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U.S. Equities Pull Back Ahead Of Inflation Report

By IFC Markets (Ara Zohrabian)Market OverviewMar 13, 2018 09:35AM ET
www.investing.com/analysis/us-equities-pull-back-ahead-of-inflation-report-200297608
U.S. Equities Pull Back Ahead Of Inflation Report
By IFC Markets (Ara Zohrabian)   |  Mar 13, 2018 09:35AM ET
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S&P 500, Dow slip while NASDAQ Composite rises

US stocks ended mostly lower Monday after Friday rally. The S&P 500 slipped 0.1% to 2783.02 led by industrial stocks down more than 1.2%. The Dow Jones industrial fell 0.6% to 25178.61. The Nasdaq composite index, however, rose 0.4% to 7588.32. The dollar weakened snapping three-session strengthening streak: 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 0.2% to 89.92. Stock indices futures indicate higher openings today.

European stocks rise the sixth session straight

European stocks rose on Monday as upbeat US nonfarm payroll report last Friday boosted investors risk appetite. The euro joined the British pound's climb against the dollar. The Stoxx Europe 600 index rose 0.3%, sixth consecutive win. The DAX 30 jumped 0.6% to 12418.39. France’s CAC 40 added less than 0.1% while UK’s FTSE 100 lost 0.1% to 7214.76. Indices opened flat to 0.3% higher today.

Asian stocks mixed

Asian stock indices are mixed today. Nikkei rose 2.3% to 21962 helped by resumed yen slide against the dollar. Chinese stocks are falling on news the country was planning to merge its banking and insurance regulators: the Shanghai Composite Index is down 0.5% and Hong Kong’s Hang Seng Index is 0.1% lower. Australia’s All Ordinaries Index is down 0.4% on lower iron ore prices and Australian dollar strength against the US dollar.

AU200 Daily Chart
AU200 Daily Chart

Brent up on rising US output

Brent Oil Futures prices are extending losses today on rising US crude output. Prices fell Monday after the Energy Information Administration report crude production from seven major US shale plays is expected to climb by 131,000 barrels a day in April to 6.954 million barrels a day. May Brent crude settled 0.8% lower at $64.95 a barrel on Monday.

U.S. Equities Pull Back Ahead Of Inflation Report
 
U.S. Equities Pull Back Ahead Of Inflation Report

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