China reported factory output rose 4.8% from a year earlier in July, on a par with June's increase. Retail sales fell 1.1%, as consumers remain cautious.
Trade tensions between the U.S. and China are also on investors' minds as so much of Asian regional growth depends on exports to those giant economies. "We are seeing Asia markets broadly assuming a mixed tone, taking a measured stance between the U.S. fiscal stimulus stalemate and the Chinese data and U.S.-China trade talks," said Jingyi Pan, market strategist at IG in Singapore.
It was just the second loss for the S&P 500 in the last 10 days. The index began stumbling in the early afternoon, as Treasury yields were accelerating following an auction of 30-year bonds by the U.S. government and a report showing that 963,000 U.S. workers filed for unemployment benefits last week. That's an incredibly high number, but still the lowest tally since March.
Source: Digital Coin News (digitalcoinnews.net)
According to CTV if stocks are down it is because of the pandemic, if they are up there is no explanation.
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