SP500 gains sixth straight session

April 5, 2019

By IFCMarkets

Dollar strengthening resumes on initial claims data

US stock market advance continued on Thursday as president Trump tweeted US-China trade talks were “moving along nicely”. The S&P 500 gained 0.2% to 2879.39. The Dow Jones industrial average rose 0.6% to 26384.63 led by Boeing and Dow shares. Nasdaq composite index however slipped 0.05% to 7891.78. The dollar strengthening resumed as data showed initial jobless claims for unemployment benefits fell to 202,000, the lowest level since 1969,. 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 0.2% to 97.30 but is lower currently. Futures on US stock indexes point to higher openings today.

DJI breached resistance line above MA(200)  04/05/2019 Market Overview IFC Markets chart

DAX 30 rises while other European indices slide

European stocks ended lower on Thursday on reports Italy could cut 2019 GDP forecast. Both the EUR/USD and GBP/USD turned lower but are currently higher. The Stoxx Europe 600 index slid 0.3% led by basic resources stocks. Germany’s DAX 30 however edged up 0.3% to 11988.01. France’s CAC 40 slipped 0.1% and UK’s FTSE 100 lost 0.2% to 7401.94.

Nikkei leads Asian indices gains

Asian stock indices are mixed today as with progress in US-China trade talks in focus after Trump’s comment Thursday “we’ll know over the next four weeks” if the two countries have a deal. Nikkei ended 0.4% higher at 21807.50 with yen continuing its slide against the dollar. Chinese markets are closed for a holiday. Australia’s All Ordinaries Index fell 0.8% as Australian dollar’s climb against the greenback continued.


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Brent down

Brent futures prices are edging lower today. Prices gained yesterday: Brent for June settlement closed 0.1% higher at $69.40 a barrel on Thursday.

Market Analysis provided by IFCMarkets

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