Dow Rises Fourth Straight Session While S$P 500 Slips
Dollar Strengthening Halts Despite Rising Consumer Borrowing
US stock indexes ended mixed on Monday as Treasury Secretary Mnuchin said the administration was willing to continue with its tariff policy unless a good deal for US companies and workers could be struck The S&P 500 finished 0.01% lower at 2978.43. Dow Jones Industrial Average rose 0.1% to 26835.51. The Nasdaq composite retreated 0.2% to 8087.44. The dollar strengthening reversed despite data showing consumer borrowing rose 6.8% annual rate in July from a 4.1% rate in the previous month: 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, slipped 0.1% to 98.31 but is higher currently. Stock index futures point to higher openings today.
FTSE 100 Lags European Indexes
European stocks pulled back on Monday. Both GBP/USD and EUR/USD turned higher yesterday with both pairs falling currently. The Stoxx Europe 600 index ended 0.3% lower led by healthcare and utilities shares. The DAX 30 however gained 0.3% to 12226.10 lifted by unexpected strong July trade surplus. France’s CAC 40 slipped 0.3% and UK’s FTSE 100 slid 0.6% to 7235.81.
Nikkei Up While Other Asian Indexes Slip
Asian stock indices are mixed today. Nikkei rose 0.4% to 21392.10 as the yen slide against the dollar continued. Markets in China are mixed as data showed consumer inflation rose more than expected in August, although the producer prices unexpectedly fell in August from a year ago.: the Shanghai Composite Index is down 0.1% while Hong Kong’s Hang Seng Index is 0.1% lower. Australia’s ASX All Ordinaries Index turned 0.5% lower despite a halt in Australian dollar‘s climb against the greenback.
Brent futures prices are edging lower today after earlier gains following Saudi Arabia confirmation of continuing support for global deal to cut oil production by 1.2 million barrels per day. Prices rose yesterday: November Brent crude closed 1.7% higher at $62.59 a barrel on Monday.
Dow Up S&P 500 Slips
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