US stocks log first gains in 2019
|Dollar strengthens despite Manufacturing PMI miss
US stock market advanced on the first trading day of 2019 in a volatile session on Wednesday while President Trump and Democrat leaders of Congress didn’t make a progress on budget disagreement over Wall financing that has resulted in partial government shutdown. The S&P 500 gained 0.1% to 2510.03. The Dow Jones industrial average added 0.1% to 23346.24. Nasdaq composite index rose 0.5% to 6665.94. The dollar weakening reversed despite data showed US Manufacturing Purchasing Manager’s Index came in at 53.8 for December instead of 53.9 as expected. 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 96.67 but is lower currently. Stock index futures point to lower openings today.
CAC 40 falls while other European indices gain
European stock markets ended first 2019 trading session slightly lower. Both GBP/USD and EUR/USD gave back previous session gains but are higher currently. The Stoxx Europe 600 closed 0.1% lower. Germany’s DAX 30 added 0.2% to 10580.19, France’s CAC 40 fell 0.9% and UK’s FTSE 100 edged up 0.1% to 6734.23. Futures indicate lower openings today.
Australian stocks rise after currency crash
Asian stock indices are mixed today after Apple’s 9% overnight downgrade of its quarterly sales projections citing slowing Chinese growth. Markets in Japan are closed for holiday while yen slid against the dollar after a steep climb overnight. China’s stocks are falling led by technology: the Shanghai Composite Index is down 0.04% and Hong Kong’s Hang Seng Index is 0.2% lower. Australia’s All Ordinaries Index however gained 1.4% as the Australian dollar resumed climb against the greenback after a sharp fall overnight to multi-year lows attributed to automated selling.
Brent slips
Brent futures prices are lower today. Prices ended higher yesterday buoyed by a reported drop in December crude exports from Saudi Arabia: February Brent crude rallied 2.1% to $54.91 a barrel on Wednesday.
Want to get more free analytics? Open Demo Account now to get daily news and analytical materials.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.