Dollar strengthening resumes
US stock market rebounded on Monday as positive data supported confidence in US economic health. The S&P 500 gained 0.2% to 2637.72. Dow Jones industrial added 0.1% to 24423.26. The Nasdaq composite index rose 0.7% to 7020.52. The dollar turned sharply higher as US job openings rose to 7.08 million in October : 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, jumped 0.6% to 97.20 but is lower currently. Futures on stock indexes indicate higher openings today.
FTSE 100 slides less than other European indices
European stocks resumed retreating on Monday. The EUR/USD joined GBP/USD’s sharp slide with both currently rising. The Stoxx Europe 600 index lost 1.9%. The DAX 30 fell 1.5% to 10622.07 as Federal Statistical Office reported the trade surplus narrowed. France’s CAC 40 slumped 1.5% as the Bank of France said the French economy will grow slower than originally projected. UK’s FTSE 100 slid 0.8% to 6721.54 as Prime Minister May confirmed she would delay a parliamentary vote on her Brexit plan.
Australian stocks lead Asian indices gains
Asian stock indices are mostly higher today as US and China started the latest round of trade talks late Monday.Nikkei fell 0.3% to 21148.02 as yen‘s climb against the dollar resumed. Chinese shares are rising: the Shanghai Composite Index is up 0.3% while Hong Kong’s Hang Seng Index is 0.1% higher. Australia’s All Ordinaries Index pared some of previous session sharp losses as it rose 0.4% with Australian dollar climbing against the greenback.
Brent up after Libya outage
Brent futures prices are edging higher today as Libya's National Oil Company declared force majeure on exports from the El Sharara oilfield. Prices fell yesterday after a Friday rally on news of OPEC output cut agreement: February Brent crude fell 2.8% to $59.97 a barrel on Monday.
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