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Wall Street depressed by weak data, drop in oil

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 27, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Mumbai) - The equity markets in the US suffered losses in the early session on Tuesday amid a batch of weak domestic economic report and due to weaker energy prices.

    At the time of writing, the Dow Jones Industrial Average (DJIA) was down 57 points. The S&P 500 had shed 9.5 points, while the Nasdaq was down 20 points. The SmallCap 2000 index was down 11 points or 1%.

    Energy shares like Chevron, Exxon Mobil were down more than 1% each on account of a sharp loss in oil prices. The Dow Jones Oil and Gas index fell 1.63%.

    On the data front, the US durable goods orders, Markit services PMI and Us consumer confidence missed estimates and painted a negative picture of the US economy ahead of the Wednesday’s FOMC rate decision.
    For more information, read our latest forex news.
     

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