back of the losses in European markets. Meanwhile, U.S. stocks then traded in a narrow range for most of the US shift session after opening lower. Miners were slammed following a 2% decline in copper prices and Glencore down more than 10 percent. The Nasdaq Composite hit a session low of 4,866.60 due to the iShares Biotechnology ETF (IBB), which closed down 3.16 percent.

    EUR/USD was closing below the cluster of hourly MA's.
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