Dow edges higher led by Boeing data
US stock market slide continued on Monday. The S&P 500 slipped 0.1% to 2798.36. Dow Jones industrial however managed to end 0.1% higher at 25516.83 thanks to Boeing 2.3% rebound. The Nasdaq composite slid 0.1% to 7637.54. The dollar weakened: 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 0.1% to 96.482 but is higher currently. Futures on US stock indexes indicate higher openings today.
Brexit vote uncertainty weighs on European indices
European stocks slide continued on Monday as investors confidence was undermined by yield curve Friday inversion - turning negative of spread between three-month and 10-year US bond yields. The GBP/USD turned lower while EUR/USD turned higher with both pairs lower currently. The Stoxx Europe 600 index lost 0.5% with all sectors down. The DAX 30 slid 0.2% to 11346.65 as Germany’s IFO Institute business climate index rose, beating a consensus forecast. France’s CAC 40 slipped 0.2% and UK’s FTSE 100 fell 0.2% to 7177.58.
Nikkei rebounds with Asian indices mixed
Asian stock indices are mixed today as 10-year U.S. Treasury yield edged up to 2.442 percent . Nikkei rebounded 2.2% to 21428.39 as yen slide against the dollar accelerated. Markets in China are lower: the Shanghai Composite Index is down 1.5% and Hong Kong’s Hang Seng Index is 0.2% lower. Australia’s All Ordinaries Index recovered 0.1% despite Australian dollar continued climb against the greenback.
Brent up
Brent futures prices are extending gains today still supported by OPEC supply cuts. Prices gained yesterday: May Brent crude rose 0.3% to $67.21 a barrel on Monday.