Market Overview

US stock market inched lower on Tuesday after president Trump said an agreement on bilateral trade with China had ‘a long way to go’ despite strong economic data. The S&P 500 slid 0.3% to 3004.0. Dow Jones industrial slipped 0.1% to 27335.6. The Nasdaq lost 0.4% to 8222.8. The dollar strengthening accelerated as retail sales rose above expected 0.4% over month in June instead of forecast 0.1%: 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 0.5% to 97.37 and is higher currently. Stock index futures point to mixed market openings today

US stock market inched to third record closing on Monday as Citigroup results mark start of earnings season. The S&P 500 added less than 0.1% to 3014.30. Dow Jones industrial gained 0.1% to 27359.16. The Nasdaq composite rose 0.2% to 8258.19. The dollar resumed strengthening as data showed the New York Fed’s Empire State manufacturing index rebounded to 4.3 in July, from minus 8.6 in June : 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 0.1% to 96.916 and is higher currently. Stock index futures point to mixed market openings today

US stock market advance accelerated on Friday as Powell’s testimony reaffirmed expectations of a Fed rate cut at the end of month. The S&P 500 gained 0.5% to 3013.75, adding 0.8% for the week. Dow Jones industrial rallied 0.9% to fresh record 27332.10. The Nasdaq also ended higher, gaining 0.6% to 8244.14. The dollar weakening accelerated after report US wholesale prices inflation slowed to 2.1% from 2.3% 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, fell 0.3% to 96.797 and is lower currently. Stock index futures point to higher market openings today

US stock market rebound accelerated on Thursday as Powel reasserted Federal Reserve’s inclination to ease monetary policy against the background of lingering risks to global growth such as US-China trade dispute. The S&P 500 gained 0.2% to fresh record 2999.91. The Dow Jones industrial average rose 0.9% to new record 27088.08. Nasdaq composite index however slipped 0.1% to 8196.04. The dollar weakening continued as consumer price inflation fell to 1.6% from 1.8% in April: 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, slipped 0.03% to 97.07 and is lower currently. Stock index futures point to higher market openings today

US stock market extended gains on Wednesday after Powell testimony confirmed Federal Reserve plans a rate cut in July. The S&P 500 rose 0.5% to 2993.07. The Dow Jones industrial average gained 0.3% to 26860.20. Nasdaq composite index advanced 0.8% to record 8202.53. The dollar strengthening reversed as Powell comments emphasized rising risks to the US economy from trade policy and slowing global growth, as well as falling price inflation. 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, fell 0.4% to 97.10 and is lower currently. Stock index futures point to higher market openings today

US stock market ended mostly higher on Tuesday ahead of Powell’s two-day testimony to Congress starting today. The S&P 500 advanced 0.1% to 2979.63. Dow Jones industrial however slipped 0.1% to 26783.49. The Nasdaq rose 0.5% to 8141.73. The dollar strengthening continued at previous pace as investor anticipate an indication from Fed chair Powell the Federal Reserve still plans to implement a 25 basis point rate cut at July 30-31 meeting while a bigger cut is seen unlikely after stronger than expected June jobs re[port last Friday: 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 0.1% to 97.49 and is higher currently. Stock index futures point to lower market openings today

US stock market continued their retreat on Monday led by communication services and materials shares. The S&P 500 lost 0.5% to 2975.95. Dow Jones industrial slid 0.4% to 26806.14. The Nasdaq composite fell 0.8% to 8098.38. The dollar strengthening continued : 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 0.1% to 97.36 and is higher currently. Stock index futures point to lower market openings today

US stock market pulled back on Friday as strong jobs report dampened Fed rate cut expectations. The S&P 500 slid 0.2% to 2990.41, rebounding 1.7% for the week. Dow Jones industrial lost 0.2% to 26922.12. The Nasdaq slipped 0.1% to 8161.79. The dollar strengthened after report US economy created above-expected 224,000 new jobs in June, after 75,000 jobs created 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, jumped 0.5% to 97.22 but is lower currently. Stock index futures point to lower market openings today

US stock market will reopen today after Independence Day holiday. All three main US indexes logged record high closings on Wednesday. Futures on three main US stock indices indicate higher openings today. The dollar declined yesterday: 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, slipped 0.02% to 96.73 but is higher currently ahead of June jobs report which is expected to help make or break the case for a rate cut later in July.

US stock market closed at record on Wednesday in a short session ahead of July 4 holiday. The S&P 500 rose 0.8% to record 2995.82. The Dow Jones industrial average gained 0.7% to record high 26966. Nasdaq composite index advanced 0.8% to record 8170.23. The dollar strengthening resumed as the Automatic Data Processing Inc. reported the US private sector added 102,000 new jobs in June, below the 140,000 expected, but above the 41,000 jobs created 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, inched up less than 0.01% to 96.75 and is higher currently. US financial markets will be closed today for the Independence Day holiday.

Start trading with IFC Markets

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