By IFCMarkets
US stock market had another choppy session on Thursday as investors worried about negative impact of coronavirus infection in China. The S&P 500 gained 0.1% to 3325.50. The Dow Jones industrial average extended losses 0.1% to 29160.09. Nasdaq composite index added 0.2% to 9402.48. The dollar weakening reversed as layoffs remained near a 50-year low though the number of people applying for first time jobless benefits rose by 6,000 to 211,000 last week: 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 0.2% to 97.67 and is higher currently. Futures on stock indexes point to higher openings today.
European stocks extended losses on Thursday. Both the GBP/USD and EUR/USD reversed their climbing yesterday with Pound turning higher currently while euro lower still. The Stoxx Europe 600 index broadened it decline to 0.7% as European Central Bank (ECB) President Christine Lagarde’s said the risks for euro-zone economy were still “tiled to the downside.” The ECB held its interest rates steady Thursday and launched a strategic policy review to establish whether its inflation target is still appropriate. Germany’s DAX 30 fell 0.94% to 13388.42. France’s CAC 40 slid 0.65% while UK’s FTSE 100 lost 0.85% to 7507.67.
Asian stock indices are mostly higher today. Nikkei ended up 0.1% at 23827.18 with yen little changed against dollar. Markets in China are closed ahead of the Lunar New Year starting Saturday. Hong Kong’s Hang Seng Index is 0.03% lower. Australia’s All Ordinaries Index recovered 0.04% with Australian dollar flat against the greenback.
Brent futures prices are rebounding today. Prices ended lower yesterday: March Brent crude lost 1.9% to $62.04 a barrel on Thursday. Energy Information Administration data revealed that US crude supplies fell by 400,000 barrels last week. The report was released a day later than usual because of Monday’s Martin Luther King Jr. holiday.
Gold prices are retreating today. Prices rebounded on Thursday: February gold added 0.3% to $1561.70 an ounce.
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