By IFCMarkets
US stock market slide continued on Monday. The S&P 500 slipped 0.1% to 2798.36. Dow Jones industrial however managed to end 0.1% higher at 25516.83 thanks to Boeing 2.3% rebound. The Nasdaq composite slid 0.1% to 7637.54. The dollar weakened: 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, slipped 0.1% to 96.482 but is higher currently. Futures on US stock indexes indicate higher openings today.
European stocks slide continued on Monday as investors confidence was undermined by yield curve Friday inversion – turning negative of spread between three-month and 10-year US bond yields. The GBP/USD turned lower while EUR/USD turned higher with both pairs lower currently. The Stoxx Europe 600 index lost 0.5% with all sectors down. The DAX 30 slid 0.2% to 11346.65 as Germany’s IFO Institute business climate index rose, beating a consensus forecast. France’s CAC 40 slipped 0.2% and UK’s FTSE 100 fell 0.2% to 7177.58.
Asian stock indices are mixed today as 10-year U.S. Treasury yield edged up to 2.442 percent . Nikkei rebounded 2.2% to 21428.39 as yen slide against the dollar accelerated. Markets in China are lower: the Shanghai Composite Index is down 1.5% and Hong Kong’s Hang Seng Index is 0.2% lower. Australia’s All Ordinaries Index recovered 0.1% despite Australian dollar continued climb against the greenback.
Brent futures prices are extending gains today still supported by OPEC supply cuts. Prices gained yesterday: May Brent crude rose 0.3% to $67.21 a barrel on Monday.
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