Stock market snaps 2-sessions string of gains as geopolitical worries weigh

Stock market snaps 2-sessions string of gains as geopolitical worries weigh

Facebook Inc shares erased premarket gains and were marginally down ahead of CEO Mark Zuckerberg's testimony before US lawmakers on Tuesday and Wednesday.

The reason? The data from the past few decades say that small energy companies are highly levered to the oil price, and the oil price is highly levered to the Middle East situation-especially to security concerns in the Arabian Peninsula, tensions involving countries like Syria, and threats to and from Iran.

The stock decline worsened on a second Russia-focused tweet from Trump roughly 45 minutes later, and premarket losses reached as much as 1.2%. The Dow Jones industrial average was off its earlier lows but still down about 125 points, or 0.5%, after rising almost 429 points the day before.

The Dow Jones industrial average is set to open down 250 points after President Donald Trump warned Russian Federation over its cooperation with the Syrian government.

In Asian markets, Japan's Nikkei Stock Average rose 0.51 percent, Hong Kong's Hang Seng Index climbed 1.29 percent, China's Shanghai Composite Index rose 0.23 percent and India's BSE Sensex rose 0.48 percent. Brent prices gained 2.3 per cent on the day, its largest daily percentage gain since March 21.

Stocks market analysts said following the gains in consumer and industrial goods stocks observed in yesterday's trading session, this presents attractive entry opportunities for investors.

Since at least the mid-1990s, the S&P SmallCap 600 Energy Index has risen much more than the oil price when oil has risen, and fallen much more than oil when oil has fallen. Banks JPMorgan Chase & Co (JPM.N), Citigroup Inc (C.N) and Wells Fargo & Co (WFC.N) will report quarterly results on Friday.

The FANG group, comprising four closely watched internet stocks: Facebook Inc, Amazon.com Inc, Netflix Inc and Alphabet Inc's Google, were up between 1.1 percent and 3.4 percent.




Specifically, at the close of transactions yesterday, the All-Share Index rose by 69.86 points or 0.17 per cent to close at higher at 40,499.04 compared with 40,429.18 posted on Monday. On the Nasdaq, 1,986 issues rose and 790 fell for a 2.51-to-1 ratio favoring advancers.

The major Wall Street indexes edged even lower after minutes from the Federal Open Market Committee showed concern among a few of its members that rising inflation might require a faster pace of interest rate hikes than anticipated.

US stocks are climbing in midday trading as technology companies, banks and industrial companies rally.

The weakness on Wall Street came amid geopolitical concerns after President Donald Trump warned Russian Federation "get ready" for missiles being launched at Syria.

LONDON: The latest salvo in a trade row between the US and China weighed on Britain's FTSE 100 on Friday, though the damage was limited as mining and bank stocks fell while utilities made gains.

The S&P 500 fell 11 points, or 0.5 percent, to 2,644.

The Dow Jones industrial average increased 345 points, or 1.4 percent, to 24,279.

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