Stocks end mixed despite positive reports

6/11/2019

Dollar weakening halts

US stocks pulled back on Tuesday despite positive data. The S&P 500 slipped 0.1% to 3074.67. The Dow Jones industrial average however gained 0.1% to new record 27492.63. Nasdaq added 0.02% to 8434.68. The dollar strengthening was intact as the Institute of Supply Management’s service sector activity index rose to 54.7% in October, up from 52.6% 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, rose 0.3% to 97.90 and is higher currently. Futures on US stock indices point to lower openings.

CAC 40 leads European indexes gains

European stock market advanced third straight session on Tuesday. Both the EUR/USD and GBP/USD continued their slide yesterday with both pairs higher currently. The Stoxx Europe 600 ended 0.2% higher led by mining stocks. The German DAX 30 added 0.1% to 13148.50. France’s CAC 40 rose 0.4%. UK’s FTSE 100 advanced 0.3% to 7388.08 as services sector contraction halted in October.

Australia’s All Ordinaries Index leads Asian indexes losses

Asian stock indices are mixed today against the backdrop of reports Chinese negotiators want the removal of 15% tariffs on about $125 billion worth of goods that went into effect September 1 and the $250 billion of import duties. Nikkei rose 0.2% to 23303.82 despite yen reversing its slide against the dollar. Chinese stocks are mixed as China’s central bank cut its base interest rate on a one-year loan by 0.05% to 3.25%: the Shanghai Composite Index is down 0.6% while Hong Kong’s Hang Seng index is 0.2% higher. Australia’s All Ordinaries Index turned 0.6% lower despite Australian dollar resuming its slide against the greenback.

HK50 testing MA(200)   11/6/2019 Market Overview IFC Markets chart

Brent lower

Brent futures prices are falling today. Prices rose yesterday: January Brent rose 1.3% to $62.96 a barrel on Tuesday. Trade group the American Petroleum Institute late Tuesday report indicated US crude supplies rose by 4.3 million barrels last week. Today at 16:30 CET the Energy Information Administration will release US Crude Oil Inventories.




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.