Slight weaknesses imbued US stock futures on Tuesday morning, marking a second consecutive day of slippage as traders and investors refrained from implementing larger deals.
Tuesday, July 8, 2014
While some economic data released by the world's largest economy has been strong and illustrative of the strengthening economy, some traders are focusing on a rapid increase of revenue development. Corporations are releasing earnings data from the first half of this year, which also is drawing attention. Just before noon in New York, the Nasdaq fell 1.77%, a loss of 78.98 points to 4,372.69; the S&P 500 dipped 0.86%, a dive of 16.91 points to 1,960.74; and the Dow fell 0.83%, a loss of 142.12 points to 16,882.09.
Another factor making investors and traders edgy is Wall Street enduring its largest single-day losses in about 14 days on Monday. But the S&P 500 achieved gains of nearly 10% on the first day of the trade week after having scraped its lowest value since 2007.
Equities push toward five-year highs
The equity index is humming this week as it approaches its top value since late 2009, Bloomberg reports. It is at nearly 17-times the forecast earnings of members and has pushed beyond the five-year average of 14.3.
Investors and traders are bracing themselves for the release of minutes from last month's Fed policy maker meeting, which is scheduled for Wednesday. Details about the most recent meeting might drop hints about the denouement of the body, though expectations are high that it will continue reducing monthly asset purchases.
Conflict intensifies between Israel, Palestinians
The ongoing strife in the Eastern Mediterranean between Israel and the Palestinians is on the brink of further escalating, USA Today reports. Israel claims it is targeting operatives of militant group Hamas in the Gaza Strip, where several people have been killed by Israeli airstrikes. Israel has endured almost 300 rockets and mortars discharged from the Gaza Strip.
The pressing topic is whether Israel will launch a ground-force invasion of the territory as part of the military tactic called "Operation Protective Edge." The fighting between the two entities comes after several years of relative calm. The uprising finds its base in the abduction and killing of three Israeli teens, which apparently prompted the abduction and murder of a Palestinian teen as vigilante justice.
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