By IFCMarkets
US stock market paused on Wednesday on mixed earnings reports as energy stocks weighed. The S&P 500 lost 0.2% to 2927.25. The Dow Jones industrial average slipped 0.2% to 26597.05. Nasdaq composite index slid 0.2% to 8102.01. The dollar strengthening accelerated: 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, rose 0.5% to 97.055 but is lower currently. Futures on US stock indexes point to mixed openings today.
European stocks gave back part of previous session gains on Wednesday weighed by energy shares. Both the EUR/USD and GBP/USD continued their slide but are higher currently. The Stoxx Europe 600 slipped 0.1%. Germany’s DAX 30 however rose 0.6% to 12313.16 despite weaker than expected readings of Germany’s IFO business climate index for April, France’s CAC 40 slid 0.3% anf UK’s FTSE 100 lost 0.7% to 7471.72.
Asian stock indices are mixed today. Nikkei gained 0.5% to 22307.58 as yen resumed its climb against the dollar while the Bank of Japan pledged to keep interest rates very low at least until early 2020. China’s stocks are lower on talks authorities may hold off on providing more economic stimulus after better than expected growth data: the Shanghai Composite Index is down 2.4% and Hong Kong’s Hang Seng Index is 0.9% lower. Australia’s All Ordinaries Index added another 1.0% despite Australian dollar turn higher against the greenback.
Brent futures prices are rising today. Prices were virtually flat yesterday despite report US gasoline stocks fell by 2.1 million barrels while crude stockpiles rose by 5.5 million last week. June Brent crude added less than 0.1% to $74.57 a barrel on Wednesday.
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