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US stocks advance paused on higher China infection indications - 14.2.2020

14/2/2020

Dollar strengthening slows

US stock market rally paused on Thursday against the background of an increase in China’s coronavirus infection cases as new methodology was applied. The S&P 500 lost 0.2% to 3373.94. The Dow Jones industrial average slid 0.4% to 29423.3. Nasdaq composite index slipped 0.1% to 9711.97. The dollar strengthening slowed as January consumer prices increase slowed to 0.1% over month from 0.2% while the number of people applying for first time jobless benefits rose by 2,000 to 205,000 last week: 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 0.1% to 99.09 and is higher currently. Futures on stock indexes point to lower openings today.

FTSE 100 led European indexes retreat

European stocks puled back on Thursday. EUR/USD continued sliding while the GBP/USD climbed higher yesterday with the dynamics for both pairs holding currently. The Stoxx Europe 600 index lost 0.15% led by energy shares. Germany’s DAX 30 slipped 0.03% to 13745.43. France’s CAC 40 slid 0.2% while UK’s FTSE 100 fell 1.1% to 7452.03 as British Prime Minister Boris Johnson appointed new finance minister.

GB100 falls below MA(50) 2/14/2020 Market Overview IFC Markets chart

Nikkei fell while other Asian indexes gain

Asian stock indices are mixed today. Nikkei ended down 0.6% at 238687.59 with yen advance against dollar intact. Markets in China are rising despite reports 121 more people had died and there were 5,090 new COVID-19 confirmed cases: the Shanghai Composite Index is up 0.4% while Hong Kong’s Hang Seng Index is 0.3% higher. Australia’s All Ordinaries Index recovered 0.4% despite resumed Australian dollar climbing against the greenback.

Brent edges up

Brent futures prices are extending gains today. Prices ended higher yesterday: April Brent crude rose 1% to $56.34 a barrel on Thursday.

Gold slips

Gold prices are retracing lower today. Prices rose yesterday: April gold added 0.5% to $1578.80 an ounce on Thursday.


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