Stocks slip on Wall Street, oil drops amid economy worries

Stocks slip on Wall Street, oil drops amid economy worries
Featured Times
Spread the love

[ad_1]

Stocks edged lower in morning trading on Wall Street Monday as investors remain focused on the economy and prepare for several updates from retailers this week.

The S&P 500 fell 0.3% as of 10:15 a.m. Eastern. The Dow Jones Industrial Average fell 40 points, or 0.1%, to 33,720 and the Nasdaq fell 0.2%.

US crude oil prices slumped 4.9% on worries about the global economy and weighed heavily on energy stocks. Exxon Mobil fell 3.8%.

China’s central bank cut a key interest rate after acknowledging more needs to be done to shore up its economy, the world’s second largest. It’s the latest warning for markets that are already on edge over record-high inflation and fears about recessions in the US and elsewhere.

Treasury yields fell as a measure of manufacturing in New York state unexpectedly sank deeply into contraction. The yield on the 10-year Treasury, which banks use to set mortgage rates, fell to 2.77% from 2.83% late Friday.

Financial stocks also fell broadly. Bank of America slipped 1.2%.

Moderna rose 4% after British regulators authorized an updated version of its Covid-19 vaccine.

The broader market has risen for four straight weeks on hopes that inflation is peaking and the Federal Reserve could ease up on its aggressive interest rate hikes. The central bank has been raising short-term interest rates to help slow economic growth and cool the hottest inflation in 40 years.

Wall Street is worried that the Fed could hit the brakes too hard and send the economy into a recession, and any signal that inflation could be peaking or retreating has helped ease some of those worries.

Investors are also keeping a close watch on how inflation is affecting businesses and consumers. Spending has slowed and the broader economy has already contracted for two straight quarters. Several big retailers will report their earnings this week and give investors more details on how some businesses are holding up.

Home Depot and Walmart will report their latest results on Tuesday and Target will report results on Wednesday.

Wall Street will also get a broader look at the health of the retail sector and consumer spending when the Commerce Department releases its July retail sales report on Wednesday. Economists surveyed by FactSet expect modest 0.2% growth from June, when sales rose 1%. That increase largely reflected higher prices, particularly for gas. But it also showed that Americans continue to spend, providing crucial support for the economy, though some economists suggest that’s mostly coming from higher-income households.

[ad_2]

Source link

Tags:

109 thoughts on “Stocks slip on Wall Street, oil drops amid economy worries”

  3. These are also the first drugs that a doctor is likely to prescribe if you are not able to lower your high blood pressure through diet and exercise tadalafil cialis from india About 125, 000 people of more than 140 nationalities work at Novartis around the world

  22. Іts like you read my mind! Yoᥙ seem to know a lot about this, like you wrote thｅ
    book in it or somethіng. I think that you cаn do with some
    pics tߋ drive the message h᧐me a Ƅit, but іnstead of
    that, this is ցreat bloց. An excellent read.
    I’ll certɑinly bｅ back.

  25. Write more, thats all I have to say. Literally, it seems
    as though you relied on the video to make your point.
    You obviously know what youre talking about, why waste your intelligence
    on just posting videos to your site when you could be giving us something enlightening to read?

  36. Pretty portion of content. I just stumbled upon your web site and in accession capital to
    say that I acquire actually enjoyed account your weblog posts.
    Anyway I’ll be subscribing in your feeds and even I achievement you get admission to constantly rapidly.

  39. “First, waterboarding is a form of torture and, contrary to popular belief, torture simply does not work,” Mr.
    Melzer emphasized. Convention against Torture and
    Other Cruel, Inhuman or Degrading Treatment or Punishment.
    R Adm Harry Harris arrived, the base commander who would
    go on to command the Pacific fleet, accompanied by Col Michael
    Bumgarner, the head of the overall prison complex.
    Harris said in an interview he had “no regrets” about anything that occurred there and was “very proud” of those who served with
    him. There is an ongoing debate about CIA use of the interrogation technique
    known as “waterboarding” and other so-called “enhanced interrogation techniques.” Waterboarding simulates drowning though forced inhalation of water into
    the lungs and nasal passages. IF YOUR USE OF THE CONTENT ON THIS SITE RESULTS IN THE NEED FOR SERVICING, REPAIR OR CORRECTION
    OF EQUIPMENT OR DATA, YOU ASSUME ALL COSTS THEREOF.
    IMPACT: Guantánamo Bay Naval Base, located in Cuba, was chosen as the site of a detention center due to its uncertain legal status-allowing the U.S.
    What you get: site improvements, recognition in the site credits.
    But the effects of what he endured at Guantánamo are by no means behind him.

