Nasdaq tests 50-day moving average
US stock market advanced second straight session on Wednesday led by financial shares after upbeat bank earnings reports. The S&P 500 gained 0.2% to 2616.10. The Dow Jones industrial average advanced 0.6% to 24207.16. Nasdaq composite index added 0.2% to 7034.69, closing above 50-day moving average. The dollar strengthening continued as home builder confidence rebounded from a three-year low in January: 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 96.065 and is higher currently. Stock index futures point to lower openings today.
Brexit deal rejected by UK parliament
European stocks extended gains on Wednesday led by banking shares. EUR/USD continued falling while GBP/USD turned higher ahead of Brexitr deal vote with both pairs lower currently. The Stoxx Europe 600 closed 0.5% higher. Germany’s DAX 30 rose 0.4% to 10931.24, France’s CAC 40 gained 0.5% while UK’s FTSE 100 lost 0.5% to 6862.68. Prime minister May’s brexit proposal was voted down in Parliament and the UK government narrowly survived a no-confidence vote.
Australian stocks rise while other Asian indices fall
Asian stock indices are mixed today. Nikkei slipped 0.2% to 20402.27 as yen climb against the dollar resumed. China’s stocks are falling after reports US prosecutors were investigating China’s Huawei Technologies for allegedly stealing trade secrets from American companies: the Shanghai Composite Index is down 0.4% while Hong Kong’s Hang Seng Index is 0.5% lower. Australia’s All Ordinaries Index extended gains 0.3% as the Australian dollar slide against the greenback endured.
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Brent down despite US crude stocks dip
Brent futures prices are lower today. Prices rallied yesterday buoyed by the Energy Information Administration reports US crude stockpile fell 2.7 million barrels last week though domestic output rose. March Brent crude rallied 1.1% to $61.32 a barrel on Wednesday.
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