SP500 notches third straight record high

IFC Markets

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Oct 31, 2012
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Dollar strengthening intact
US stocks record run continued on Monday supported by news China will cut import duties on more than 859 products starting January 1. The S&P 500 advanced 0.1% to third consecutive record close at 3224.01. Dow Jones industrial added 0.3% to 28551.53 boosted from 3% jump in Boeing shares on news CEO Muilenburg has resigned amid controversy surrounding its 737 Max jet. The Nasdaq edged up 0.2% to fresh record 8945.65. The dollar strengthening continued despite report orders for durable goods fell 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, added 0.01% to 97.67 and is higher currently. Wall Street will trade a shortened half-day Christmas Eve session today. Futures on US stock indices point to higher openings today.

FTSE 100 gains while DAX 30 slips
European stock markets performed mixed on Monday ahead of Christmas holidays. The EUR/USD reversed its decline yesterday while GBP/USD continued its slide with dynamics reversed currently. The Stoxx Europe 600 index slipped 0.01%. The DAX 30 slid 0.1% to 13300.98. France’s CAC 40 added 0.1% while UK’s FTSE 100 rose 0.5% to 7623.39.

Shanghai Composite Index leads Asian Indexes gains
Asian stock indices are mostly higher today. Nikkei rose 0.04% to 23830.58 as yen slowed its climb against the dollar. Markets in China are mixed: the Shanghai Composite Index is up 0.7% while Hong Kong’s Hang Seng Index is 0.2% loer. Australia’s All Ordinaries Index recovered 0.1% despite continued Australian dollar climb against the greenback.
AU200 testing MA(50) 12/23/2019 Market Overview IFC Markets chart


Brent up providing support to Aramco shares decline
Brent futures prices are edging higher today. Prices gained yesterday despite Russian Energy Minister’s comment OPEC+ may consider easing the output restrictions at a coming meeting in March: February Brent crude closed 0.4% higher at $66.39 a barrel on Monday. Saudi Aramco ‘s shares continue trading on the country’s Tadawul exchange. Shares declined 0.6% on Sunday, fourth decline in a row. Yesterday the Tadawul exchange data indicated foreign investors outside the Gulf countries were net buyers of about $950 million (about 3.56 billion riyals) worth of Saudi Aramco shares for the week ended December 19. Passive funds bought Aramco shares to comply with the index changes after the index compiler MSCI Inc. added Aramco to its emerging market index last Wednesday. However Aramco fell 3.5% last week.

Gold rises with dollar
Gold prices are extending gains today with February gold rising 0.5% Monday to a more than six-week high of $1,482.50.