US Stocks fall erasing early gains - Nirmal Bang

U.S. stocks fell, erasing earlier gains, as the S&P's 500 Index failed to hold above its average level from the past 50 days and investors awaited a monthly jobs report and the start of corporate earnings.

Asian stocks dropped for the first time in six days after resources companies retreated as metals prices slid overnight, and a gauge of non-manufacturing industries in China added to signs of an economic slowdown.

Sensex retreated from one-month high levels to as overseas investors booked profits in bluechips including Infosys, RIL and HDFC Bank after 3 straight days of gains. Signs of fresh offloading of positions by foreign funds, weak trading in European markets and some fag-end depreciation in rupee also affected investor sentiment. Market is expected to open on a lower note and likely to remain under pressure during the day.

Source : Equity Bulls

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