Gold Futures Suffer Third Straight Loss

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Gold futures suffered their third straight loss in a row as traders digested data on U.S. private-sector employment and looked ahead to the closely watched Friday jobs report.

Gold for April delivery fell $3.50, or 0.3%, to settle at $1,200.90 an ounce on Comex, after tapping a low of $1,197.70. May silver lost 13.8 cents, or 0.9%, to $16.158 an ounce.

Source: MarketWatch

U.S. Stocks Extend Losses; Euro Slides to 11-Year Low Before ECB

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U.S. stocks retreated for a second day, while the dollar rallied as investors assessed data on jobs and service industries for clues to the timing of interest-rate increases. The euro slid to an 11-year low and gold fell.

All but one of 10 industry groups dropped in the Standard & Poor’s 500 Index, which was down 0.4 percent by 4 p.m. in New York, still within 1 percent of a record. European stocks halted a two-day drop. The Bloomberg Dollar Spot Index returned to a decade high as the 19-nation euro touched its weakest level since September 2003. Gold futures fell 0.3 percent. U.S. oil advanced 2 percent, while Brent crude slipped 0.5 percent.

Companies added fewer workers to U.S. payrolls in February compared with the previous month, private data showed before Friday’s official monthly jobs report, while service industries unexpectedly expanded at a faster pace in February. The Federal Reserve’s Beige Book showed most of the U.S. economy continued to grow from January through mid-February, as spending and manufacturing rose. The European Central Bank is expected to unveil more details on its quantitative easing plans Thursday.

Source : Bloomberg

U.S. Stocks Fall, Dollar Strengthens Amid Data; Euro Weakens

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U.S. stocks fell a second day, while the dollar rallied as investors assessed jobs and services data for clues on the timing of higher interest rates. The euro weakened to an 11-year low and metals sank.

The Standard & Poor’s 500 Index dropped 0.4 percent at 12:30 p.m. in New York after closing Monday at a record. The Stoxx Europe 600 Index halted a two-day slide, while Europe’s shared currency slid to as low as $1.1098, the weakest since September 2003. The yield on 10-year Treasury notes rose one basis point to 2.13 percent. The Bloomberg Dollar Spot Index jumped 0.4 percent. Crude slid after supplies gained more than estimates.

About four stocks retreated for every one that rose in the S&P 500 as nine of the index’s 10 main groups fell. Companies added fewer workers to payrolls in February, according to the ADP Research Institute data showed before Friday’s government jobs report. Service industries unexpectedly expanded at a faster pace in February. The euro extended its drop before a European Central Bank policy meeting on Thursday.

Source : Bloomberg

European Stocks Advance in Late-Day Jump With Lenders Rebounding

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A bank rally helped push European equities higher after a two-day decline.

The Stoxx Europe 600 Index added 0.6 percent to 389.9 at the close in London, with equities beginning a rally in the last two hours of trading. Standard Chartered Plc led lenders higher as it rose to its highest price since October. The broad benchmark gauge earlier slipped as much as 0.2 percent after an index tracking euro-area manufacturing and services increased less than forecast.

Investors are waiting for Thursday’s European Central Bank meeting for details about the quantitative-easing program announced in January. The ECB will also give its first growth and inflation forecasts for 2017 for clues on the duration of the plan. The central bank’s move sparked a rally of almost 15 percent in the Stoxx 600 this year through the end of February.

A final reading of a Purchasing Managers Index for the manufacturing and services industries across the euro zone rose to a seven-month high of 53.3 in February from 52.6 the previous month, Markit Economics said. Another release showed January retail sales in the region climbed more than estimated.

Source: Bloomberg