  43. Write more, thats all I have to say. Literally, it seems
    as though you relied on the video to make your point.

    You clearly know what youre talking about, why throw away your
    intelligence on just posting videos to your site when you could be giving us something
    informative to read?

  104. PBN sites
    We shall create a web of privately-owned blog network sites!

    Benefits of our self-owned blog network:

    We perform everything so Google DOES NOT comprehend THAT THIS IS A PBN network!!!

    1- We buy domains from different registrars

    2- The principal site is hosted on a virtual private server (Virtual Private Server is rapid hosting)

    3- The remaining sites are on various hostings

    4- We allocate a individual Google profile to each site with verification in Google Search Console.

    5- We create websites on WordPress, we don’t employ plugins with the help of which Trojans penetrate and through which pages on your websites are generated.

    6- We refrain from reiterate templates and utilise only individual text and pictures

    We never work with website design; the client, if wished, can then edit the websites to suit his wishes

  107. Understanding COSC Accreditation and Its Importance in Horology
    COSC Validation and its Stringent Standards
    Controle Officiel Suisse des Chronometres, or the Official Swiss Chronometer Testing Agency, is the official Swiss testing agency that verifies the accuracy and accuracy of wristwatches. COSC validation is a sign of excellent craftsmanship and trustworthiness in timekeeping. Not all timepiece brands pursue COSC accreditation, such as Hublot, which instead adheres to its own demanding standards with movements like the UNICO, attaining equivalent precision.

    The Science of Precision Timekeeping
    The core system of a mechanized watch involves the mainspring, which delivers energy as it loosens. This mechanism, however, can be susceptible to external elements that may influence its accuracy. COSC-validated movements undergo demanding testing—over 15 days in various conditions (5 positions, 3 temperatures)—to ensure their durability and reliability. The tests assess:

    Typical daily rate accuracy between -4 and +6 seconds.
    Mean variation, peak variation rates, and impacts of thermal variations.
    Why COSC Accreditation Is Important
    For watch aficionados and connoisseurs, a COSC-validated timepiece isn’t just a piece of technology but a testament to enduring quality and precision. It represents a timepiece that:

    Offers excellent reliability and accuracy.
    Provides confidence of quality across the complete construction of the timepiece.
    Is likely to maintain its worth more effectively, making it a sound choice.
    Popular Timepiece Manufacturers
    Several renowned brands prioritize COSC accreditation for their timepieces, including Rolex, Omega, Breitling, and Longines, among others. Longines, for instance, provides collections like the Record and Spirit, which highlight COSC-accredited mechanisms equipped with innovative materials like silicon equilibrium springs to boost resilience and performance.

    Historical Context and the Development of Chronometers
    The idea of the timepiece dates back to the requirement for exact chronometry for navigational at sea, highlighted by John Harrison’s work in the 18th century. Since the formal foundation of Controle Officiel Suisse des Chronometres in 1973, the certification has become a yardstick for assessing the precision of luxury timepieces, sustaining a tradition of excellence in watchmaking.

    Conclusion
    Owning a COSC-certified timepiece is more than an visual selection; it’s a commitment to quality and precision. For those valuing accuracy above all, the COSC accreditation provides tranquility of mind, ensuring that each accredited watch will function reliably under various conditions. Whether for personal satisfaction or as an investment, COSC-validated timepieces stand out in the world of watchmaking, carrying on a tradition of meticulous timekeeping.

Leave a Reply

Your email address will not be published. Required fields are marked *