Daily Archives: February 5, 2016

U.S stocks close sharply lower

U.S stocks close sharply lower

السبت 1437/4/27 هـ الموافق 2016/02/06 م واس

New York, Rabi’II 27, 1437, February 06, 2016, SPA — U.S. stocks closed sharply lower Friday amid a huge plunge in technology stocks and mixed U.S. employment data.

The Dow Jones industrial average fell 211.75, or 1.29 percent, to 16,204.83. The broader Standard & Poor’s 500 index fell 35.43, or 1.85 percent, to 1,880.02. The technology-heavy Nasdaq composite index fell 146.42, or 3.03 percent, to 4,363.14.
01:24 LOCAL TIME 22:24 GMT

U.S. Trade Deficit Grows as Exports Fall

Washington, Rabi’II 26, 1437, Feb 5, 2016, SPA — The U.S. trade deficit increased in December as exports fell for a third consecutive month, the government reported Friday, reflecting the pressures of a stronger dollar and spreading global weakness.
The Commerce Department said the trade deficit rose 2.7 percent to $43.4 billion. Exports fell 0.3 percent, driven by declining sales of civilian aircraft, autos, and farm products, as the dollar gained 9.2 percent against other major currencies last year, eroding the appeal of U.S.-made goods overseas.
Imports increased 0.3 percent in December to Americans purchased more foreign-made cars and petroleum.
For all of 2015, the trade deficit rose 4.6 percent to $531.5 billion. Exports fell 4.8 percent, the first annual drop since 2009, amid the Great Recession. Imports fell 3.1 percent.
A wider trade deficit limits economic growth because it means fewer overseas sales by U.S. producers and larger imports of foreign goods. The deficit subtracted about 0.5 percentage point from gross domestic product (GDP) in the fourth quarter, keeping the growth rate at a weak 0.7 percent annual rate.
Trade also is expected to limit growth in 2016, with the dollar continuing to rise and China, the world’s second-biggest economy, still struggling to address slowing growth.
The politically sensitive U.S. trade deficit with China set a record in 2015, rising 6.6 percent to $365.7 billion. The deficit with the European Union also set a record, rising 7.9 percent to $153.3 billion.

20:11 LOCAL TIME 17:11 GMT

German factory orders slump despite stronger global demand

Berlin, Rabi’II 26, 1437, Feb 5, 2016, SPA — New German factory orders slumped more than forecast in December despite a solid gain in foreign demand, dpa cited data released as showing on Friday.
Monthly factory orders dropped by 0.7 per cent in December after rising by 1.5 per cent in November, the Economics Ministry said.
Analysts surveyed by dpa-AFX had expected a 0.5-per-cent drop in December. On the year, new orders were down by 2.7 per cent.
Dragging the December order book data down were a 2.5-per-cent fall in domestic orders and a hefty 6.9-per-cent drop in demand from Germany’s key trading partners in the eurozone.
However, total foreign orders rose 0.6 per cent, raising hopes of a pickup in the global economy after months of worries triggered by a slowdown in major emerging markets, notably China.

14:23 LOCAL TIME 11:23 GMT

European shares little changed before U.S. jobs data, BNP rises

MILAN, Rabi’II 26, 1437, Feb 5, 2016, SPA — European shares were little changed in choppy trade on Friday with investors reluctant to take up big positions before a key U.S. jobs report that could provide clues on the Federal Reserve’s monetary policy outlook, Reuters reported.

U.S. employment gains likely slowed in January as the boost to hiring from unseasonably mild weather faded, but an expected rebound in wages and a steady jobless rate will suggest the labor market recovery remains firm.

Nonfarm payrolls probably increased by 190,000 jobs last month, according to a Reuters survey of economists.

By 0911 GMT, the pan-European FTSEurofirst 300 index was up 0.03 percent at 1,294 points, after a fall of 0.15 percent in the previous session.

BNP Paribas was among the top gainers, up 4.8 percent, after France’s biggest bank presented plans to cut investment banking costs in a bid to bolster profitability and said it would quit some activities to fuel growth.

Nokian Tyres rose 7.8 percent after better-than-expected earnings, while French builder Vinci rose 2 percent after predicting higher profits and a slight fall in revenues this year.

ArcelorMittal fell 5.4 percent after the world’s largest steelmaker unveiled plans to raise $3 billion in fresh capital in a bid to reduce debt in the face of weak steel and mining sectors.

12:43 LOCAL TIME 09:43 GMT

Asian stocks directionless ahead of US jobless report

HONG KONG, Rabi’II 26, 1437, Feb 5, 2016, SPA — Asian stock markets were uneven on Friday as investors awaited U.S. job numbers that could influence how much the Fed raises interest rates this year, AP reported.
Japan’s benchmark Nikkei 225 index dropped 1.4 percent to 16,810.66 as the dollar weakened against the yen, hurting shares of the country’s export producers. South Korea’s Kospi edged up 0.2 percent to 1,920.08, Hong Kong’s Hang Seng climbed 0.9 percent to 19,348.64 and the Shanghai Composite in mainland China was flat at 2,782.36. Australia’s S&P/ASX 200 dipped 0.1 percent to 4,976.20.
All eyes are on the U.S. government’s employment report for last month, which will be released later Friday after Asian markets have closed. Analysts expect a solid 200,000 jobs to be added, with the unemployment rate holding steady at 5 percent.
Major U.S. benchmarks closed modestly higher on Thursday. The Dow Jones industrial average rose 0.5 percent to 16,416.58. The Standard & Poor’s 500 rose 0.2 percent to 1,915.45 and the Nasdaq composite rose 0.1 percent to 4,509.56.
Oil futures were steady after the wild swings of recent days. Benchmark U.S. crude rose 6 cents to $31.78 a barrel in electronic trading on the New York Mercantile Exchange. The contract lost 56 cents to settle at $31.72 on Thursday after jumping 8 percent the day before. Brent crude, a benchmark for international oil prices, added 15 cents to $34.51 a barrel in London.
The dollar weakened to 116.87 yen from 116.96 yen in the previous day’s trading, bringing its loss for the week to 3.5 percent. The euro eased to $1.1187 from $1.1199, its highest in more than three months.

10:30 LOCAL TIME 07:30 GMT

U.S. stocks close modestly higher

U.S. stocks close modestly higher

الجمعه 1437/4/26 هـ الموافق 2016/02/05 م واس

NEW YORK, Rabi’II 26, 1437, February 05, 2016, SPA — U.S. stocks posted modest gains Thursday.

The Dow Jones industrial average rose 79.92 points, or 0.49 percent, to 16,416.58 points. The Standard & Poor’s 500 index rose 2.92 points, or 0.15 percent, to 1,915.45 points. The Nasdaq composite index rose 5.32 points, or 0.12 percent, to 4,509.56.
03:28 LOCAL TIME 00:28 GMT

Guatemala sees 2016 GDP growth of 3.2-3.9 pct, possible int'l bond

Guatemala sees 2016 GDP growth of 3.2-3.9 pct, possible int’l bond

الجمعه 1437/4/26 هـ الموافق 2016/02/05 م واس

GUATEMALA CITY, Rabi’II 26, 1437, February 05, 2016, SPA — Guatemala’s government sees economic growth slowing this year to between 3.2 percent and 3.9 percent, and could issue an international bond later this year if conditions permit, Finance Minister Julio Hector Estrada said on Thursday, according to Reuters.

Guatemala’s government has forecast full-year economic growth of 4 percent for 2015.
03:14 LOCAL TIME 00:14 GMT