US stocks break winning spree

The US stocks eased yesterday, coming off their record highs as worries over the government shutdown weighed on the market. Lack of major economic releases also weighed on the sentiments and the Dow Jones Industrial Average dropped 0.2%. The S&P 500 fell 0.4%, while the tech-heavy Nasdaq Composite slipped 0.7%. DOW is holding around 46600 mark and is up around 9.5% on a year-to-date basis. Risk sentiment was also hurt amid geopolitical unease and COMEX Gold futures hit $4,000 per ounce for the first time ever, as investors continued to prefer the safe-haven asset. Markets will now focus on September quarter Earnings results. The pullback on Wall Street in last session followed recent strength in the markets, which saw the S&P 500 close higher for seven straight sessions. Meanwhile, the US Lawmakers continue to struggle to pass a temporary funding bill due in part to Democrats' demands that the legislation include an extension of enhanced Obamacare tax credits.

Powered by Capital Market - Live News