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Market Overview


US equities slide continued on Friday. S&P 500 lost 0.9% to 2781.01, closing 2.1% higher for the week. Dow Jones industrial average slid 0.8% to 25989.30. The Nasdaq fell 1.7% to 7406.90. The dollar extended gains on stronger than expected producer price inflation October report: 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 0.2% to 96.861 and is higher currently. Futures on stock indices point to higher openings today.

US equities pulled back on Thursday as the Federal Reserve stood pat. The S&P 500 slid 0.3% to 2806.83. Dow Jones industrial average however managed to inch up 0.04% to 26191.22. The Nasdaq composite lost 0.5% to 7530.88. The dollar strengthening resumed as traders deemed the absence of any signal of a change in Fed’s monetary policy means a coming hike in December with three other increases in 2019. 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 0.5% to 96.623 and is higher currently. Futures on stock indices point to lower openings today.

US equities rallied on Wednesday while elections resulted in divided Congress as Democrats took control of the House and Republicans strengthened their control of the Senate. The S&P 500 rallied 2.1% to 2813. The Dow Jones industrial average gained 2.1% to 26180. Nasdaq composite index jumped 2.6% to 7570.75. The dollar weakening endured ahead of the Federal Reserve meeting conclusion today. 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, slid 0.1% to 96.146 and is lower currently. Futures on stock indices indicate mixed openings today.

US equities rebound continued on Tuesday ahead of results of midterm elections. The S&P 500 gained 0.6% to 2755.44. Dow Jones industrial average rose 0.7% to 25635.01. The Nasdaq composite index added 0.6% to 7375.96. The dollar weakening continued despite strong labor market data: there were 7 million job openings in the US in September, after a 7.3 million in August. 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 0.1% to 96.241 and is lower currently. Futures on stock indices indicate higher openings today.

US equities moved higher on Monday with focus turning to midterm congressional elections. The S&P 500 added 0.6% to 2738.31. Dow Jones industrial rose 0.8% to 25461.70. The Nasdaq composite index however lost 0.4% to 7328.85 led by Apple down another 2.8%. The dollar strengthening reversed despite solid data: services sector activities expansion slowed less than forecast as the ISM services index slipped to 60.3 in October from 61.6 in September. 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, slid 0.2% to 96.294 but is higher currently. Futures on stock indices point to higher openings today.

US equities ended lower on Friday led by technology shares on weaker than expected Apple earnings outlook. S&P 500 lost 0.6% to 2723.06, closing 2.4% higher for the week. Dow Jones industrial average slid 0.4% to 25270.83. The Nasdaq fell 1% to 7356.99. The dollar strengthening resumed on stronger than expected October jobs report while US trade deficit widened : 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 0.2% to 96.477 but is lower currently. Futures on stock indices point to lower openings today.

US equities advance continued on Thursday supported by President Trump’s upbeat tweet on trade talks with China. The S&P 500 rose 1.1% to 2740.37. Dow Jones industrial average gained 1.1% to 25380.74. The Nasdaq composite jumped 1.8% to 7434.06. The dollar strengthening reversed on mixed data: both the ISM and Markit’s manufacturing indexes declined more than expected while nonfarm productivity and unit labor costs rose above expectations: 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 0.8% to 96.294 and is lower currently. Futures on stock indices indicate higher openings today.

US equities extended gains on Wednesday supported by better than expected corporate reports and economic data. The S&P 500 gained 1.1% to 2711.68. The Dow Jones industrial average added 1% to 24583.42. Nasdaq composite index rallied 2% to 7305.90 led by Facebook on better than expected quarterly results. While the two-day rally paired significantly losses from recent stock market downturn, the three main stock indices closed the month with sizable losses: 5.1% - 9.2%. The dollar strengthening slowed as earnings growth remained at the 2.8% over-year level in the third quarter, a 10-year high, while labor costs rose 0.8%. 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 0.1% to 97.076 but is lower currently. Futures on stock indices point to lower openings today.

US equities rebounded on Tuesday after President Trump’s late Monday comment the US “will make a great deal with China and it has to be great, because they’ve drained our country.” The S&P 500 gained 1.6% to 2682.63. Dow Jones industrial average rallied 1.8% to 24874.64 recovering previous session’s 1% loss. The Nasdaq composite index rose 1.6% to 7161.65. The dollar strengthening continued despite mixed data as home price gains slowed in August while consumer confidence by Conference Board strengthened further in October: 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 96.996 and is higher currently. Futures on stock indices indicate higher openings today.

US stock market remained in downturn mode on Monday on news US is ready to impose tariffs on China if trade talks fail. The S&P 500 slid 0.7% to 2641.25. Dow Jones industrial fell 1% to 24442.92. The Nasdaq composite index lost 1.6% to 7050.29. The dollar strengthening resumed despite soft inflation data: the personal consumption expenditures index, the Federal Reserve’s preferred price gauge, slipped to 2% in September from 2.2% in August. 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 0.4% to 96.662 and is higher currently. Futures on stock indices point to higher openings today.