Dow, SP500 rebound into positive territory for 2018
US stock market pared most of previous session losses on Thursday on upbeat corporate reports. The S&P 500 rose 1.2% to 2705.57. Dow Jones industrial average gained 1% to 24983. Both Dow and SP500 reemerged into positive territory for 2018 after Wednesday’s rout wiped all of their year-to-date gains. The Nasdaq composite jumped 3% to 7318.34. The dollar strengthening slowed on widening of the goods trade deficit while durable goods orders increased 0.8% in September when a decline was expected: 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, gained 0.2% to 96.567 and is higher currently. Futures on stock indices indicate higher openings today.
DAX 30 opens lower than other European indices
European stocks rebounded after six-session losing streak. The European Central Bank reaffirmed its plan to end the asset buying program in December provided data show inflation remains on track to meet its target. The ECB left interest rates unchanged. Both the EUR/USD and GBP/USD continued falling but are higher currently. The Stoxx Europe 600 index gained 0.5%. Germany’s DAX 30 rose 1% to 11307.12. France’s CAC 40 rallied 1.6% and UK’s FTSE 100 added 0.6% to 7004.10. Indices opened 0.6% - 1.1% lower today.
Hang Seng leads Asian indices losses
Asian stock indices are mostly lower today as unsettled US-China trade dispute remained in focus while recent sharp declines on Wall Street bruised global market sentiment. Nikkei lost 0.4% to 21184.60 as yen resumed climbing against the dollar. Chinese stocks are lower as the US said it would refuse to resume trade negotiations with China until Beijing comes up with a concrete proposal to address Washington’s complaints about forced technology transfers and other issues: theShanghai Composite Index is 0.2% lower and Hong Kong’s Hang Seng Index is down 1.3%. Australia’s All Ordinaries Index ticked up 0.02% as Australian dollar turned lower against the greenback.
Brent lower
Brent futures prices are slipping today as Saudi Arabia warned of oversupply amid a slump in global equities markets. Prices ended higher yesterday after a report US domestic crude inventories rose while domestic gasoline stockpiles posted a drop that was three times bigger than expected: Brent for December settlement closed 1% higher at $76.89 a barrel on Thursday.
US stock market pared most of previous session losses on Thursday on upbeat corporate reports. The S&P 500 rose 1.2% to 2705.57. Dow Jones industrial average gained 1% to 24983. Both Dow and SP500 reemerged into positive territory for 2018 after Wednesday’s rout wiped all of their year-to-date gains. The Nasdaq composite jumped 3% to 7318.34. The dollar strengthening slowed on widening of the goods trade deficit while durable goods orders increased 0.8% in September when a decline was expected: 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, gained 0.2% to 96.567 and is higher currently. Futures on stock indices indicate higher openings today.
DAX 30 opens lower than other European indices
European stocks rebounded after six-session losing streak. The European Central Bank reaffirmed its plan to end the asset buying program in December provided data show inflation remains on track to meet its target. The ECB left interest rates unchanged. Both the EUR/USD and GBP/USD continued falling but are higher currently. The Stoxx Europe 600 index gained 0.5%. Germany’s DAX 30 rose 1% to 11307.12. France’s CAC 40 rallied 1.6% and UK’s FTSE 100 added 0.6% to 7004.10. Indices opened 0.6% - 1.1% lower today.
Hang Seng leads Asian indices losses
Asian stock indices are mostly lower today as unsettled US-China trade dispute remained in focus while recent sharp declines on Wall Street bruised global market sentiment. Nikkei lost 0.4% to 21184.60 as yen resumed climbing against the dollar. Chinese stocks are lower as the US said it would refuse to resume trade negotiations with China until Beijing comes up with a concrete proposal to address Washington’s complaints about forced technology transfers and other issues: theShanghai Composite Index is 0.2% lower and Hong Kong’s Hang Seng Index is down 1.3%. Australia’s All Ordinaries Index ticked up 0.02% as Australian dollar turned lower against the greenback.
Brent lower
Brent futures prices are slipping today as Saudi Arabia warned of oversupply amid a slump in global equities markets. Prices ended higher yesterday after a report US domestic crude inventories rose while domestic gasoline stockpiles posted a drop that was three times bigger than expected: Brent for December settlement closed 1% higher at $76.89 a barrel on Thursday.