US stocks end week slightly lower

June 17, 2019

By IFCMarkets

Dollar strengthening accelerates on US retail sales report

US stock market ended marginally lower on Friday led by technology shares. The S&P 500 slid 0.2% to 2886.98, adding 0.5% for the week. Dow Jones industrial slipped 0.1% to 26089.61. The Nasdaq lost 0.5% to 7796.66. The dollar accelerated strengthening as data showed retail sales grew 0.5% in May, while sales were revised to 0.3% growth in April after an initial estimate of 0.2% decline. 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 0.5% to 97.55 but is lower currently. Futures on US stock indices point to higher openings today.

DAX 30 led European indexes losses

European stocks pulled back on Friday. Both the GBP/USD and EUR/USD accelerated their slide but are higher currently. The Stoxx Europe 600 Index lost 0.6% Friday. The DAX 30 slumped 0.6% to 12096.40. France’s CAC 40 slipped 0.2% and UK’s FTSE 100 slid 0.3% to 7345.78.

EU50 is testing MA(50)   06/17/2019 Market Overview IFC Markets chart

Hang Seng the leader among Asian indexes

Asian stock indices are mixed today. Nikkei added 0.03% to 21124.00 with yen slide against the dollar intact. China’s markets are gaining after data showed last Friday industrial output and investment growth slowed in May: the Shanghai Composite Index is up 0.2% and Hong Kong’s Hang Seng Index is 0.5% higher. Australia’s All Ordinaries Index however pulled back 0.4% as the Australian dollar turned higher against the greenback.

Get our Weekly Commitment of Traders Report: - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.

Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter

Brent slips

Brent futures prices are edging lower today. Prices ended higher on Friday despite International Energy Agency downgrade of tis 2019 forecast for global oil demand: Brent for August settlement rose 1.1% to close at $62.01 a barrel Friday, falling 2% for the week.

Market Analysis provided by IFCMarkets

This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.