Asian stocks started the fourth quarter mixed as the political unrest in Hong-Kong protests continued to weigh on markets. The Chinese market was closed and will remain closed until Friday for a national holiday. In Japan, the Nikkei dropped 0.56% as the YEN continued strengthening against the USD. Another factor was the $617 billion worth of orders that was placed on the over-the-counter market by mistake and was canceled during the session. Tata Motors LTD is up 1.02% despite reporting lower sales than expected. Sberbank dropped 1.67% after reporting their worst quarterly results since 2011. LUKOIL continued with bearish sentiment and according to analysts, the stock is approaching the oversold range where investors should watch out for an upwards correction.
European stocks declined today as Italy reduced its economic growth forecasts. Tesco PLC continued to spiral downwards with another 3.5% loss today. Tesco, which was priced around $500 per share back in October 2007 is now struggling at $180, a $320 drop in value per share. Rio Tinto PLC lost 0.38%. Deutsche Telekom AG lost 1.46%. Fiat SpA dropped 2.55%.
U.S. stocks followed negative EU sentiment and reacted to speculation regarding the European Central Bank meeting tomorrow and the Non-Farm Payroll report on Friday triggering a large sell-off in Wall street. Facebook Inc. declined 3.15% marking the largest decline on the NASDAQ. However, this follows a 5.9% increase in the last two weeks. Ford Motor Co. lost 1.35% and is currently 39 cents from the 52-week low (14.40).
October 1, 2014 – Stock Market News
Asian stocks started the fourth quarter mixed as the political unrest in Hong-Kong protests continued to weigh on markets. The Chinese market was closed and will remain closed until Friday for a national holiday. In Japan, the Nikkei dropped 0.56% as the YEN continued strengthening against the USD. Another factor was the $617 billion worth of orders that was placed on the over-the-counter market by mistake and was canceled during the session. Tata Motors LTD is up 1.02% despite reporting lower sales than expected. Sberbank dropped 1.67% after reporting their worst quarterly results since 2011. LUKOIL continued with bearish sentiment and according to analysts, the stock is approaching the oversold range where investors should watch out for an upwards correction.
European stocks declined today as Italy reduced its economic growth forecasts. Tesco PLC continued to spiral downwards with another 3.5% loss today. Tesco, which was priced around $500 per share back in October 2007 is now struggling at $180, a $320 drop in value per share. Rio Tinto PLC lost 0.38%. Deutsche Telekom AG lost 1.46%. Fiat SpA dropped 2.55%.
U.S. stocks followed negative EU sentiment and reacted to speculation regarding the European Central Bank meeting tomorrow and the Non-Farm Payroll report on Friday triggering a large sell-off in Wall street. Facebook Inc. declined 3.15% marking the largest decline on the NASDAQ. However, this follows a 5.9% increase in the last two weeks. Ford Motor Co. lost 1.35% and is currently 39 cents from the 52-week low (14.40).
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