Europe Stocks Drop due to Weakened Chemicals Sector

Europe Stocks Drop due to Weakened Chemicals Sector

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US stocks were boosted Friday by continued high consumer discretionary spending and a steady rise for oil. The S&P 500 Index and the Dow Jones Industrial Average both exhibited a moderate rise on the back of pre-July-4 expenditure. The increased trading leading to the holiday is part of a larger boost to the US market provided by increased consumer discretionary expenditure, which has played a big role in the last several weeks. 

The Figures 

The Dow Jones Industrial Average rose by 0.3%, leading to an overall quarterly rise of 3.3%. 

The S&P 500 Index followed up Thursday’s 0.9% decline with a 0.2% rise on Friday, its quarterly movement totaling a gain of 2.6%.

The Nasdaq Composite Index was the lone exception, falling 0.1%. Nevertheless, the gauge exhibited a 3.9% rise over the quarter. 

Volatility is likely to remain a feature of the U.S. economy in the coming weeks, though not to the extent seen in the past. Following steady stimulus for nine years, an unparalleled mark, normalizing central bank policy has again become a key issue. Despite the trajectory of U.S. consumer spending matching analysts’ predictions, some investors could be concerned about the ability of the economy to withstand a tightening cycle.

The Figures 

The Stoxx 600 Europe Index fell 0.3%, due to the significant losses in the chemical sector. Even the boost in technology and consumer shares couldn’t overcome the chemical sector deficit. 

The euro gained 0.6% on Thursday but fell 0.2% to US$1.1421. The euro’s Thursday level was its highest since the Brexit, and a part of an overall 7.2% rise over the quarter. 

The Pound gained 3.8% over the quarter, ending seven days of successive gains with a 0.1% rise and culminating at US$1.3025.