U.S. stocks slipped on Thursday led by falls in financial shares and following weak Chinese economic data but a late-day rebound in oil prices limited the day's decline.
Financials, which have been under pressure following negative news on Deutsche Bank (DB.N) and Wells Fargo (WFC.N), were down ahead of quarterly results due Friday from Wells Fargo, JPMorgan Chase (JPM.N) and Citigroup (C.N). The S&P financial index .SPSY fell 1.1 percent.
The Dow Jones industrial average .DJI was down 45.26 points, or 0.25 percent, to 18,098.94, the S&P 500 .SPX lost 6.63 points, or 0.31 percent, to 2,132.55 and the Nasdaq Composite .IXIC dropped 25.69 points, or 0.49 percent, to 5,213.33.
Asian stocks gained after data showed inflation in China beat expectations, boosting optimism about the strength of the world’s second-largest economy. Thailand’s market will be closely watched following the death of King Bhumibol Adulyadej, the world’s longest-reigning monarch.
The MSCI Asia Pacific Index added 0.2 percent to 138.16 as of 10:52 a.m. in Tokyo, erasing earlier declines of as much as 0.2 percent.
The baht surged 1.3 percent to 35.17 per dollar as of 8:08 a.m. in Bangkok, heading for the biggest gain since Oct. 9, 2015. The local stock market had rebounded with the currency on Thursday, closing higher before the king’s death was announced, while the iShares MSCI Thailand Capped ETF climbed by the most since February in the U.S.
Reference : Reuters, Bloomberg
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