US Stocks Slip On Shutdown Concern
IFC Markets | Jan 19, 2018 08:08AM ET
US indices retreat from records
US financial markets retreated on Thursday on uncertainty about the possible government shutdown. The dollar weakening resumed: 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, lost 0.6% to 90.489. Dow average fell 0.4% to 26017.81. The S&P 500 slipped 0.2% to 2798.03 led by energy and real estate shares. The NASDAQ composite lost less than 0.1% to 7296.05. Futures on indices indicate lower opening today.
Chinese data lift European stocks
European stocks rebounded on Thursday on better than expected Chinese GDP report. The euro joined the British Pound’s advance against the dollar. The Stoxx Europe 600 index rose 0.2%. Germany’s DAX 30 gained 0.7% to 13281.43. France’s CAC 40 added 0.02% while UK’s FTSE 100 lost 0.3% to 7700.96. Indices opened mixed today.
Asian stocks rise
Asian stock indices are mostly higher today. Nikkei rose 0.2% to 23815 despite continued yen weakening against the dollar. Chinese stocks are rising following late Thursday report of better than expected Q4 GDP: the Shanghai Composite Index is 0.4% higher and Hong Kong’s Hang Seng Index is up 0.1%. Australia’s All Ordinaries Index is down 0.2% as Australian dollar extends gains against the greenback.
Oil lower on rising US output
Oil futures prices are edging lower today on higher US domestic oil output data. Prices fell yesterday as US Energy Information Administration reported a rise of 258,000 barrels a day in total crude production to 9.75 million barrels a day though domestic crude supplies dropped 6.9 million barrels last week. Brent for March settlement fell 0.1% to end the session at $69.31 a barrel on Thursday.
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