Daily News | Major Wall Street indexes fell

We will begin today’s news review with the situation in the US which is quite dynamic these days. Major Wall Street indexes fell overnight and some sectors (such as energy sector) have been experiencing a decline for a couple of days now. Analysts think that the reason why major Wall Street indexes fell might be due to investors’ concerns over the progress of the U.S. tax reform plan. The dollar index .DXY jumped against six major currencies and now is at 93.828.

On the other side of the Pond, European stock futures STXEc1 rose 0.3 percent, FTSE futures FFIc1 and CAC futures FCEc1 jumped for the same percentage and Dax futures FDXc1 rose 0.4 percent. Most analysts agree that the positive trend will continue for European equity traders. As for Asia, Japan’s Nikkei .N225 jumped 1.5 percent after a six –day losing streak. The broadest index of Asia-Pacific shares outside Japan, .MIAPJ000PUS, jumped 0.7 percent.

The last piece of news today has to do with IBM and other similar companies. According to Glen Kacher, president and founder of Light Street Capital Management, Square Inc’s technology could mean trouble for IBM. The company is down 11.5 percent for the year to date, which certainly adds to Kacher’s statement. Join us tomorrow for more interesting market information!

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