U.S. stocks declined, logging their worst monthly losses in years in August, driven by concerns over China and the timing of a U.S. interest rate rise. U.S. government bonds and gold prices pulled back on the prospect of upbeat economic data and tighter Federal Reserve policy. The dollar fell on rising concerns over global growth and inflation. Oil prices soared on doubts that the global glut of crude would be as long-lasting as many investors and traders had earlier believed.
The Dow posted a monthly loss of about 6.6%, its largest since May 2010.
The dollar retreated against the euro and the yen in August as rising concerns over global growth and inflation moved investors to push back expectations for higher U.S. interest rates and exit from some of their large consensus trades.
Investors began shedding some of their long-dollar bets against the euro and the yen after China devalued its currency on Aug. 11 and later reported soft economic data, both of which signaled that its economy might be slowing more than thought. Markets feared lower Chinese demand for raw materials and slowing trade with much of Asia and the world would increase downward pressure on inflation across the globe.
U.S. government bonds ended a volatile month with a whimper as priced pulled back on the prospect of upbeat economic data and tighter Federal Reserve policy.
The Treasurys market chipped away at gains throughout the session as typical month-end buying gave way to renewed focus on the U.S. economy, bond traders said.
Civeo Corporation (Canada) (NYSE:CVEO)finished last trade at $1.94, lose-0.51%. Trading volume recorded for this company was about 3,570.00 shares as compared to its average volume of 1.97million shareswhile its 52 week high is $26.13. The company has the total of 107.46million outstanding shares while its market capitalization is now about $209.55million.Civeo Corporation (Canada) (NYSE:CVEO)announced financial results for the second quarter ended June 30, 2015.Bradley J. Dodson, President and Chief Executive Officer of Civeo, said, “Civeo’s second quarter results reflect the benefits of our cost containment strategy, better than anticipated Australian occupancy rates and increased U.S. manufacturing sales. Through our team’s continued dedication and efforts, Civeo delivered good cash flows in light of the challenged operating environment and maintained a disciplined approach to capital spending.”
Pioneer Energy Services Corp. (NYSE:PES)closed at $ 3.31, up 6.09%, on volume of over 1,349,334 shares. The company has an average trading volume of 1,244,800shares. Its market capitalization was $213.48Million.Pioneer Energy Services Corp. (NYSE:PES)through its subsidiaries, provides drilling services and production services to oil and gas exploration and production companies in the United States and Colombia. The company’s Drilling Services Segment provides contract land drilling services in Texas, North Dakota, Utah, Appalachia, and Colombia. As of February 1, 2015, this segment operated a fleet of 47 drilling rigs.
Basic Energy Services, Inc. (NYSE:BAS) traded with -0.19% lost momentumto $5.20in the latest trading session It captured $222.10Million in market value. The total number of shares traded on the latest trading day was about 7,405 shares. Basic Energy Services, Inc. (NYSE:BAS)presents well site services to oil and natural gas drilling and producing companies in the United States. Its Completion and Remedial Services segment offers pumping services, such as cementing, acidizing, fracturing, nitrogen, and pressure testing; rental and fishing tools; coiled tubing; snubbing services; thru-tubing; cased-hole wireline services; and underbalanced drilling in low pressure and fluid sensitive reservoirs.