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US stocks fall after two-day rally

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New York: US stocks traded mostly lower in the morning session on Friday, after two-day market rally, as global financial volatility continued to weigh on investors’ sentiment. At midday, the Dow Jones Industrial Average lost 68.68 points (0.41 percent), to 16,586.09. The S&P 500 dropped 5.66 points (0.28 percent), to 1,982.00. The Nasdaq Composite Index was down 10. 03 points(0.21 percent), to 4,802.67. Chinese stocks recovered more than 10 percent in two days after a five-day losing streak that wiped out a fifth of the market value.

Traders work on the floor of the New York Stock Exchange shortly before the closing bell in New York August 27, 2015. REUTERS/Lucas Jackson
www.reuters.com

The benchmark Shanghai Composite Index climbed 4.82 percent to close at 3,232.35 points on Friday, following a 5.34-percent rebound the previous day. But European trade was cautious on Friday with markets narrowly lower as investors remained cautious. On the economic front, US personal income increased 0.4 percent, and disposable personal income rose 0.5 percent, in July, according to the US Commerce Department on Friday. The same month has also seen the world’s largest economy’s personal consumption expenditures increase 0.3 percent after an upwardly revised 0.3 percent rise in June.

Meanwhile, the final reading of the University of Michigan’s consumer sentiment index came in at 91.9 for August, well below market estimates. Some analysts said recent data points to a possible interest rate hike this year. The US Commerce Department on Thursday revised its estimate for the real gross domestic product (GDP) in the second quarter to a growth of 3.7 percent, which is much higher than the 0.6-percent growth in the first quarter and which has triggered a jump in US stocks that day.

(IANS)

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US, Britain Step Up In Order to Tackle Female Genital Mutilation

The mutilation of girls’ external genitals for non-medical reasons is practiced across Africa, the Middle East and Asia. It also affects immigrant communities in Europe and the U.S.

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Female Genital Mutilation
A badge reads "The power of labor against FGM" is seen on a volunteer during a conference on International Day of Zero Tolerance for Female Genital Mutilation (FGM) in Cairo, Egypt, Feb. 6, 2018. (VOA)

Authorities in the U.S. and Britain are stepping up cooperation to tackle female genital mutilation, staging joint operations at airports in London, New York and elsewhere to raise awareness of an issue that affects millions of girls and women worldwide.

Police and border security agencies on both sides of the Atlantic have signed a new agreement to share intelligence about when and where victims may be taken for the procedure, known as FGM, and help identify perpetrators.

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In the past week, officials also targeted travel hubs including Heathrow, JKF airport and Eurostar stations, approaching people traveling from countries where the practice is common and encouraging them to report any concerns.

The mutilation of girls’ external genitals for non-medical reasons is practiced across Africa, the Middle East and Asia. It also affects immigrant communities in Europe and the U.S. (VOA)

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