Stock prices on Wall Street rose the most on Monday, but fell on European and Asian stock markets as investors faltered in China’s economic data.
The trading session on Wall Street began with a drop due to weak Chinese retail sales and industry data, as well as predictions that the US Federal Reserve (FRS) would soon announce a phasing out of stimulus measures.
However, the Wall Street indices Dow Jones Industrial Average and Standard & Poor’s 500 closed the trading session with new records, while the Nasdaq Composite index fell.
“Weaker economic data from China has damaged [investoru] sentiment, lower retail sales and industrial production, raising questions, or [ekonomikas] the momentum of recovery can be maintained, “said Richard Hunter, market manager at Interactive Investor.
“In addition, some health problems remain in Asia in general, while geopolitical concerns have arisen following developments in Afghanistan and their implications for the region’s future.”
Retail sales in China rose 8.5% year-on-year in July, while industrial output rose 6.4%, both lagging behind analysts’ forecasts.
These weak data are explained by quarantines and other restrictions on movement following new outbreaks of Covid-19 in China, as well as devastating floods.
Due to weak Chinese economic data, world oil prices fell by about 1.5%.
The Dow Jones Industrial Average rose 0.3% to 35,625.40 points on Monday, the Standard & Poor’s 500 rose 0.3% to 4,479.71, and the Nasdaq Composite fell 0.2% to 14,793.76 points.
The London Stock Exchange index FTSE 100 fell 0.9% to 7153.98 points on Monday, the Frankfurt stock exchange index DAX 30 fell 0.3% to 15,925.73 points, while the Paris stock exchange index CAC 40 fell 0.8% to 6838 .77 points.
In the e-commerce of the New York Stock Exchange, the price of WTI crude oil fell by 1.7% on Monday to 67.29 US dollars per barrel. The price of Brent crude fell 1.5% to $ 69.51 a barrel on the London Stock Exchange.
The euro fell against the US dollar from 1.1797 to 1.1781 dollars per euro on Monday, the British pound fell against the US dollar from 1.3866 to 1.3839 dollars per pound, and the US dollar against the Japanese yen fell from 109.59 to 109.23 yen per dollar. The euro appreciated against the pound sterling from 85.08 to 85.10 pence per euro.
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