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Fundamental Analysis
S&P 500 logs seven-session win streak
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[QUOTE="IFC Markets, post: 162571, member: 18359"] [SIZE=5][B]Dollar strengthens on strong jobs report[/B] [B][/B][/SIZE] [B]US stock market [/B]recovery accelerated on Friday as strong jobs data boosted market sentiment buoyed by US-China trade talks optimism. S&P 500 rose 0.5% to 2892.74, closing 2.1% higher for the week. [I]Dow Jones [/I]industrial gained 0.2% to 26424.99. The [I]Nasdaq [/I]advanced 0.6% to 7938.69. The dollar strengthening continued as March jobs report showed the US economy added above forecast 196,000 new jobs. 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, inched up 0.1% to 97.36 but is lower currently. Futures on US stock indexes point to lower openings today. [SIZE=5][B]FTSE 100 outperforms European Indices[/B] [B][/B][/SIZE] [B]European stocks [/B]recovered on Friday supported by strong US labor market and German data. Both the [I]EUR/USD[/I]and [I]GBP/USD[/I] continued their slide. Both pairs have reversed currently. The Stoxx Europe 600 Index added 0.1%. The [I]DAX 30 [/I]advanced 0.2% to 12009.75 as German industrial output rose more than expected in February. France’s [I]CAC 40 [/I]edged up 0.2% and UK’s FTSE 100 gained 0.6% to 7446.87. [SIZE=5][B]Hang Seng leads Asian indices gains[/B] [B][/B][/SIZE] [B]Asian stock indices[/B] are mixed today. [I]Nikkei [/I]lost 0.2% to 21761.65 with yen turning higher against the dollar. Chinese markets are mixed: the [I]Shanghai Composite Index [/I]is down 0.05% while Hong Kong’s [I]Hang Seng [/I]Index is 0.6% higher. Australia’s All Ordinaries Index is 0.7% higher as the Australian dollar continues its slide against the greenback. [IMG]https://ifccd.net/uploads/image/Nikkei_O_08April2019.png[/IMG] [SIZE=5][B]Brent up[/B] [B][/B][/SIZE] [B]Brent futures prices [/B]are extending gains today as fighting in Libya added to global crude oil supply tightening concerns. Prices rallied on Friday as traders worried about possible supply shortages due to US sanctions on Iran and Venezuela, as well as continued OPEC output curb despite a Baker Hughes report that the number of active US rigs drilling for oil rose by 15 to 831 last week: Brent for June settlement rose 1.4% to close at $70.34 a barrel Friday, gaining 4.1% for the week. [/QUOTE]
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