By IFCMarkets
Dollar strengthening slowed on initial claims data
US stock market rebound resumed on Thursday led by energy shares. The S&P 500 added 0.4% to 2891.64. The Dow Jones industrial average gained 0.4% to 26106.77. Nasdaq composite index rose 0.6% to 7837.13. The dollar strengthening slowed as new applications for unemployment benefits rose to 222,000, in the week ended June 8, from 219,000. 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, added 0.1% to 97.028 and is higher currently. Futures on US stock indices point to lower openings today.
DAX 30 outperforms European indexes
European stocks ended marginally higher on Thursday led by telecom shares. Both EUR/USD and GBP/USD slowed their decline with euro rising currently while Pound sliding lower. The Stoxx Europe 600 index ended 0.1% higher. Germany’s DAX 30 rose 0.4% to 12169.05. France’s CAC 40 inched up 0.01% and UK’s FTSE 100 gained 0.01% to 7368.57 as Luxembourg Prime Minister Xavier Bettel said there would be no renegotiation of the U.K.’s departure deal with the European Union.
Shanghai Composite falls while Nikkei rebounds
Asian stock indices are mixed today as President Trump again threatened to increase tariffs on Chinese goods if no deal is agreed. Nikkei rose 0.4% to 21116.89 as yen extended its advance against the dollar. Chinese shares are retreating: the Shanghai Composite Index is down 1.0% and Hong Kong’s Hang Seng Index is 0.7% lower. Australia’s All Ordinaries Index rebounded 0.2% with Australian dollar continuing its slide against the greenback at previous session pace.
Brent slips
Brent futures prices are edging lower today. Prices rebounded yesterday after apparent attacks on two tankers near the Strait of Hormuz: August Brent crude rose 2.2% to $61.30 a barrel on Thursday.
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