Nasdaq notches record finish - 24.1.2020

Dollar strengthening continues

US stock market had another choppy session on Thursday as investors worried about negative impact of coronavirus infection in China. The S&P 500 gained 0.1% to 3325.50. The Dow Jones industrial average extended losses 0.1% to 29160.09. Nasdaq composite index added 0.2% to 9402.48. The dollar weakening reversed as layoffs remained near a 50-year low though the number of people applying for first time jobless benefits rose by 6,000 to 211,000 last week: 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 0.2% to 97.67 and is higher currently. Futures on stock indexes point to higher openings today.

DAX led European indexes retreat after dovish ECB statement

European stocks extended losses on Thursday. Both the GBP/USD and EUR/USD reversed their climbing yesterday with Pound turning higher currently while euro lower still. The Stoxx Europe 600 index broadened it decline to 0.7% as European Central Bank (ECB) President Christine Lagarde’s said the risks for euro-zone economy were still “tiled to the downside.” The ECB held its interest rates steady Thursday and launched a strategic policy review to establish whether its inflation target is still appropriate. Germany’s DAX 30 fell 0.94% to 13388.42. France’s CAC 40 slid 0.65% while UK’s FTSE 100 lost 0.85% to 7507.67.

NIKKEI above MA(200) 1/24/2020 Market Overview IFC Markets chart

Nikkei leads Asian indexes recovery

Asian stock indices are mostly higher today. Nikkei ended up 0.1% at 23827.18 with yen little changed against dollar. Markets in China are closed ahead of the Lunar New Year starting Saturday. Hong Kong’s Hang Seng Index is 0.03% lower. Australia’s All Ordinaries Index recovered 0.04% with Australian dollar flat against the greenback.

Brent up as US inventories fall

Brent futures prices are rebounding today. Prices ended lower yesterday: March Brent crude lost 1.9% to $62.04 a barrel on Thursday. Energy Information Administration data revealed that US crude supplies fell by 400,000 barrels last week. The report was released a day later than usual because of Monday’s Martin Luther King Jr. holiday.