Stocks records stretch intact - 27.11.2019

Dollar strengthening halted

US stocks rally continued on Tuesday as market sentiment was boosted by positive assessment of the economy from Federal Reserve Chairman Jerome Powell despite mixed data. The S&P 500 rose 0.2% to new record 3140.52. The Dow Jones industrial average gained 0.2% to fresh record 28121.68. Nasdaq added 0.2% to 8647.93. The dollar strengthening halted as the trade deficit fell above expected 6% to $66.5 billion, while the Conference Board’s consumer confidence index fell fourth month in a row in November. 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, slipped less than 0.1% to 98.24 but is higher currently. Futures on US stock indices point to higher openings.

European indexes gain while DAX 30 slips

European stock indexes advanced fourth straight session on Tuesday buoyed by trade hopes as China’s Commerce Ministry said Chinese and US negotiators agreed on talks toward a preliminary “phase one” deal. The EUR/USD turned higher while GBP/USD slid yesterday with both pairs lower currently. The Stoxx Europe 600 ended 0.2% higher led by materials stocks. The German DAX 30 however slipped 0.1% to 13236.42. France’s CAC 40 added 0.1%. UK’s FTSE 100 advanced 0.1% to 7403.14.

Australia’s All Ordinaries Index still ahead Asian indexes

Asian stock indices are mostly higher today on the backdrop of President Donald Trump’s comment Tuesday that “We’re in the final throes of a very deal.” Nikkei rose 0.3% to 23437.77 with yen slide against the dollar intact. Chinese stocks are mixed as data showed Chinese industrial companies' profits contracted further in October: the Shanghai Composite Index is down 0.1% while Hong Kong’s Hang Seng index is 0.1% higher. Australia’s All Ordinaries Index extended gains 0.9% with Australian dollar resuming its slide against the greenback.

Brent steady

Brent futures prices are little changed today. Prices recovered yesterday: January Brent rose 0.9% to $64.27 a barrel on Tuesday. Trade group the American Petroleum Institute late Tuesday report indicated US crude supplies rose by 3.6 million barrels last week. Today at 16:30 CET the Energy Information Administration will release US Crude Oil Inventories.