Main US indexes notch record closes again


Dollar strengthening stalls

US stock market closed at record highs again on Wednesday as new cases of coronavirus infection in China reported over the last 24 hours declined for a second day. The S&P 500 advanced 0.7% to fresh record 3379.45. The Dow Jones industrial average rose 0.9% to 29551.42. Nasdaq gained 0.9% to new record 9725.96. The dollar strengthening accelerated despite report US budget deficit rose more than expected in January. 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 0.3% to 99.0 but is lower currently. Futures on stock indexes point to lower openings today.

DAX 30 led European indexes recovery

European stocks ended at record highs on Wednesday despite weak data. EUR/USD declined yesterday while GBP/USD continued climbing with dynamics reversed for both pairs currently. The Stoxx Europe 600 ended up 0.6% led by auto shares despite report euro zone manufacturing output fell more than expected in December. Germany’s DAX 30 rose 0.9% to 13749.78. France’s CAC 40 advanced 0.8% while UK’s FTSE 100 added 0.5% to 7594.37.

DE30 rallies above MA(50) 2/13/2020 Market Overview IFC Markets chart

Shanghai Composite leads Asian indexes retreat

Asian stock indices are mostly lower today as China’s Hubei province reported sharply higher number of new coronavirus outbreak cases. Nikkei declined 0.1% to 23827.73 as yen resumed advancing against the dollar. Markets in China are down: Shanghai Composite Index is 0.7% lower while Hong Kong’s Hang Seng Index is losing 0.4% higher. Australia’s All Ordinaries Index however recovered 0.2% despite resumed Australian dollar decline against the greenback.

Brent edges down

Brent futures prices are lower today. Prices rebounded on Wednesday despite EIA report US crude oil inventories rose by bigger than expected 7.5 million barrels last week: April Brent added 3.3% to $55.79 on Wednesday.

Gold rises as Dollar weakens

Gold prices are extending gains while dollar inches down. The price of an ounce of gold for April delivery gained 0.1% to $1,571.60 Wednesday.

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.