The market ended an abbreviated Tuesday session on a disappointing note, falling victim to a late tech-led sell off. The S&P 500 ended lower by 0.5%, closing near its worst mark of the day and dropping about six points below its 50-day moving average. The Dow (-0.5%) and the Nasdaq (-0.9%) also slid, but the small-cap Russell 2000 added 0.3%.
Stocks got off to a good start on Friday but gave back nearly everything during the final hour of trading. The S&P 500 was up 1.0% at its best mark of the day, but ended with a gain of just 0.1%, closing a tick above its 50-day moving average. The Nasdaq also added 0.1%. The Dow climbed 0.2%.
March 1st: Signs of weakness
China PMI shows manufacturing activity shrank for a second straight month. 2015 GDP growth target is set at 7%, the lowest in 11 years. China’s new model focuses on quality of economic growth over quantity of economic growth.
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The O&G Research Team publishes insights on the global markets. Our research scope ranges from the US to China.
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