Contracts for share benchmarks in Japan and Australia dropped, while those for Hong Kong equities were flat. The S&P 500 fell 0.7% to close lower for a second day. The tech-heavy Nasdaq 100, which is more sensitive to interest rate expectations, declined 0.9%. US futures were little changed in early Asian trading.
The Institute for Supply Management’s US services index for August reached 54.4, its highest monthly reading since February and one that topped all estimates in a Bloomberg survey of economists. A reading above 50 denotes growth. “The ISM Services Sector report underscores the resilience of the largest portion of the economy,” said Quincy Krosby, chief global strategist at LPL Financial, who pointed to higher prices shown within the data. “This is is certainly not good news for a data-dependent Fed.”
Oil clung to a Wednesday gain, extending a run of nine daily advances. West Texas Intermediate has risen around a fifth in the past three months to edge closer toward $90 per barrel.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asia Stocks Fall as China Property Back in Focus: Markets Wrap(Bloomberg) -- Asian stocks edged lower as traders returned their focus to China’s efforts to halt its economic malaise after markets in the US were shut for the US Labor Day holiday.Most Read from BloombergHuawei Teardown Shows Chip Breakthrough in Blow to US SanctionsMercedes Bets on Range Boost in Swipe at Tesla’s EV LeadDiamond Prices Are in Free Fall in One Key Corner of the MarketStocks Cede China-Led Gains in Thin Holiday Trade: Markets WrapStocks opened lower in South Korea after inflati
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Asia stocks fall as global growth concerns mountAsia stocks fell on Wednesday after weak economic data in China and Europe heightened concerns over global growth, while the dollar firmed as investors weighed the outlook for U.S. interest rates. The Hang Seng Index and China's benchmark CSI300 Index both opened down about 0.3%. A private-sector survey on Tuesday showed China's services activity expanded at the slowest pace in eight months in August, reflecting weak demand.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Asia stocks fall as global growth concerns mountBy Kane Wu HONG KONG (Reuters) - Asia stocks fell on Wednesday after weak economic data in China and Europe heightened concerns over global growth, ...
Source: SaltWire Network - 🏆 45. / 63 Read more »
Stocks shape up for lower open amid China data gloomStock futures slipped on Tuesday, as traders weighed data showing China's economy is still struggling to recover.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stocks edge lower amid China data gloom: Stock market news todayStocks slipped on Tuesday, as traders weighed data showing China's economy is still struggling to recover.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »