By IFCMarkets

US stock market closed mixed on Wednesday as in the first day of Senate impeachment trial most of the evidence being laid out was a rehash of testimony already presented in the House of Representatives. The S&P 500 inched up 0.03% to 3321.75. The Dow Jones industrial average however slipped 0.03% to 29186.27. Nasdaq added 0.14% to 9383.77. The dollar strengthening reversed despite report sales of existing homes surged nearly 4% in December. 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, declined 0.1% to 97.50 but is higher currently. Futures on stock indexes point to lower openings today.

European stocks ended marginally lower on Wednesday as President Donald Trump threatened to impose tariffs on imports of cars from the European Union at the World Economic Forum in Davos. EUR/USD joined GBP/USD’s continued climb with both pairs lower currently. The Stoxx Europe 600 ended down 0.1% led by auto shares. Germany’s DAX 30 declined 0.3% to 13515.75. France’s CAC 40 fell 0.6% while UK’s FTSE 100 lost 0.5% to 7571.92.

Asian stock indices are solidly lower today as market participants try to gauge the impact of a flu epidemic after confirmation of the spread of the coronavirus in China. Nikkei fell 1% to 23795.44 as yen climb against the dollar continued despite report Japan’s exports fell 6.3% on year in December. Chinese stocks are down: the Shanghai Composite Index is down 3.4% while Hong Kong’s Hang Seng Index is 2.2% lower. Australia’s All Ordinaries Index lost 0.6% with Australian dollar climb against the greenback resuming after positive jobs report.

Brent futures prices are extending losses today. Prices fell on Wednesday: March Brent lost 2.1% to $63.21 on Wednesday. The American Petroleum Institute reported late Wednesday US crude oil supplies rose by 1.6 million barrels in the previous week. Shares of Saudi Aramco slipped 0.3% to 34.45 riyals per share. At the Saudi Arabia’s Finance Minister Mohammed Al-Jadaan said at Davos the kingdom is still considering listing shares abroad.

Gold prices are edging lower as dollar inches up. The price of an ounce of gold for February delivery slipped 0.1% to $1,556.7 Wednesday as the dollar strengthening reversed.

Market Analysis provided by IFCMarkets

Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.