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US stocks have fallen and the dollar has reached its worst week in almost two months

New York: Overwhelming earnings reports from Amazon.com Inc weakened the mood of the market and the dollar bounced off lows, but Friday’s U.S. stocks went further from record highs as it hit its worst week in nearly two months. It has fallen.

Amazon has announced that sales growth will slow in the coming quarters as post-pandemic people go out of their homes and reduce online shopping after making record profits during the pandemic.

The investor has sold Amazon stock. Online retailers revenueed $ 113 billion in the second quarter, which was $ 2 billion below analysts’ expectations.

Amazon’s share price fell 7.6%, dropping the technology-focused Nasdaq Composite index by 0.7%. The S & P 500 fell 0.5%, making profits elsewhere. The Dow Jones Industrial Average fell 0.4%. Both the S & P 500 and the Dow hit record highs on Thursday.

Paul Hickey, co-founder of Bespoke Investment Group, LLC, said:

But Hicky also said, “Just because investors were so excited about the company’s recent reports that it didn’t react to Amazon’s performance wasn’t bad,” stocks have risen 17% over the past year. Added.

Still, Amazon’s warning that growth will slow has given investors a reason to monetize their profits.

The Pan-Europe STOXX 600 Index lost 0.45% and MSCI’s global stock price fell 0.74%.

Treasury yields have fallen as investors have avoided risky investments. Data released Friday didn’t seem to change investors’ bet that the Fed wasn’t in a hurry to tighten monetary policy, but annual inflation accelerated further above the Fed’s 2% target. Showed that you are doing.

Benchmark 10-year Treasury yields fell from 1.269% late Thursday to 1.2289%. Yields on 2-year bonds fell from 0.201% to 0.1898%. [US/]

Currency investors took a slightly different view on Friday, betting that the Fed may not be as dovish as some might think.

The dollar, which hit a month-long low on Thursday, rebounded after St. Louis Federal Reserve Bank of St. Louis Governor James Bullard said he should start cutting monthly bond purchases this fall.

The dollar index rose 0.275% and the euro fell 0.23% to $ 1.1859 due to a stronger greenback. [USD/]

However, the dollar fell 0.8% against a basket of six major currencies that week, the worst week since May 9.

Oil prices continued to rise as investors bet that vaccination would mitigate the effects of the resurgence of COVID-19 infections around the world and that demand would continue to grow faster than supply. [O/R]

US crude oil recently rose 0.18% to $ 73.75 a barrel, and Brent was $ 76.33, up 0.37% that day.

Gold prices rose this week on Friday in the hope that the dovish Federal Reserve Board would be a good hedge against inflation given, but succumbed to a slight profit taking on Friday. The strong dollar also weighed heavily on precious metals.

Spot gold fell 0.8% to $ 1,813.26 an ounce. US gold futures fell 1.01% to $ 1,812.70 an ounce. [GOL/]

(Additional report by Andrew Galbraith, edited by Christopher Cushing, Kim Coghill, William Maclean, Timothy Heritage, Joe Bavier, Jane Merriman, Cynthia Osterman)

Disclaimer: This post is auto-published from the agency feed without modification of the text and has not been reviewed by the editor.

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US stocks have fallen and the dollar has reached its worst week in almost two months

Source link US stocks have fallen and the dollar has reached its worst week in almost two months

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