Dow, SP 500 post record closes
|Dollar weakens as inflation slows
US stock market rebound accelerated on Thursday as Powel reasserted Federal Reserve’s inclination to ease monetary policy against the background of lingering risks to global growth such as US-China trade dispute. The S&P 500 gained 0.2% to fresh record 2999.91. The Dow Jones industrial average rose 0.9% to new record 27088.08. Nasdaq composite index however slipped 0.1% to 8196.04. The dollar weakening continued as consumer price inflation fell to 1.6% from 1.8% in April: 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, slipped 0.03% to 97.07 and is lower currently. Stock index futures point to higher market openings today
European indexes slip as IMF calls for fresh stimulus
European stocks slide continued on Thursday after the International Monetary Fund called for fresh stimulus from the ECB. EUR/USD inched down while GBP/USD continued its slide with both pairs higher currently. The Stoxx Europe 600 index ended 0.1% lower. Germany’s DAX 30 lost 0.3% to 12332.12. France’s CAC 40 slipped 0.3% and UK’s FTSE 100 slid 0.3% to 7501.82.
Shanghai Composite leads Asian indexes
Asian stock indices are mostly rising today. Nikkei rose 0.2% to 21685.90 despite yen's resumed climb against the dollar. Chinese shares are gaining despite President Trump’s tweet on Thursday China was not living up to promises it made on buying US agricultural products: the Shanghai Composite Index is up 0.4% and Hong Kong’s Hang Seng Index is 0.2% higher. Australia’s All Ordinaries Index however slid 0.3% as Australian dollar accelerated its climb against the greenback.
Brent up as Tropical Storm Barry advances
Brent futures prices are edging higher today with half US Gulf Coast oil output shut down because of Tropical Storm Barry. Prices fell yesterday: September Brent crude lost 0.7% to $66.52 a barrel on Thursday.
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