US stocks advance paused on higher China infection indications


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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