Three main US indexes edged up to fresh records

IFC Markets

Master Trader
Oct 31, 2012
London (Great Britain)
Dollar strengthening intact
US stock market extended gains on Friday despite mixed data. The S&P 500 rose 0.4% to 3329.62, more than doubling its weekly gain to 2.0%. Dow Jones industrial added 0.2% to 29348. The Nasdaq gained 0.3% to 9388.94. The dollar strengthening accelerated as housing starts rose 16.9% in December while industrial production fell 0.3%. 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 0.3% to 97.61 and is higher currently. Futures in stock indexes point to lower openings today.

SP500 rising above MA(200) 1/20/2020 Market Overview IFC Markets chart

European stock indexes rebounded
European stocks rebounded on Friday after EU Trade Commissioner said he had a good exchange of views with US Trade Representative in Washington. GBP/USD joined EUR/USD’s continuing slide on Friday with euro turning higher currently and Pound lower still. The Stoxx Europe 600 Index recovered 1%. The DAX 30 gained 0.7% Friday to 13526.13. France’s CAC 40 rose 1% and UK’s FTSE 100 advanced 0.9% to 7674.56.

Shanghai Composite leads Asian Indexes gains
Asian stock indices are mostly higher today. Nikkei edged up 0.2% to 24083.51 despite resumed yen climb against the dollar ahead of Bank of Japan’s two-day policy meeting. China’s markets are mixed: the Shanghai Composite Index is 0.7% higher while Hong Kong’s Hang Seng Index is down 0.9%. Australia’s All Ordinaries Index extended gains 0.2% with Australian dollar climb against the greenback resuming.

Saudi Aramco slips while Brent gains
Brent futures prices are extending gains today. Prices rose on Friday: Brent for March settlement added 0.4% to $64.85 a barrel Friday. Saudi Aramco shares are down currently 0.2% to 34.30 riyals as they continue trading on country’s Tadawul exchange. After the company sold 450 million more shares to investors as part of overallotment option (following 3 billion shares sales at 32 Saudi riyals ($8.53) each at the IPO that netted $25.6 billion ), Saudi Aramco has sold 3.45 billion shares, raising the company’s public stake to 1.725% and raising its IPO earnings to $29.4 billion.

Gold rebounds
Gold prices are inching higher after closing lower last week. February gold slid 0.2% to 1550.50 on Friday.