S&P 500   4,538.43 (-0.84%)
DOW   34,580.08 (-0.17%)
QQQ   382.70 (-1.85%)
AAPL   161.43 (-1.42%)
MSFT   322.73 (-2.05%)
FB   306.79 (-1.16%)
GOOGL   2,836.45 (-0.80%)
AMZN   3,380.90 (-1.64%)
TSLA   1,010.36 (-6.84%)
NVDA   306.81 (-4.50%)
BABA   112.36 (-7.90%)
NIO   32.08 (-11.38%)
CGC   9.99 (-3.57%)
AMD   143.97 (-4.45%)
GE   92.80 (-2.55%)
MU   81.58 (-1.57%)
T   23.44 (+1.69%)
F   19.11 (-3.82%)
DIS   146.13 (-0.73%)
PFE   54.09 (+1.98%)
AMC   29.03 (-4.13%)
ACB   5.82 (-5.21%)
BA   197.90 (-2.21%)
S&P 500   4,538.43 (-0.84%)
DOW   34,580.08 (-0.17%)
QQQ   382.70 (-1.85%)
AAPL   161.43 (-1.42%)
MSFT   322.73 (-2.05%)
FB   306.79 (-1.16%)
GOOGL   2,836.45 (-0.80%)
AMZN   3,380.90 (-1.64%)
TSLA   1,010.36 (-6.84%)
NVDA   306.81 (-4.50%)
BABA   112.36 (-7.90%)
NIO   32.08 (-11.38%)
CGC   9.99 (-3.57%)
AMD   143.97 (-4.45%)
GE   92.80 (-2.55%)
MU   81.58 (-1.57%)
T   23.44 (+1.69%)
F   19.11 (-3.82%)
DIS   146.13 (-0.73%)
PFE   54.09 (+1.98%)
AMC   29.03 (-4.13%)
ACB   5.82 (-5.21%)
BA   197.90 (-2.21%)
S&P 500   4,538.43 (-0.84%)
DOW   34,580.08 (-0.17%)
QQQ   382.70 (-1.85%)
AAPL   161.43 (-1.42%)
MSFT   322.73 (-2.05%)
FB   306.79 (-1.16%)
GOOGL   2,836.45 (-0.80%)
AMZN   3,380.90 (-1.64%)
TSLA   1,010.36 (-6.84%)
NVDA   306.81 (-4.50%)
BABA   112.36 (-7.90%)
NIO   32.08 (-11.38%)
CGC   9.99 (-3.57%)
AMD   143.97 (-4.45%)
GE   92.80 (-2.55%)
MU   81.58 (-1.57%)
T   23.44 (+1.69%)
F   19.11 (-3.82%)
DIS   146.13 (-0.73%)
PFE   54.09 (+1.98%)
AMC   29.03 (-4.13%)
ACB   5.82 (-5.21%)
BA   197.90 (-2.21%)
S&P 500   4,538.43 (-0.84%)
DOW   34,580.08 (-0.17%)
QQQ   382.70 (-1.85%)
AAPL   161.43 (-1.42%)
MSFT   322.73 (-2.05%)
FB   306.79 (-1.16%)
GOOGL   2,836.45 (-0.80%)
AMZN   3,380.90 (-1.64%)
TSLA   1,010.36 (-6.84%)
NVDA   306.81 (-4.50%)
BABA   112.36 (-7.90%)
NIO   32.08 (-11.38%)
CGC   9.99 (-3.57%)
AMD   143.97 (-4.45%)
GE   92.80 (-2.55%)
MU   81.58 (-1.57%)
T   23.44 (+1.69%)
F   19.11 (-3.82%)
DIS   146.13 (-0.73%)
PFE   54.09 (+1.98%)
AMC   29.03 (-4.13%)
ACB   5.82 (-5.21%)
BA   197.90 (-2.21%)

World shares mostly lower as Chinese growth data disappoints

Monday, October 18, 2021 | Elaine Kurtenbach, AP Business Writer


People pass by an electronic stock board of a securities firm in Tokyo, Monday, Oct. 18, 2021. Asian shares were mostly lower on Monday after China reported its economy grew at a meager 4.9% annual pace in July-September. (AP Photo/Koji Sasahara)

World shares were mostly lower on Monday after China reported its economy grew at a meager 4.9% annual pace in July-September.

Germany's DAX declined 0.5% to 15,506.11 and the CAC 40 in Paris gave up 0.8% to 6,676.21. Britain's FTSE 100 lost 0.2% to 7,216.79.

