All three US main indices snap 5-session streak

Discussion in 'Fundamental Analysis' started by IFC Markets, Jan 14, 2019.

  1. IFC Markets

    IFC Markets Master Trader

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    Dollar strengthening decelerates on slower inflation

    US stock market ended marginally lower on Friday. S&P 500 slipped 0.01% to 2596.23, closing 2.5% higher for the week. Dow Jones industrial average slid 0.02% to 23995.95. The Nasdaq lost 0.2% to 6971.48. The dollar strengthening slowed as data indicated inflation slowed to 1.9% in December from 2.2% in November: 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, rose 0.1% to 95.67 but is lower currently. Stock index futures point to lower openings today.

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    DAX 30 loss smaller than other European indices

    European stocks finished marginally higher on Friday. The EUR/USD continued falling while GBP/USD turned higher on reports of a likely Brexit delay with euro higher currently as Pound slips. The Stoxx Europe 600 Index inched up 0.1%, ending the week 1.7% higher. The DAX 30 lost 0.3% to 10887.46 led by auto-makers shares after reports Ford plans job custs and plant closures in Europe. France’s CAC 40 fell 0.5% and UK’s FTSE 100 slid 0.4% to 6918.18.


    Hang Seng leads Asian indices losses

    Asian stock indices are lower today as China reported weak trade data. Stock market in Japan is closed for a holiday while yen resumed its climb against the dolla . Chinese stocks are falling as Beijing reported slower exports: the Shanghai Composite Index is down 0.7% and Hong Kong’s Hang Seng Index is 1.6% lower. Australia’s All Ordinaries Index inched 0.02% lower despite the Australian dollar turn lower against the greenback.


    Brent rally snaps

    Brent futures prices are extending losses today. Prices ended lower on Friday: Brent for March settlement slid 2.0% to close at $60.48 a barrel Friday, rising 6% for the week.
     

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