{"id":2016670,"date":"2023-08-30T12:05:02","date_gmt":"2023-08-30T16:05:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/u-s-stocks-steady-dollar-softens-as-weak-data-supports-fed-pause\/"},"modified":"2023-08-30T12:07:53","modified_gmt":"2023-08-30T16:07:53","slug":"u-s-stocks-steady-dollar-softens-as-weak-data-supports-fed-pause","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/u-s-stocks-steady-dollar-softens-as-weak-data-supports-fed-pause\/","title":{"rendered":"US stocks stable, dollar weakens on poor data, backing Fed&#8217;s pause."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fu-s-stocks-steady-dollar-softens-as-weak-data-supports-fed-pause%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2016670&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<p><strong>Wall Street\u2063 Wavers as\u200c Disappointing Economic Data Raises Fed Pause Probability<\/strong><\/p>\n<blockquote>\n<p>By \u2062Stephen Culp<\/p>\n<\/blockquote>\n<p>All three major U.S. stock indexes oscillated\u200b slightly between red and \u2064green\u2063 on the\u200c penultimate trading day of August, which\u2062 remains on track to mark the S&#038;P 500\u2019s biggest monthly\u200d percentage drop since February, \u2064and the tech-laden Nasdaq\u2019s \u200dlargest slide \u200dthis year.<\/p>\n<p>A barrage of economic indicators generally surprised to the downside, including private\u2063 payrolls clocking a 52.3% monthly drop and second-quarter GDP revised significantly lower, to 1.7% on a quarterly annualized basis.<\/p>\n<p>Ironically, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/oil-rises-2-as-no-immediate-saudi-output-boost-expected\/\" title=\"Oil rises 2% as no immediate Saudi output boost expected\">weak economic data<\/a>\u200c could be good news for interest rates, as\u200b it could give the Federal Reserve a rationale for <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/u-s-stocks-steady-dollar-softens-as-weak-data-supports-fed-pause\/\" title=\"US stocks stable, dollar weakens on poor data, backing Fed's pause.\">letting key interest rates stand<\/a> at next month\u2019s monetary policy meeting.<\/p>\n<p>\u201cThe data was the kind of disappointing that \u200dmarkets want to see,\u201d said Thomas Martin, senior portfolio manager \u2063at GLOBALT in \u200dAtlanta. \u201cIt came in weaker than consensus, but it wasn\u2019t too weak,\u200b and it fits with the idea \u2063that central \u200dbanks have another data\u200b point that makes them more comfortable with holding steady rather than opting for further rate increases.\u201d <\/p>\n<p>Financial markets have currently priced in\u200d a 90.5% likelihood of a September Fed pause, according to CME\u2019s FedWatch tool.<\/p>\n<p>The Dow Jones Industrial Average fell 5.16 points, \u200bor 0.01%, to 34,847.51, the S&#038;P 500 gained 6.28 points, or 0.14%, to 4,503.91 and the Nasdaq Composite added 32.32 points, or 0.23%, to 13,976.08.<\/p>\n<h2>European Stocks Ease Off Two-Week High<\/h2>\n<p>Across the Atlantic, European stocks\u200b were easing off a two-week high as weakness in the utilities sector was countered by\u200b gains in insurance and basic resources.<\/p>\n<p>The pan-European STOXX 600 index lost 0.13% and MSCI\u2019s gauge of stocks\u200b across the globe gained 0.35%.<\/p>\n<p>Emerging market stocks rose 0.15%.\u2062 MSCI\u2019s broadest index of Asia-Pacific shares outside Japan closed 0.46% higher, while Japan\u2019s Nikkei rose \u20620.33%.<\/p>\n<h3>Dollar Extends Losses as Economic Data Disappoints<\/h3>\n<p>The greenback extended its losses against\u200b a \u200cbasket of world currencies \u2062in the wake of disappointing\u2062 economic data.<\/p>\n<p>The <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/strength-of-u-s-dollar-slips-after-poor-jobs-report\/\" title=\"Strength Of U.S. Dollar Slips After Poor Jobs Report\">dollar index fell 0<\/a>.53%, with the euro up 0.51% to $1.0932.<\/p>\n<p>The Japanese yen\u200d weakened 0.03% versus the greenback at 145.94 per \u2062dollar, while Sterling\u200d was last trading at $1.2718, up 0.63% on the day.<\/p>\n<h3>Slower Economic Growth Lowers Expectations of Interest Rate Hikes<\/h3>\n<p>U.S. Treasury yields slipped after\u200c data showed slower-than<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/swing-district-dems-break-from-biden-on-increased-unemployment\/\" title=\"Swing-District Dems Break From Biden on Increased Unemployment\">-expected economic growth<\/a>, which further lowered \u2064expectations of interest rate hikes in the next few months.<\/p>\n<p>Benchmark 10-year notes last rose 3\/32 in price to yield 4.11%, from 4.122% late on Tuesday.<\/p>\n<p>The 30-year bond last rose 1\/32 in price to yield 4.235%, from 4.237% late on Tuesday.<\/p>\n<h3>Crude Prices Rise Despite Hurricane Impact<\/h3>\n<p>Crude prices heated up as\u2063 <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/small-businesses-decreased-by-nearly-40-since-first-covid-19-case-in-us\/\" title=\"Small Businesses Decreased By Nearly 40% Since First COVID-19 Case In US\">industry data showed<\/a> a large inventory draw even as Hurricane Idalia made landfall in Florida, a region responsible for about 15% of U.S. oil\u200d output.<\/p>\n<p>U.S. crude rose 0.8% to\u2064 $81.81 per barrel and Brent was last at $86.15, up 0.77% on the day.<\/p>\n<h3>Gold Prices Advance\u200c Amid Weak U.S. Dollar<\/h3>\n<p>Gold prices advanced in opposition to weakness in \u200cthe U.S. dollar.<\/p>\n<p>Spot gold added 0.5% to $1,945.99 an ounce.<\/p>\n<p>  (Reporting \u2064by Stephen Culp; Editing by Sharon Singleton)<\/p>\n<p><a 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Investors<\/strong><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>green, reflecting investor uncertainty. The dollar continued to decline due to concerns over the Fed&#8217;s inflation control measures. Disappointing economic data increased the likelihood of the Fed halting its efforts to curb inflation.<\/p>\n","protected":false},"author":66,"featured_media":2016671,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2016670","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2016670","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2016670"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2016670\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2016671"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2016670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2016670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2016670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}