The future for the Dow industrials was 0.2% lower while the future for the S&P 500 lost 0.3%.

The Shanghai Composite index inched 0.1% lower to 3,568.14, while the Hang Seng in Hong Kong recovered from earlier losses, gaining 0.3% to 25,409.75.

Chinese growth is under pressure as the government seeks to limit energy use and reduce financial risks from reliance on debt-fueled property developments. Shortages of computer chips and other components due to the pandemic are hurting manufacturing.

The 4.9% annual pace of growth was slightly below forecasts and compared with a 7.9% expansion in the April-June quarter, which was exaggerated by the downturn in 2020.

“The growth outlook has weakened due to the various headwinds," Tommy Wu and Louis Kuijs of Oxford Economics said in a report. They forecast that growth would “slow significantly" in the current quarter.

New Zealand's benchmark edged 0.1% lower after figures showed prices jumped 4.9% in July-September from a year earlier. It was the fastest pace of inflation since early 2011.

The figures add to pressure on New Zealand’s central bank to keep hiking rates after it raised the benchmark rate earlier this month for the first time in seven years by a quarter point to 0.5%.

Investors remain uneasy that price increases in many countries could lead to “stagflation,” or a stagnating economy coupled with high inflation.

Other regional shares also fell. Tokyo's Nikkei 225 index gave up 0.2% to 29,025.46. In Seoul, the Kospi lost 0.3% to 3,006.68.

The S&P/ASX 200 in Sydney rose 0.3% to 7,381.10. India's benchmark rose 0.9% to 61,879.24.

On Friday, Wall Street added to its recent gains, with the benchmark S&P 500 posting its best week since July.

The S&P 500 rose 0.7%, while the Dow Jones Industrial Average rose 1.1% and the Nasdaq composite gained 0.5%.

Positive company earnings dovetailed with a report showing people spent much more at U.S. retailers in September than analysts had expected.

The S&P 500 is back within 1.5% of its all-time high after a shaky few weeks as worries about stubbornly high inflation, reduced support for markets from the Federal Reserve and a slowing economy knocked stock prices around.

Early indicators from earnings reports have been encouraging, with companies showing stronger profits than expected. That's crucial after climbing interest rates raised worries that stock prices had grown too expensive relative to profits.

Treasury yields rose following the much stronger-than-expected report on retail sales. The yield on the 10-year note climbed to 1.60% early Monday from 1.57% late Friday.

The price of benchmark U.S. oil rose 90 cents to $83.18 per barrel in electronic trading on the New York Mercantile Exchange. It surged 1.2% to $82.28 per barrel on Friday, continuing a powerful run that has sent it up more than 70% this year and fanned worries about high inflation.

Brent, the global benchmark for crude, climbed advanced 59 cents to $85.45 per barrel. It jumped 1% on Friday, though the price of U.S. natural gas fell 4.9%.

The U.S. dollar rose to 114.32 Japanese yen from 114.22 yen late Friday. The euro fell to $1.1584 from $1.1602.

___

AP Business Writer Joe McDonald in Beijing and Associated Press writer Nick Perry in Wellington contributed.


7 Growth Stocks to Buy as the Market Slumps

At times of volatility, it can be hard for even experienced investors to stay the course. Yet over time, stocks have consistently increased in value. And growth stocks tend to be among the ones that show the largest gains. Growth stocks are companies that analysts believe will grow at a rate that is significantly above the market average.

These stocks are also characterized by companies that invest a significant portion of its profits back into its business in order to accelerate growth. This is opposed to value stocks that make returning a portion of its profits to shareholders a priority. This typically occurs in the form of a dividend. One misconception of growth stocks is that they have a high correlation with the market. It’s true that when the market is moving higher, these stocks tend to outperform. However, when the market is moving lower, these stocks sometimes perform better.

So why should you consider buying growth stocks now? The reason is this. In many cases, the company’s underlying fundamentals are still positive, but the sentiment has changed. And that means it’s a good time to buy these stocks on sale.

View the "7 Growth Stocks to Buy as the Market Slumps".


Resources

Premium Research Tools

MarketBeat All Access subscribers can access stock screeners, the Idea Engine, data export tools, research reports, and other premium tools.

Discover All Access

Market Data and Calendars

Looking for new stock ideas? Want to see which stocks are moving? View our full suite of financial calendars and market data tables, all for free.

View Market Data

Investing Education and Resources

Receive a free world-class investing education from MarketBeat. Learn about financial terms, types of investments, trading strategies and more.

Financial Terms
Details Here
MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research.