Markets Right Now: Indexes slide as energy, tech stocks sink

Traders worked the floor of the New York Stock Exchange Friday

USA employers added a robust 200,000 jobs in January, slightly above market expectations for a 185,000 increase. Prior to the selloff, it had gone 448 days without suffering a drop of 3% or more, the longest run on record. Are we going to see more inflation?. Friday's job and wage data stoked those concerns.

Bond prices on Friday declined again, pushing yields higher. "Rates have risen fairly quickly this year and the speed of the advance is worrying". Against this backdrop, the Dow is on track to trade below 26,000 for the first time since January 22, and in danger of snapping its four-week winning streak. The Nasdaq slid 144.92 points, or 2 per cent, to 7,240.95.

But market players are not convinced that the bull market in stocks that that saw the S&P 500 rise 5.6 percent in January is over.

Industry observers say the almost 7% stock bump over the week signal speculation that the incoming CEO might be open to selling off the company's entertainment assets.

Reports from both Apple and Google parent Alphabet late Thursday disappointed investors, as did Friday's results from ExxonMobil and Chevron, but fourth-quarter S&P 500 company results overall have been much stronger than expected. Brent crude, used to price global oils, fell 68 cents, or 1 percent, to $68.97 per barrel in London.

ExxonMobil slumped 5.1 per cent after reporting a huge increase in fourth-quarter profits due to one-time benefits from USA tax reform.

Other major indexes fell about 2 percent Friday.

Topix index fell 0.3 percent, Hong Kong's Hang Seng Index dropped 0.1 percent, the Kospi index declined 1.7 percent, Australia's S&P/ASX 200 Index rose 0.5 percent.

Larry Nassar attacked in courtroom
Douglas said we shouldn't repay "evil with evil", and her mother said "we have enough violence in the world - enough is enough". She doubts the sincerity of MSU officials in their apologies since it took so long for them to acknowledge Nassar's abuse.

All of the index's 10 main groups were in negative territory.

Some analysts fear the Fed may hike rates four times this year, more than the three they have already signaled. Beyond low unemployment, average hourly wages grew 2.9 percent in the first month of the year compared to January 2017.

This has been a volatile week for USA stocks.

Ironically, Friday's selloff was sparked by continued good news in the job market, with the government reporting that the economy created 200,000 jobs in January, and data showing wages for US workers rose at their fastest pace since 2009 - a pick-up in pay that spurred fears of a spike in inflation. Bloomberg's dollar index surged to erase a weekly loss.

The sharp decline in stocks this week short-circuited a robust start to the year that was spurred by strong global economic growth, solid company earnings and lingering enthusiasm for the GOP tax overhaul.

Their goal was to incentivize investors to put their cash to work in the economy - for example, by buying corporate stocks and bonds - rather than stashing it in the relative safety of government bonds.

More recently, the market had been surging in the so-called 'Trump rally'. The FTSE 100 index of leading British shares gave up 0.6 per cent.

Related News:

Most liked

Israel soldiers kill Palestinian teenager in West Bank arrest raid
President Donald Trump's decision to recognize Jerusalem as the capital of Israel, in the West Bank city of Ramallah, Friday, Feb 2, 2018.

TDP to decide future of alliance with BJP
The TDP chief said the party's next course of action would depend on the response of Prime Minister Narendra Modi's government. Chandrababu Naidu openly conveyed his displeasure in a cabinet meeting held the next day after the union budget at Amaravati .

Poor US leadership will lead to major war with Russia, China
The document said the USA will develop for deployment a "low-yield" nuclear warhead for submarine-launched ballistic missiles. The Pentagon called for the United States to develop two new types of weapons in an update of its nuclear policy Friday.

Iran's clampdown on women protesting against hijab undermines autonomy and dignity
Iranian police have reportedly arrested 29 women for protesting against the country's compulsory hijab law, according to CNN . Judicial authorities in Iran are cracking down on women protesting against obligatory wearing of headscarves known as hijabs .

Don't be flu-clueless; listen to this nurse
The video garnered more than 4 million views on Facebook at the time of publishing this story. And also, maybe don't come if you're not really experiencing "a true emergency", she added.

Dow marks worst single-session point plunge--down 666 points--since 2008
Schlesinger called the fear that the economy is growing faster than expected the "real factor" that seemed to spook the market. The Canadian dollar was trading at 80.69 cents United States , down from Thursday's average price of 81.38 cents US.

Tom Brady vs. LeBron James: Who Is the GOAT?
Reimer was not presenting the "Kirk & Callahan Show" on Monday when Brady called in for his weekly interview. New England Patriots head coach Bill Belichick is no stranger to Super Bowl appearances.

Patriots' Rob Gronkowski cleared to play in Super Bowl
The time I got to spend around him, with him, talking about music, those are memories that I will take with me forever. Our glimmer of hope that Janet Jackson may grace the Super Bowl LII halftime show with her presence has burned out.

Premier says Alberta suspending electricity purchase talks with BC
It is something the industry doesn't want and something that would actually hurt Albertans. At least one Alberta restaurant has already chose to take B.C. wines off its menu.

Salem Goes Red Breakfast Kicks-Off National Wear Red Day
National Wear Red Day is hosted by Go Red for Woman , an organization founded by the American Heart Association . Jerome Pierson setting aside a day to wear red is important because it starts a conversation.

YouTube Go with added features now available in 130 more countries
At launch , if you wanted to use YouTube TV , you were stuck watching content in a web browser or on a smartphone or tablet. It provides live access to nearly 50 networks including major networks like CBS, FOX, ABC , CW, ESPN, Disney, and more.

'Hurt' Mahrez to miss Swansea clash
And it quickly emerged that they wanted a player to be thrown into the bargain to make up part of that valuation. It was hard also for Riyad and we have to understand all the parts: for me, for the squad, for the player.

USA ready to hit Syrian chemical weapons
US officials have said the Syrian government may be also developing new types of chemical weapons. The United States is concerned about the potential use of sarin gas in Syria, U.S.

Cornershot: 'Groundhog Day,' the movie, turns 25
They even made a movie with Bill Murray about Groundhog Day, called " Groundhog Day" (I know, creativity is their strong suit). Groundhog Day is of course observed in other locations in Pennsylvannia, as well as New York, Texas, Ontario and Nova Scotia.

Justice Department Charges Eight Traders With Deceptive Futures Market Trading
Several agencies are involved in the case, including the Department of Justice and the Commodity Futures Trading Commission. A spokesman for the Asia-focused bank told the newswire that the group was pleased to have resolved the matter.