US stocks dip while Trump says will decide on reopening economy
US stock market ended mixed on Monday as President Trump said he’d soon make a decision “in conjunction” with governors on reopening states. The S&P 500 lost 1% to 2761.63. Dow Jones industrial fell 1.4% to 23390.77 led by 8.7% drop in Caterpillar after Bank of America downgraded it to underperform from neutral. The Nasdaq however gained 0.5% to 8192.42 led by 6% jump in Amazon. The dollar weakening halted as Treasury insisted on loans, not cash grants for $25 billion in airline industry aid: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, added 0.2% to 100.77 but is lower currently. Futures point to higher openings today.
European markets reopen today
European stock markets will reopen today after Easter Monday holiday. The EUR/USD reversed climbing yesterday unlike GBP/USD , with both pairs higher currently. German health minister said yesterday the country was considering steps to return to a ‘new normal.’ Spain lifted some coronavirus lockdown measures while Italy recorded lowest daily deaths since March.
Nikkei leads Asian indexes rebound
Asian stock indices are higher today as investors continue to watch for signs that the coronavirus outbreak may be leveling off. Nikkei jumped 3.1% to 19631.15 as yen slowed its climb against the dollar. Markets in China are rising despite report China’s exports fell further in March amid coronavirus shutdowns: the Shanghai Composite Index is up 1.2% and Hong Kong’s Hang Seng Index is 0.7% higher. Australia’s All Ordinaries Index advanced 1.9% as Australian dollar’s climb against the greenback continued.
Brent rebounds
Brent futures prices are extending gains today. Members of the Organization of Petroleum Exporting Countries and its allies, collectively known as OPEC+, agreed Sunday to cut crude oil production by 9.7 million barrels a day starting on May 1 through June 30 of this year. Mexico had initially blocked the deal but President Trump intervened agreeing that the US will compensate what Mexico cannot add to the proposed cuts. June Brent crude closed 0.8% higher at $31.74 a barrel on Monday.
Gold advances as Dollar resumes weakening
Gold prices are extending gains today. June gold rose 0.5% to $1761.40 an ounce on Monday .
US stock market ended mixed on Monday as President Trump said he’d soon make a decision “in conjunction” with governors on reopening states. The S&P 500 lost 1% to 2761.63. Dow Jones industrial fell 1.4% to 23390.77 led by 8.7% drop in Caterpillar after Bank of America downgraded it to underperform from neutral. The Nasdaq however gained 0.5% to 8192.42 led by 6% jump in Amazon. The dollar weakening halted as Treasury insisted on loans, not cash grants for $25 billion in airline industry aid: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, added 0.2% to 100.77 but is lower currently. Futures point to higher openings today.
European markets reopen today
European stock markets will reopen today after Easter Monday holiday. The EUR/USD reversed climbing yesterday unlike GBP/USD , with both pairs higher currently. German health minister said yesterday the country was considering steps to return to a ‘new normal.’ Spain lifted some coronavirus lockdown measures while Italy recorded lowest daily deaths since March.
Nikkei leads Asian indexes rebound
Asian stock indices are higher today as investors continue to watch for signs that the coronavirus outbreak may be leveling off. Nikkei jumped 3.1% to 19631.15 as yen slowed its climb against the dollar. Markets in China are rising despite report China’s exports fell further in March amid coronavirus shutdowns: the Shanghai Composite Index is up 1.2% and Hong Kong’s Hang Seng Index is 0.7% higher. Australia’s All Ordinaries Index advanced 1.9% as Australian dollar’s climb against the greenback continued.
Brent rebounds
Brent futures prices are extending gains today. Members of the Organization of Petroleum Exporting Countries and its allies, collectively known as OPEC+, agreed Sunday to cut crude oil production by 9.7 million barrels a day starting on May 1 through June 30 of this year. Mexico had initially blocked the deal but President Trump intervened agreeing that the US will compensate what Mexico cannot add to the proposed cuts. June Brent crude closed 0.8% higher at $31.74 a barrel on Monday.
Gold advances as Dollar resumes weakening
Gold prices are extending gains today. June gold rose 0.5% to $1761.40 an ounce on Monday .
