By IFCMarkets

US stocks closed at record high third consecutive session on Wednesday buoyed by upbeat data. The S&P 500 gained 0.4% to fresh record 3153.63. The Dow Jones industrial average advanced 0.2% to 28164.00. Nasdaq rose 0.7% to 8705.18. The dollar strengthening resumed on a batch of positive data: Q3 GDP was revised to 2.1% from1.9% initial estimate, orders for durable goods rose above expected 0.6% in October, and initial jobless claims declined 15,000 to 213,000 last week. 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 0.1% to 98.32 but is lower currently. US markets are closed today for the Thanksgiving holiday and will close early on Friday.

European stock indexes extended gains on Wednesday. EUR/USD declined while GBP/USD turned higher yesterday with both pairs reversing currently. The Stoxx Europe 600 added 0.3% led by telecom shares. Germany’s DAX 30 rose 0.4% to 13158.14. France’s CAC 40 slipped 0.1% despite consumer confidence rise in November and UK’s FTSE 100 gained 0.4% to 7429.78.

Asian stock indices are mostly in red today as Beijing threatened unspecified consequences after President Trump signed two bills supporting Hong Kong protesters. Nikkei pilled back 0.1% to 23409.14 with yen decline against the dollar reversed. Chinese stocks are falling: the Shanghai Composite Index is 0.5% lower while Hong Kong’s Hang Seng Index is down 0.2%. Australia’s All Ordinaries Index added 0.2% with Australian dollar slide against the greenback continuing.

Brent futures prices are marginally lower today. Prices pulled back yesterday after Energy Information Administration report Wednesday that US crude supplies rose by a lower than forecast 1.6 million barrels last week: January Brent crude slid 0.3% to $64.06 a barrel on Wednesday.

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