Dow and S&P 500 slip while NASDAQ closes at record
US stocks inched lower on Thursday as weak corporate reports weighed on market sentiment. The dollar resumed the tumble: 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 0.6% to 94.241. Dow Jones industrial average lost 0.1% closing at 21611.78 dragged by 4.1% drop in Home Depot (NYSE:HD). The S&P 500 slipped 0.38 points settling at 2473.45 led by materials and industrials stocks. The Nasdaq index gained 0.1% to 6390.00 in tenth winning session in a row.
Euro jumps after Draghi comments
European stocks ended lower on Thursday as euro rallied after European Central Bank President Mario Draghi said officials would discuss altering the central bank’s bond-buying program in an autumn meeting. The British Pound extended losses against the dollar. The Stoxx Europe 600 closed 0.4% lower. Germany’s DAX 30 slipped 0.04% closing at 12447.25. France’s CAC 40 lost 0.32% while UK’sFTSE 100 ended 0.77% higher at 7487.87. Indices opened lower today.
Asian markets down
Asian stock indices are mostly lower today. Nikkei lost 0.2% to 20095.50 as yen continued the rise against the dollar despite Bank of Japan indicated it will keep the ultra-loose monetary policy longer than other major central banks. Chinese stocks are mixed: the Shanghai Composite Index is down 0.2% while Hong Kong’s Hang Seng Index is 0.02% higher. Australia’s All Ordinaries Index is down 0.7% despite continued slide of the Australian dollar against the greenback.
Oil advances ahead of OPEC meeting
Oil futures are edging higher as members of the Organization of the Petroleum Exporting Countries (OPEC) are scheduled to meet other major producers in St. Petersburg, Russia, on Monday to discuss whether more action is needed to support prices. Prices retreated on Thursday on concerns about continued global inventory glut. Brent for September settlement fell 0.8% to end the session at $49.30 a barrel on the London-based ICE Futures Europe exchange.