Spot gold dropped 1.5% to $1,990.68 an ounce. Gold prices slid in opposition to the rising dollar. crude edged down 0.35% to settle at $70.86 per barrel, and Brent settled at $74.91 per barrel, down 0.43% on the day. Oil prices dipped as weaker-than-expected economic data in both the United States and China shot down a higher global demand forecast from the International Energy Agency (IEA). The Japanese yen weakened 0.14% versus the greenback at 136.32 per dollar, while sterling was last trading at $1.2482, down 0.36%. The dollar index rose 0.2%, with the euro down 0.1% to $1.0861. The greenback inched higher against a basket of world currencies after the retail sales data showed underlying signs of consumer resiliency as focus shifted to the wrangling over the debt ceiling in Washington. The 30-year bond last fell 10/32 in price to yield 3.8601%, from 3.842% late on Monday. Treasury yields continued to rise on the heels of economic data, which suggest economic resilience despite the Federal Reserve's restrictive policy.īenchmark 10-year notes last fell 7/32 in price to yield 3.5339%, from 3.508% late on Monday. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) closed 0.14% lower, while Japan's Nikkei (.N225) rose 0.73%. The pan-European STOXX 600 index (.STOXX) lost 0.42% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) shed 0.54%.Įmerging market stocks rose 0.05%. retail sales data stoked worries about softer consumer spending. The Dow Jones Industrial Average (.DJI) fell 336.46 points, or 1.01%, to 33,012.14, the S&P 500 (.SPX) lost 26.38 points, or 0.64%, to 4,109.9 and the Nasdaq Composite (.IXIC) dropped 22.16 points, or 0.18%, to 12,343.05.Įuropean shares ended lower as downbeat earnings and the U.S. "We have a cautious outlook for the year, but so far we've made it through the first quarter with consumer spending fairly robust and corporate profits not as bad as expected," Hainlin said. However, a core measure of retail sales suggested the American consumer continues to bolster the economy. home improvement chain, combined with weaker-than-expected retail sales data suggested consumer spending is losing some momentum as restrictive monetary policy dampens demand. "It's just the timeline is more compressed this time, and these negotiations play out in the public sphere, and that leads to increasing volatility until we get to an agreement."ĭisappointing results from Home Depot (HD.N), the largest U.S. "There is a question whether there's enough time to get a full deal done rather than a temporary extension, but it doesn't mean they can't come to an agreement in a few weeks," said Tom Hainlin, national investment strategist at U.S. The Golden Knights, who overcame losing starting goaltender Laurent Brossoit to a lower-body injury midway through the first period, boast a 2-1 edge in the best-of-seven series. debt ceiling to avoid a catastrophic default in the face of a looming deadline. President Joe Biden and House of Representatives Speaker Kevin McCarthy met to try to hammer out details of an agreement to raise the U.S. stock indexes ended down, the tech-heavy Nasdaq's losses were held in check by momentum megacaps including (AMZN.O), Alphabet Inc (GOOGL.O) and Microsoft Corp (MSFT.O). stocks closed lower on Tuesday and benchmark Treasury yields extended their rise as mixed economic data, weak corporate results and ongoing debt ceiling negotiations in Washington dampened investor risk appetite. In January, businessman Doug King became the new owner of the club with the team sitting 15th in the table.HONG KONG, May 16 (Reuters) - U.S. They can become the first team to go from the Premier League down to the fourth tier and back up to the top flight should they join Burnley and Sheffield United who were promoted as Championship winners and runners-up.Ĭoventry came out of fourth-tier League Two via the playoffs in 2018 after one year and went on to win League One and reach the Championship two years later. May 17 (Reuters) - Coventry City reached the Championship playoff final after a second-half goal by Gustavo Hamer sealed a 1-0 win at Middlesbrough in their semi-final, second leg on Wednesday and a 1-0 aggregate victory.Ĭoventry will face Luton Town on May 27 for a place in next season's Premier League.Ĭoventry, who finished the regular season in fifth place and are looking to return to the Premier League for the first time since they were relegated in 2000-01, held fourth-placed Middlesbrough to a goalless draw in the first leg.
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