Wednesday, August 19, 2015

Market outlook : US and European markets -- 19 August 2015

The market has faced selling pressure since the opening bell after the overnight session featured more volatility in Chinese equities. The continued gyrations overseas have weighed on investor sentiment while a noteworthy plunge in crude oil futures has added to the jitters. That being said, investors are set to receive the minutes from the July FOMC meeting at 14:00 ET, which could inject more volatility into today's market.
  • All ten sectors display midday losses with energy (-2.6%) leading the slide. The sector has been battered by the plunging crude as the energy component trades lower by 4.3% at $41.25/bbl. Meanwhile, the second-weakest sector, materials (-1.5%), has been pressured by steelmakers while gold miners have shown relative strength.

 US markets:


European market (all red except Greece and Poland):
  • Major European indices traded lower across the board with Germany's DAX (-1.4%) leading the retreat. Meanwhile, the German parliament has passed the third Greek bailout program, but there was increasing opposition with 113 lawmakers voting against the package.

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