S&P 500 and Nasdaq advance while Dow slips
US markets ended higher on Wednesday as Federal Reserve policy meeting minutes indicated central bank may start reducing its balance sheet soon and technology stocks rallied. The dollar weakened marginally: 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, closed down 0.05% at 96.20. The S&P 500 added 0.2% settling at 2432.54 lifted by gains in technology, health care and financial stocks. The Dow Jones industrial average slipped less than 0.1% to 21478.17, as losses in Nike (NYSE:NKE), Chevron (NYSE:CVX) and Exxon Mobil (NYSE:XOM) shares offset gains in Boeing (NYSE:BA), Intel (NASDAQ:INTC) and Microsoft Corporation (NASDAQ:MSFT). Nasdaq rose 0.7% to 6150.86.
European stocks rebound
European stock indices ended mostly higher on Wednesday despite a slump in energy stocks. Both the euro and British Pound gained against the dollar. The Stoxx Europe 600 index rose 0.2%. Germany’s DAX 30 added 0.1% to 12453.68. France’s CAC 40 ended 0.1% higher and UK’s FTSE 100 index gained 0.1% to 7367.60.
Asian stocks lower amid uncertainty
Asian stock indices are mostly lower today as investors adopted a wait-and-see approach ahead of the G20 nations meeting in Germany amid high geopolitical tensions after North Korean missile launch. Nikkei ended 0.4% lower at three-week low 19994.06 as the dollar resumed the growth against the yen. Chinese stocks are mixed: Shanghai Composite Index is 0.2% higher while Hong Kong’s Hang Seng Index is down 0.2%. Australia’s ASX All Ordinaries is 0.1% lower with the Australian dollar little changed against the US dollar.
Oil higher on expected US inventory draw
Oil futures prices are edging higher today after the American Petroleum Institute reported late Wednesday a much larger-than-expected drop of 5.8 million barrels in US crude supplies. Prices fell sharply the previous day after a report that Russia opposes any further restrictions on oil supply other than the cuts already agreed. The Organization of the Petroleum Exporting Countries and major producers including Russia in May extended a deal to cut production into the first quarter of 2018. September Brent crude fell 3.7% to $47.79 a barrel on Wednesday on London’s ICE Futures exchange. The US Energy Information Administration will release US crude inventories at 17:00 CET today.