Market Overview
US Stocks End On Mixed Data
Dollar Declines As Existing Homes Sales Fall
US stock market edged higher on Monday on mixed data after reopening following Easter Holiday. The S&P 500 added 0.1% to 2907.97 as the Chicago Fed national activity index rose to negative 0.15 in March from negative 0.31 in February. Dow Jones Industrial Average however dipped 0.2% to 26511.05 dragged by 1.3% drop in Boeing (NYSE:BA) on reports of lax production oversight of 787 Dreamliner planes. The NASDAQ Composite rose 0.2% to six-month high 8015.27. The dollar weakening persisted as existing homes sales declined 4.9% over month in March. The live dollar index data show the ICE (NYSE:ICE) US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, edged down 0.05% to 97.29 but is higher currently. Futures on US stock indexes point to mixed openings today.
Futures On European Indices Show Mixed Openings After Easter Holidays
Markets in Europe will reopen today after Easter holidays. Futures on stock indices point to mixed openings. GBP/USD continued declining while the EUR/USD’s climbing endured yesterday with both pairs reversing directions currently. Today euro-zone government debt-to-GDP and consumer confidence numbers will be released at 11:00 CET and 16:00 CET respectively as companies continue reporting quarterly results.
Australia’s All Ordinaries Index Leads Asian Gains
Asian stock indices are mixed today. Nikkei extended gains 0.2% to 22259.74 despite yen's climb against the dollar. Markets in China are lower: the Shanghai Composite is down 0.5% and Hong Kong’s Hang Seng is 0.2% lower. Australia’s All Ordinaries index on the other hand rose 1.0% as Australian dollar accelerated slide against the greenback.
Brent Up
Brent futures prices are extending gains today. Prices jumped yesterday after US confirmed will end all waivers on imports of Iranian oil: June Brent crude rallied 2.9% to $74.04 a barrel on Monday.