U.S. Indices Record Fourth Straight Gain
IFC Markets | Feb 15, 2018 08:13AM ET
US markets calm despite rising inflation
US stocks advanced on Wednesday despite strong January inflation report. The dollar weakness persisted: the CAC 40 rose 1.1% and UK’s FTSE 100 advanced 0.6% to 7213.97. Indices opened 0.3%-0.8% higher today.
Asian markets rally
Asian stock indices are rising today. Nikkei ended 1.5% higher at 21464.98 despite unrelenting yen gains against the dollar. China’s markets are closed for Lunar New Year holiday, joining Taiwan. Hong Kong’s Hang Seng Index is up 1.6%. Australia’s ASX All Ordinaries added 1.2% despite Australian dollar continued advance against the greenback on solid job growth.
Brent higher on smaller US crude inventories rise
Brent futures prices are gaining today on weak dollar and Saudi statement the biggest OPEC producer would be sticking with the policy to withhold production throughout 2018. Prices fell yesterday after the US Energy Information Administration report crude inventories rose less than expected - 1.8 million barrels last week, while the American Petroleum Institute had forecast 3.9 million barrels increase. April Brent crude rose 2.6% to $64.36 a barrel on Wednesday.
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