By IFCMarkets

US stock market rally resumed on Thursday as US-China trade deal came into forefront anew. The S&P 500 gained 0.7% to new record 3274.70. The Dow Jones industrial average advanced 0.7% to fresh record 28956.90. Nasdaq composite index rallied 0.7% to record 9203.43. The dollar strengthening slowed as the number of people applying for first time jobless benefits slipped to 214,000 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, added 0.1% to 97.41 and is higher currently. Futures in stock indexes point to higher openings today.

European stocks extended gains on Thursday buoyed by strong German industrial data. The slide of both GBP/USD and EUR/USD continued yesterday with Pound turning higher currently while euro little changed. The Stoxx Europe 600 index ended 0.3% higher led by technology stocks. Germany’s DAX 30 rallied 1.3% to 13495.06 as data showed German industrial output rose above expected 1.1% over month in November after 0.1% decline the previous month. France’s CAC 40 added 0.2% and UK’s FTSE 100 rose 0.3% to 7598.12.

Asian stock indices are mostly higher today. Nikkei ended up 0.5% at 23850.57 with yen slide against dollar slowing. Chinese stocks are mixed: the Shanghai Composite Index is down 0.08% while Hong Kong’s Hang Seng Index is 0.3% higher. Australia’s All Ordinaries Index extended gains 0.8% despite Australian dollar reversing its slide against the greenback.

Brent futures prices are extending losses today. Prices ended lower third session yesterday: March Brent crude slipped 0.1% to $65.37 a barrel on Thursday. Despite downward momentum in oil prices Saudi Aramco shares recovered most of losses incurred in previous three sessions Thursday: Aramco gained 2.34% to 35.50 riyals in Riyadh at Tadawul exchange.

Gold prices are edging lower after Wednesday’s loss. The price of an ounce of gold for February delivery fell 0.9% to $1,560.20 Wednesday as the dollar strengthening continued.

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