Global Equities Advance As Geopolitical Tensions Ease
IFC Markets | Sep 19, 2017 09:32AM ET
Dow and S&P 500 close at fresh record highs
US stocks advanced on Monday as North Korea tensions subsided. The dollar recovered: 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 0.2% to 92.022. S&P 500 closed 0.2% higher settling at record high 24503.87, led by financial and materials stocks. The Dow Jones industrial average rose 0.3% to 22331.35, fifth record close in a row. The NASDAQ Composite index added 0.1% closing at 6454.64.
European stocks rebound
European stock indices rebounded on Monday as investors’ risk appetite recovered following North Korea’s Friday launch of a missile over Japan. The euro rose against the dollar but British pound slipped. The Stoxx Europe 600 index rose 0.3%. The DAX 30 added 0.3% to 12559.39. France’s CAC 40 gained 0.3%. UK’s FTSE 100 rose 0.5% to 7253.28. Indices opened lower today.
Asian stocks retreat
Asian stock indices are mostly lower today. {{178|Nikkei}} jumped 2% to 20299.38 helped by yen weakness against the dollar as Japanese markets reopened after a public holiday Monday. Chinese stocks are retreating: the Shanghai Composite Index is down 0.4% and Hong Kong’s Hang Seng Index is 0.2% lower. Australia’s ASX All Ordinaries is down 0.1% as Australian dollar resumed the climb against the greenback.
Oil higher after lower Saudi output report
Oil futures prices are rising today supported by report Iraq’s crude oil production is at 4.32 million barrels per day (bpd) currently compared to almost 4.5 million bpd in May and June. Prices fell Monday after a report from the Energy Information Administration the US output from seven major shale plays is expected to climb 79,000 bpd in October, to 6.083 million bpd. November Brent crude rose 0.3% settling at $55.48 a barrel on London’s ICE Futures exchange on Monday.
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