US indexes rise third straight session on trade hopes
Dollar strengthens on strong JOLTS report
US stock market ended higher third straight session on Tuesday lifted by investor optimism after reports that US and China 'narrow differences on trade'. The S&P 500 gained 1% to 2574.41. Dow Jones rose 1.1% to 23787.45. The Nasdaq climbed 1.1% to 6897. The dollar strengthened as data showed the number of new job openings still outnumbered unemployed Americans in November despite a decline from October. 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 0.3% to 95.89 but is lower currently. Stock index futures indicate higher openings today.
CAC 40 outperforms other European indexes
European stock marlets advanced on Tuesday. Both GBP/USD and EUR/USD turned lower but are higher currently. The Stoxx Europe 600 gained 0.9%. The German DAX 30 added 0.5% to 10803.98 despite a surprise decline in industrial production in November, France’s CAC 40 rallied 1.2% and UK’s FTSE 100 rose 0.7% to 6861.60.
Hang Seng leads Asian indices gains
Asian stock indices are rising today boosted by Trump’s tweet overnight talks in Beijing were “going very well”. Nikkei extended gains 1.1% to 20427.06 as yen slide against the dollar persisted. Chinese stocks turned higher: the Shanghai Composite Index is up 0.7%, and Hong Kong’s Hang Seng index is 2.1% higher. Australia’s All Ordinaries Index rose 1% despite the Australian dollar resuming its climb against the greenback.
Brent advance continues
Brent futures prices are extending gains today. Prices ended higher yesterday on reports OPEC oil production fell in December to a 6-month low. The American Petroleum Institute late Tuesday report indicated US crude inventories dropped by 6.1 million barrels last week. February Brent rallied 2.4% to $58.72 a barrel on Tuesday. Today at 16:30 CET the Energy Information Administration will release US Crude Oil Inventories.
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