Global equities retreat persists

20/5/2019

SP500 falls despite strong data

US stock market snapped three session winning streak Friday despite positive data. The S&P 500 lost 0.6% to 2859.53, ending 0.8% lower for the week notwithstanding announcement US and Canada reached a deal to end tariffs on aluminum and steel products from Canada. Dow Jones industrial slid 0.4% to 25764. The Nasdaq fell 1% to 7816.28. The dollar strengthening continued on the University of Michigan report consumer sentiment rose to a 15-year high in May. 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, gained 0.7% to 97.97 and is higher currently. Futures on US stock indexes point to mixed openings today.

SP500 testing MA(50)  05/20/2019 Market Overview IFC Markets chart

DAX 30 underperforms other European indices

European stocks pulled back on Friday. Both the EUR/USD and GBP/USD continued sliding but are higher currently. The Stoxx Europe 600 Index fell 0.4% Friday. The DAX 30 lost 0.6% to 12238.94. France’s CAC 40 edged down 0.2% while UK’s FTSE 100 slipped 0.1% to 7348.62 weighed by news opposition Labour Party withdrew from talks due to deepening fractures in Prime Minister Theresa May’s government.

Australian stocks lead Asian indexes gains after conservatives' surprise election win

Asian stock indices are mixed today. Nikkei gained 0.2% to 21301.73 after surprisingly strong first-quarter economic growth while yen’s decline against the dollar continued. China’s markets are lower after reports Google revoked Huawei Technologies’ Android license: the Shanghai Composite Index is down 0.4% and Hong Kong’s Hang Seng Index is 0.5% lower. Australia’s All Ordinaries Index jumped 1.7% despite the Australian dollar climb against the greenback after governing conservative party looks set to form a majority government.

Brent rising

Brent futures prices are extending gains today. Prices ended higher on Friday : Brent for July settlement added 0.6% to close at $72.21 a barrel Friday, rising 2.3% for the week.




Note: 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.


Start trading with IFC Markets

We are ready to support you with any kind of questions, 24 hours a day.