US macroeconomic data continues to exceed expectations, in which the employment numbers strengthen a recovery scenario for the American economy. However, after today’s opening, U.S. stocks fell, with the Standard & Poor’s 500 Index retreating after touching its average price for the past 50 days, as small-cap shares resumed a selloff following a fifth weekly decline.
This morning, Asian shares closed positive, reacting to the smaller number of protesters on the streets of Hong Kong.
The positive opening of major European indices, led to a marginal climb throughout the day. DAX30 was in decline throughout the day. It is important to notice that the German market was closed last Friday.
Alcoa Inc. unofficially starts the U.S. earnings season the same day as it reports third-quarter earnings. Eight other S&P 500 companies will post results this week.
SP 500 Daily chart: