US stocks edge higher

Dmitry Lukashov IFC Markets

Dollar strengthening decelerates

US stock market resumed advancing on Monday led by technology shares. The S&P 500 gained 0.3% to 2985.03. Dow Jones industrial added 0.1% to 27171.9. The Nasdaq composite rose 0.7% to 8204.14. The dollar strengthening decelerated: 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, added 0.2% to 97.28 and is higher currently. Stock index futures point to higher market openings today

CAC 40 outperforms European indexes

European stocks ended little changed on Monday as companies reported mixed quarterly results. Both GBP/USD and EUR/USD continued their slides and are down currently as European Union trade official said EU sought to work with Washington to reform the World Trade Organization and cooperate on common challenges to global trade, but will retaliate if Washington makes good on its threat to raise car tariffs. The Stoxx Europe 600 index ended flat. The DAX 30 added 0.2% to 12289.40. France’s CAC 40 rose 0.3% and UK’s FTSE 100 edged up 0.1% to 7514.93.

Nikkei leads Asian indexes rebound

Asian stock indices are recovering today after reports U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin would travel to Beijing next week to resume trade negotiations with China. Nikkei closed 1% higher at 21620.88 as yen slide accelerated against the dollar. Markets in China are rising buoyed also by news President Donald Trump had agreed to make “timely” licensing decisions for U.S. tech companies seeking to renew sales with Huawei: the Shanghai Composite Index is up 0.4% while Hong Kong’s Hang Seng Index is 0.2% higher. Australia’s All Ordinaries Index rebounded 0.5% as Australian dollar continued its slide against the greenback.

Brent rising

Brent futures prices are edging higher today as traders watch for developments in the Strait of Hormuz after Iran seized a British tanker last week. Prices rose yesterday: September Brent crude gained 1.3% to $63.26 a barrel on Monday.

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Author

Dmitry Lukashov

IFC Markets

Dimtry Lukashov is the senior analyst of IFC Markets. He started his professional career in the financial market as a trader interested in stocks and obligations.

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