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Stocks fall as Nasdaq continues losing streak



Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., October 4, 2017. REUTERS/Brendan McDermid
work on the floor of the NYSE in New York

Thomson Reuters

Stocks fell Monday, with the Nasdaq declining for a
third-straight session, as FANG stocks remained under pressure
following a wave of
disappointing tech earnings
. The dollar
retreated against a basket of peers ahead of multiple major
central bank meetings this week, and Treasury yields jumped.

Here’s the scoreboard:

Dow Jones industrial

 25,307.94 −143.12


 2,801.36 −17.46

7,630.00 −107.42 (-1.39%)

  1. President Donald Trump said he would meet Iranian
    President Hassan Rouhani
    anytime and free of any preconditions
    The remark,
    made to reporters at a joint White House press conference with
    Italian Prime Minster Giuseppe Conte, follows a week
    of rapidly
    escalating tensions between the US and Iran
    . The two
    leaders exchanged veiled threats last week, with Rouhani saying
    a US-Iran conflict would be the “mother of all wars”
    and Trump promising dire “consequences.”
  2. Secretary of State Mike Pompeo announced
    plans to “deepen engagement”
    in emerging
    Speaking at the US Chamber of Commerce, he
    said the US will pursue a $113 million initiative to expand
    infrastructure, energy and technology investments there. The
    announcement comes amid a trade battle between the US and
    China, which has also been aggressively pursuing development
    projects in the region.
  3. Pending home sales in the US
    unexpectedly rose last month
    The number of
    contracts to buy previously-owned homes increased 0.9%,
    according to the National Realtors Association, after two
    months of decline. 
  4. Earnings season rolls on. Caterpillar
    crushed earnings expectations, posting a record profit in the
    second quarter. Netflix fell
    into a bear market after
    failing to recover
    from posting disappointing revenue and
    subscriber numbers in mid-July.

And a look at the upcoming economic calendar:

  • Apple reports earnings Tuesday; Tesla, Volkswagen and BMW are
    slated for later this week.
  • The Federal Reserve, the Bank of Japan and the Bank of
    England hold policy meetings.
  • GDP estimates for the eurozone are out.

See also:

GOLDMAN SACHS: The stock market is hurtling toward disaster, and
only one thing can save it

There may be a simple way to profit if one of Wall Street’s most
feared recession signals is triggered soon

The stock market’s biggest bear calls out a huge investing
mistake that could have ‘brutal consequences’ — and explains how
it will cause the next market crash

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