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26-Mar2019

US markets end mostly in red on Monday

The US markets ended mostly in red on Monday  on account of lingering concerns about the outlook for the economy continued to weigh on the markets after dragging stocks sharply lower last Friday. An inversion of the yield curve contributed to economic worries, with the yield on the benchmark ten-year note falling below the yield on three-month bills. The US has thus far held up relatively well amid a global economic slowdown, although Federal Reserve Chairman Jerome Powell has warned about the negative impact slowing growth in Europe and China will have on the US Powell's comments came after the Fed revealed that it no longer expects to raise interest rates this year, which some Participates described as an effort to keep the stock markets afloat amid an expected contraction in first quarter earnings.

Besides, the choppy trading on markets came as traders seemed reluctant to make more significant moves amid a quiet day on the US economic front. Reports on housing starts, consumer confidence, pending home sales, personal income and spending and new home sales are likely to attract attention in the coming days. Traders are also likely to keep an eye on the latest round of high-level trade talks between the US and China set to take place in Beijing this week. However, Dow Jones Industrial Average bucked the trend to rise as shares of Boeing Company rallied after recent losses. Boeing BA shares rose 2.3%, recouping some of the losses in the wake of the fatal crash of the company's 737 Max 8 aircraft near Ethiopia's capital, Addis Ababa that resulted in the death of 157 people. The stock is down 16% so far this month.

Nasdaq lost 5.13 points or 0.07 percent to 7637.54 and S&P 500 was down by 2.35 points or 0.08 percent to 2798.36, while Dow Jones Industrial Average gained 14.51 points or 0.06 percent to 25516.83.


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