SP500 ends at new record on China trade deal optimism

29/10/2019

Dollar weakened on mixed data

US stocks broadened gains on Monday as president Trump said US and China were going “probably to be ahead of schedule” with signing the phase one trade deal. The S&P 500 finished 0.6% higher at new record high 3044.08. Dow Jones industrial added 0.5% to 27090.72. The Nasdaq composite rose 1% to 8325.99. The dollar strengthening halted as Chicago Fed National Activity Index turned negative for September while US trade deficit narrowed more than expected: 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 0.05% to 97.75 but is higher currently. The Fed tow-day policy meeting starts today, and futures on US stock indices point to mixed openings.

SP500 rising above MA(200)   10/29/2019 Market Overview IFC Markets chart

DAX posts biggest gain among European indexes

European stock market extended gains for fourth straight session on Monday. Both EUR/USD and GBP/USD turned higher yesterday with both pairs retreating currently. The Stoxx Europe 600 index ended 0.3% higher. The DAX 30 rose 0.4% to 12941.71. France’s CAC 40 gained 0.2% and UK’s FTSE 100 added 0.1% to 7331.28 as European Union granted a three-month extension to Brexit while UK parliament rejected Prime Minister Boris Johnson’s call to hold an early election on December 12.

Nikkei rises while Chinese stocks fall

Asian stock indices are mixed today. Nikkei ended 0.5% higher at 22974.13 with yen little changed against the dollar. Markets in China are falling despite reports US is considering extending tariff exemptions that were approved last December on $34 billion on Chinese goods. The Shanghai Composite Index is down 0.9% and Hong Kong’s Hang Seng Index is 0.4% lower. Australia’s All Ordinaries Index extended gains 0.1% as Australian dollar continued its climb against the greenback.

Brent down

Brent futures prices are extending losses today on demand sustainability concerns. Prices fell yesterday: December Brent crude closed 0.7% lower at $61.57 a barrel on Monday.




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.