By IFCMarkets

US stock market will reopen today following President’s Day holiday. Futures on indexes point to lower openings after Apple warned it will not meet its revenue guidance for the March quarter as the coronavirus outbreak slowed production in China. The S&P 500 closed last week on positive note, recording 1.6% gain for the week. The dollar strengthening continued at slower pace yesterday: 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, rose 0.04% to 99.14 and is higher currently.

European stocks ended marginally higher on Monday. The GBP/USD reversed its climbing yesterday while EUR/USD was little changed with both pairs lower currently. The Stoxx Europe 600 index added 0.3% led by auto shares. The DAX 30 rose 0.29% to 13783.89. France’s CAC 40 added 0.27% and UK’s FTSE 100 gained 0.33% to 7433.25

Asian stock indices are mostly lower today. Nikkei extended losses 1.4% to 23193.80 as yen slide against the dollar reversed. Markets in China are falling despite official report the number of new infections seems to be falling since early February: the Shanghai Composite Index is down 0.2 % and Hong Kong’s Hang Seng Index is 1.5% lower. Australia’s All Ordinaries Index lost another 0.2% despite accelerating Australian dollar slide against the greenback.

Brent futures prices are retracing lower today. Prices ended higher yesterday as Libya’s national oil corporation said on Monday that oil production was at 135,745 barrels per day compared with 1.2 million bpd before of a blockade of ports and oil fields by groups loyal to eastern-based commander Khalifa Haftar since January 18. April Brent crude closed 0.6% higher at $57.67 a barrel on Monday.

Gold prices are edging higher today. Spot gold lost 0.2% to $1580.8 on Monday.

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