By IFCMarkets
US stock market extended gains on Friday as President Trump and Democratic leaders agreed to reopen the government until February 15. S&P 500 advanced 0.9% to 2664.76, closing 0.2% lower for the week. Dow Jones industrial rose 0.8% to 24737.20. The Nasdaq rallied 1.3% to 7164.86. The dollar strengthening reversed on news Fed officials are considering whether to end the shrinking of the central bank’s balance sheet early. 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 0.8% to 95.736 but is higher currently. Futures on three main US stock indices point to lower openings today.
European stocks finished solidly higher on Friday despite weak German data. Both the GBP/USD and EUR/USD turned higher but are lower currently. The Stoxx Europe 600 Index gained 0.6%, adding 0.2% for the week. The DAX 30 jumped 1.4% to 11281.79 as investors shrugged off deteriorating business sentiment readings. France’s CAC 40 rose 1.1% while UK’s FTSE 100 slipped 0.2% to 6798.57.
Asian stock indices are mixed today. Nikkei lost 0.6% to 20649.00 with yen continuing its climb against the dollar. Chinese stocks are mixed as China’s central bank freed a potential $37 billion for bank lending: the Shanghai Composite Index is down 0.2% while Hong Kong’s Hang Seng Index is 0.02% higher. Australia’s All Ordinaries Index rose 0.7% with the Australian dollar little changed against the greenback.
Brent futures prices are lower today. Prices ended higher on Friday despite Baker Hughes report active oil rig count rose by 10 to 862 last week: Brent for March settlement gained 0.9% to close at $61.642 a barrel Friday, falling 1.7% for the week.
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