By IFCMarkets
Blue chip shares lead US equities higher
US stock market resumed advancing on Wednesday led by blue chip shares after upbeat earnings reports. The S&P 500 gained 0.2% to 2638.70. The Dow Jones industrial average advanced 0.7% to 24575.62. Nasdaq composite index added 0.1% to 7025.77. The dollar weakening accelreated: 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, lost 0.2% to 96.10 but is higher currently. Futures on three main US stock indices point to mixed openings today.
FTSE 100 still loss leader among European indexes
European stocks edged lower on Wednesday led by retail shares. EUR/USD joined GBP/USD’s accelerated climb ahead of the European Central Bank meeting today with Pound lower currently while euro inching higher. The Stoxx Europe 600 closed 0.1% lower. Germany’s DAX 30 slipped 0.2% to 11071.54, France’s CAC 40 slid 0.2% and UK’s FTSE 100 lost 0.9% to 6842.88.
Nikkei slips while other Asian indices gain
Asian stock indices are mostly higher today after a rebound on Wall Street overnight. Nikkei slipped 0.1% to 20574.63 as yen slide against the dollar persisted after data showed manufacturing slowed in January. China’s stocks are gaining despite reports President Donald Trump won’t agree to any deal with China unless Beijing agrees to make substantive changes to the way it does business: the Shanghai Composite Index is up 0.4% while Hong Kong’s Hang Seng Index is 0.3% higher. Australia’s All Ordinaries Index extended gains 0.4% as the Australian dollar turned lower against the greenback.
Brent down
Brent futures prices are extending losses today while possible US oil sanctions on Venezuela provide support. The American Petroleum Institute industry group reported late Wednesday US crude supplies rose by about 6.6 million barrels last week. Prices ended lower yesterday: March Brent crude fell 0.6% to $61.14 a barrel on Wednesday. Today at 16:30 CET the Energy Information Administration will release US Crude Oil Inventories.
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