US indexes fall early; tech, healthcare lead declines
Main U.S. indexes red; Nasdaq off most, down >1.5%
Tech weakest S&P sector; Utilities lead gainers
Euro STOXX 600 index off ~0.7%
Dollar slips; crude off; gold edges up; bitcoin gains
U.S. 10-Year Treasury yield rises to ~4.47%
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com
U.S. INDEXES FALL EARLY; HEALTHCARE, TECH LEAD DECLINES
U.S. stocks are sharply lower in early trading Friday, with the S&P 500 .SPX and Nasdaq .IXIC down more than 1% each, with data showing U.S. retail sales increased slightly more than expected in October and healthcare and technology declining the most among sectors.
Shares in global vaccine makers and drugmakers are under pressure after U.S. President-elect Donald Trump picked Robert F. Kennedy Jr., who has previously spread misinformation on vaccines, to lead the Department of Health and Human Services (HHS). Shares of Pfizer PFE.N are down 3.5%.
The declines come a day after Federal Reserve Chair Jerome Powell said the U.S. central bank does not need to rush to lower interest rates given ongoing economic growth, a solid job market, and inflation that remains above the 2% target.
This morning's data showed retail sales rose 0.4% last month, slightly more than the 0.3% increase expected by economists.
Traders increased bets that the Fed will keep rates on hold at its December meeting - pricing in a 41.3% chance as of Friday, compared with 14% a month ago, according to the CME FedWatch tool.
Here is the late morning snapshot:
(Caroline Valetkevitch)
*****
FOR FRIDAY'S EARLIER LIVE MARKETS POSTS:
BITCOIN'S EYE-POPPING RALLY SAW HIGHEST TRADING VOLUMES SINCE MARCH - CLICK HERE
S&P 500 BULLS SUDDENLY IN NO HURRY AS POST-ELECTION RALLY STALLS - CLICK HERE
LOONIE TUNES: CANADIAN DOLLAR LOOKS VULNERABLE - CLICK HERE
FEAR OVER FUNDAMENTALS - CLICK HERE
TRUMP NOT TRIGGERING WORRIES ABOUT US DEBT AFFORDABILITY - CLICK HERE
DIGGING DEEPER INTO UK GDP FIGURES - CLICK HERE
HEALTHCARE LEADS EUROPE LOWER - CLICK HERE
EUROPEAN STOCK FUTURES HEAD SOUTH - CLICK HERE
CHINESE CONSUMERS SPEND MORE, JUST NOT ON PROPERTY - CLICK HERE
early snapshot https://tmsnrt.rs/48VpVRI
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
