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Stocks mostly lower to start the week

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    Risk demand reemerges cautiously, but caution remains in place

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    Risk demand reemerges cautiously, but caution remains in place

    Risk demand reemerges cautiously, but caution remains in place

    Market sentiment dented by recession fears

    Market sentiment dented by recession fears

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    Investor sentiment improves, but gains limited

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    Stocks celebrate US inflation, dollar slumps

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Home » Stocks mostly lower to start the week

Stocks mostly lower to start the week

by Stephen Soo
May 17, 2021 06:12
in Fundamental analysis
0
Stocks mostly lower to start the week

40556994 - close up image of stock market data on a computer monitor.

The USD index struggles for direction around 90.30 on Monday

Asian stocks saw a mixed session on Monday. Chinese data showed that industrial output was up 9.8% in April from a year earlier versus 9.1% expected. Retail sales climbed 17.7% last month, falling short of the 24.9% increase expected. Shanghai Composite gained 0.78%, Japan’s Nikkei 225 fell 0.92%, the Kospi in Seoul dropped 0.60%, while Australia’s S&P/ASX 200 gained 0.13% and the Hang Seng in Hong Kong added 0.59%.

In Europe, equities edged marginally lower despite fears about inflation appear to have subsided. The Stoxx Europe 600 slipped 0.1% in early trade. In individual stocks, Ryanair Holdings edged up 1.2% after the data showed that the company recorded a 1-billion-euro ($1.2 billion) annual loss in the year to March 30. The budget airline also said bookings have jumped significantly from a very low base since the first week of April.

Meanwhile, the USD index struggles for direction around 90.30 on Monday as US 10-year yields drift lower and approach the 1.60% figure. The index navigates the lower end of the recent range amid mixed risk trends at the beginning of the week. Later in the day, the NAHB index will take centre stage seconded by the NY Empire State index.

Elsewhere, oil prices recovered on Friday and have settled below $69 since then. Brent crude struggles to make a decisive break above the $70 figure amid mixed risk sentiment coupled with rising coronavirus cases in several Asian countries. Also, the recovery of a major U.S. pipeline network eased concerns over supply. In the short term, oil prices will likely remain under some pressure, especially as risk sentiment has deteriorated somehow in Europe.

Tags: BRENTHang SengNikkeiOilS&P 500Stoxx 600
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Stephen Soo

Stephen Soo

Stephen's specialty is fundamental analysis. He graduated from the Booth School of Business, the University of Chicago. Stephen currently cooperates with several news agencies, and on FWNews he publishes macroeconomic news and reviews on brokerage companies.

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