{"id":48171,"date":"2023-08-14T10:20:52","date_gmt":"2023-08-14T14:20:52","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/u-s-stocks-mostly-lower-after-wall-street-suffers-back-to-back-weekly-losses\/"},"modified":"2023-08-14T10:20:54","modified_gmt":"2023-08-14T14:20:54","slug":"u-s-stocks-mostly-lower-after-wall-street-suffers-back-to-back-weekly-losses","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=48171","title":{"rendered":"U.S. stocks mostly lower after Wall Street suffers back-to-back weekly losses"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002394999\" role=\"document\">\n<p>U.S. stocks were mostly lower in choppy trading early Monday, feeling some pressure as worries over China\u2019s property sector weighed on global markets.<\/p>\n<h2>How stocks are trading<\/h2>\n<ul class=\"articleList\">\n<li>\n      The Dow Jones Industrial Average<br \/>\n        DJIA<br \/>\n       fell 72 points, or 0.2%, to 35,209.<\/p>\n<\/li>\n<li>\n      The S&amp;P 500<br \/>\n        SPX<br \/>\n       was off 3 points, or 0.1%, at 4,461.<\/p>\n<\/li>\n<li>\n      The Nasdaq Composite<br \/>\n        COMP<br \/>\n       was little changed near 13,646.<\/p>\n<\/li>\n<\/ul>\n<p>The S&amp;P 500 and Nasdaq Composite logged back-to-back weekly losses on Friday, while the Dow bucked the trend to post a 0.6% gain.<\/p>\n<div class=\"paywall\">\n<h2>What\u2019s driving markets<\/h2>\n<p>A sour tone from Asia was containing any rise in risk assets on Monday after Country Garden Holdings Co.<br \/>\n        2007,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/201681083\/delayed\" class=\"negative\">-18.37%<\/bg-quote><span>,<\/span><br \/>\n       China\u2019s biggest home builder, saw its shares plunge to another record low on news it was suspending trading in some 11 of its mainland bonds. The news added to fears about the health of the world\u2019s second-biggest economy and left Hong Kong\u2019s Hang Seng<br \/>\n        HK:HSI<br \/>\n       down 1.7%.<\/p>\n<p>\u201cThese latest developments come hot on the heels of weaker-than-expected lending data on Friday, adding to concerns about a stalling economic recovery. They also put more weight on the July indicators for fixed-asset investment, industrial output and retail sales due on Tuesday for more clues about the health of the Chinese economy,\u201d Raffi Boyadjian, lead investment analyst at XM, said in a note.<\/p>\n<p><strong>Also see: <\/strong>Country Garden\u2019s stock slumps 18% after Morgan Stanley downgrade and bond suspension<\/p>\n<p>The S&amp;P 500 recorded two consecutive weeks of losses, shedding 2.6% in the process, after the rally in many big technology stocks such as Apple<br \/>\n        AAPL,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/202934861\/composite\" class=\"positive\">+0.29%<\/bg-quote><br \/>\n       and Nvidia<br \/>\n        NVDA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/200467500\/composite\" class=\"positive\">+3.22%<\/bg-quote><br \/>\n       faltered.<\/p>\n<p>Choppiness in the benchmark 10-year Treasury<br \/>\n        BX:TMUBMUSD10Y<br \/>\n       yield \u2014 which has moved to within several basis points of its highest level since the great financial crisis of 2008-09, partly on expectations of increased government issuance \u2014 has discouraged stock bulls.<\/p>\n<p>With more than 90% of the S&amp;P 500 having reported, the second-quarter earnings season is starting to wind down, although retailers will be a feature in the coming days as Home Depot<br \/>\n        HD,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/208081807\/composite\" class=\"negative\">-0.25%<\/bg-quote><span>,<\/span><br \/>\n       Target<br \/>\n        TGT,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/207799045\/composite\" class=\"negative\">-0.90%<\/bg-quote><br \/>\n       and Walmart<br \/>\n        WMT,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/207374728\/composite\" class=\"negative\">-0.18%<\/bg-quote><br \/>\n       present their numbers. July retail-sales data is due Tuesday morning.<\/p>\n<p>\u201cStronger-than-expected retail sales could fuel the idea that the U.S. economy will fall on its four feet and avoid recession amid the Federal Reserve\u2019s aggressive tightening cycle, but it won\u2019t necessarily impact inflation expectations,\u201d Ipek Ozkardeskaya, senior analyst at Swissquote Bank, said in a note.<\/p>\n<p>\u201cBut anyway, strong sales data and encouraging earnings could halt bleeding in U.S. stocks\u201d after back-to-back declines for the S&amp;P 500 and Nasdaq, she said.<\/p>\n<h2>Companies in focus<\/h2>\n<ul class=\"articleList\">\n<li>\n      <strong>United States Steel Corp.\u00a0<\/strong><br \/>\n        X,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/200069642\/composite\" class=\"positive\">+26.14%<\/bg-quote><br \/>\n       shares\u00a0surged 24.3% after\u00a0<strong>Cleveland-Cliffs Inc.<\/strong><br \/>\n        CLF,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/205424168\/composite\" class=\"positive\">+2.48%<\/bg-quote><br \/>\n      \u00a0announced Sunday\u00a0it had made a $7.3 billion takeover bid\u00a0that was rejected by the steelmaker\u2019s board. Earlier Sunday, U.S. Steel said it was reviewing \u201cstrategic alternatives\u201d after receiving multiple unsolicited acquisition proposals. Cleveland-Cliffs shares rose 1.7%.<\/p>\n<\/li>\n<li>\n      Shares of <strong>AMC Entertainment Holdings Inc. <\/strong><br \/>\n        AMC,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/200235402\/composite\" class=\"negative\">-37.17%<\/bg-quote><br \/>\n       slumped 38% after a Delaware court on Friday approved a revised, but still controversial, stock-conversion plan for the movie-theater chain. The ruling saw AMC preferred equity units<br \/>\n        APE,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/237566503\/composite\" class=\"positive\">+12.08%<\/bg-quote><br \/>\n       jump 6.5%.<\/p>\n<\/li>\n<li>\n      <strong>Tesla Inc. <\/strong><br \/>\n        TSLA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/203558040\/lastsale\" class=\"negative\">-1.85%<\/bg-quote><br \/>\n       shares fell 2.4% after the electric-vehicle maker\u00a0cut the cost of two versions of its Model Y SUVs\u00a0on Sunday.<\/p>\n<\/li>\n<\/ul><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/u-s-stock-futures-volatile-as-wall-street-strives-to-break-2-week-losing-streak-c374d212?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. stocks were mostly lower in choppy trading early Monday, feeling some pressure as worries over China\u2019s property sector weighed on global markets. How stocks are trading The Dow Jones Industrial Average DJIA fell 72 points, or 0.2%, to 35,209. The S&amp;P 500 SPX was off 3 points, or 0.1%, at 4,461. The Nasdaq Composite [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":48172,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-48171","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>U.S. stocks mostly lower after Wall Street suffers back-to-back weekly losses | iFintechWorld<\/title>\n<meta name=\"description\" content=\"U.S. stocks were mostly lower in choppy trading early Monday, feeling some pressure as worries over China\u2019s property sector weighed on global markets.How\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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