By IFCMarkets
Dollar strengthening resumed as Empire State index rebounded
US stock market inched to third record closing on Monday as Citigroup results mark start of earnings season. The S&P 500 added less than 0.1% to 3014.30. Dow Jones industrial gained 0.1% to 27359.16. The Nasdaq composite rose 0.2% to 8258.19. The dollar resumed strengthening as data showed the New York Fed’s Empire State manufacturing index rebounded to 4.3 in July, from minus 8.6 in June : 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 96.916 and is higher currently. Stock index futures point to mixed market openings today
DAX 30 paces European indexes recovery
European stocks resumed advancing on Monday with China’s growth slowdown concerns limiting gains. Both GBP/USD and EUR/USD turned lower and are down currently. The Stoxx Europe 600 index gained 0.5% led by auto maker shares. The DAX 30 rose 0.5% to 12387.34. France’s CAC 40 edged up 0.1% and UK’s FTSE 100 added 0.3% to 7531.72.
Nikkei leads Asian indexes losses
Asian stock indices are mostly falling today. Nikkei closed 0.7% lower at 21535.25 despite accelerated yen slide against the dollar. Markets in China are mixed: the Shanghai Composite Index is down 0.2% while Hong Kong’s Hang Seng Index is 0.1% higher. Australia’s All Ordinaries Index lost 0.2% despite Australian dollar’s slide against the greenback.
Brent advances
Brent futures prices are edging higher. Prices fell yesterday as Gulf storm threat passes: September Brent crude lost 0.4% to $66.48 a barrel on Monday.
Market Analysis provided by IFCMarkets
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