By IFCMarkets
US stock market rebound continued on Thursday after reports Trump administration might delay a planned 5% tariff on all imports from Mexico. The S&P 500 added 0.6% to 2843.49. The Dow Jones industrial average rose 0.7% to 25720.66. Nasdaq composite index gained 0.5% to 7615.55. The dollar strengthening reversed as new applications for unemployment benefits rose to 218,000, in the week ended June 1, from 215,000. 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, fell 0.3% to 97.0 but is lower currently. Futures on US stock indices point to higher openings today.
European stocks ended mixed on Thursday as the European Central Bank left its overnight deposit interest rate at minus 0.4%, while extending its forecast for how long it will keep rates this low into at least the first half of 2020. Both EUR/USD and GBP/USD turned higher with Pound rising currently while euro retracing lower. The Stoxx Europe 600 index ended marginally lower. Germany’s DAX 30 slipped 0.2% to 11953.14. France’s CAC 40 lost 0.3% while UK’s FTSE 100 gained 0.6% to 7259.85.
Asian stock indices are edging higher in thin trading today with markets in Hong Kong, mainland China and Taiwan closed for a holiday. Nikkei rose 0.5% to 20884.71 as yen slide against the dollar persisted. Australia’s All Ordinaries Index extended gains 1.0% with Australian dollar flat against the greenback.
Brent futures prices are edging higher today. Prices rebounded yesterday: August Brent crude rose 1.7% to $61.67 a barrel on Thursday.
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