Market Overview


US stocks extended gains on Wednesday despite the minutes of Federal Reserve’s May policy meeting showed policy makers agreed to begin shrinking the central bank’s balance sheet and pointed to a likely rate increase in June. The dollar resumed the slide: 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, closed down 0.28% at 97.08. The S&P 500 gained 0.3% settling at record high 2404.39, advancing for fifth consecutive session. The Dow Jones industrial average rose 0.5% to 21012.42. Nasdaq index added 0.4% to 6163.02.

US stocks ended higher on Tuesday fourth session in a row after the release of 2018 budget proposal by White House spurred expectations of progress with president Trump’s pro-growth policies like tax cuts and infrastructure investments. The dollar rebounded: 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, ended 0.4% higher at 97.355. Dow Jones industrial average rose 0.2% to 20937.91, led by Goldman Sachs and JP Morgan shares. The S&P 500 added 0.2% settling at 2398.42 led by financial and health-care stocks, with ten out of 11 main sectors ending higher. The Nasdaq index closed up less than 0.1% at 6138.71 in a choppy trade.

US stocks advanced on Monday third session in a row led by technology stocks. The dollar weakened slightly : 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, slipped 0.15% to 96.974. The Dow Jones industrial average rose 0.4% to 20894.83, led by Boeing and 3M shares, up 1.6% and 1.4% respectively. S&P 500 gained 0.5% settling at 2394.02 amid light trading led by technology, utility and industrial stocks. The Nasdaq composite index added 0.8% closing at 6133.62.

US stocks sold off on Wednesday as concerns about fallout from President Trump’s controversial firing of FBI director undermined investor confidence. The dollar tumbled: 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, closed down 0.85% at 97.372. The S&P 500 lost 1.8% settling at 2357.03 led by financial stocks, down more than 3%. The Dow Jones industrial average fell 1.8% to 20606.93 weighed by losses in Goldman Sachs and JP Morgan shares, down 5.3% and 3.8%. Nasdaq index slumped 2.6% to 6011.24.

US stocks ended lower on Tuesday on lackluster economic reports. The dollar accelerated the slide after weaker than expected housing data: 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, ended 0.7% lower at 98.214. Dow Jones industrial average fell less than 0.1% to 20979.75, with losses led by Nike, UnitedHealth and Pfizer outweighing gains in Microsoft and IBM. The S&P 500 slipped less than 0.1% settling at 2400.67 led by telecom and utilities stocks, with nine out of 11 main sectors ending in the negative territory. The Nasdaq index closed 0.3% higher at 6169.87, the second record high in a row.

US stocks advanced on Monday led by energy stocks following higher oil prices. The dollar weakened: 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, fell 0.3% to 98.895. The Dow Jones average rose 0.4% to 20981.94, led by Cisco and Johnson & Johnson, up 2.3% and 2.7%respectively. S&P 500 gained 0.5% settling at 2402.32, a fresh record high. The Nasdaq composite index added 0.5% closing at record high 6149.67.

US stocks closed marginally higher on Wednesday led by energy shares as oil advanced. The dollar inched higher as Treasury yields edged higher: 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, closed up 0.1% at 99.627. The S&P 500 added less than 0.1% settling at 2399.63 with eight out of 11 sectors ending higher, led by the energy sector up 1.1%. The Dow Jones industrial average fell 0.2% to 20943.11 weighed by Walt Disney and Boeing shares, down 2.15% and 1.25% respectively. Nasdaq index posted its fifth consecutive gain rising 0.1% to a record high 6129.14.

US stocks ended lower on Tuesday despite mostly upbeat earning reports as energy stocks fell with lower oil prices. The dollar continued strengthening as comments by central bank officials indicated Federal Reserve will implement the policy of gradual rate hikes: 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, ended 0.4% higher at 99.533. Dow Jones industrial average lost 0.2% to 20975.78, led by Chevron and Cisco shares, down 1.5% and 1.1% respectively. The S&P 500 slipped 0.1% settling at 2396.92 with seven of the 11 main sectors finishing in the red, led by utilities, energy and materials stocks. The Nasdaq index rose 0.3% to 6120.59, its 30th closing record of the year.

US stocks edged higher on Monday. The dollar strengthened as euro retreated following the expected win by establishment candidate Macron in Sunday’s runoff for the French presidential election: 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 0.6% to 99.159. The Dow Jones average rose less than 0.1% to 21012.28. S&P 500 ended up less than a point at record high 2399.38 led by energy stocks. The Nasdaq composite index gained 0.03% closing at record high 6102.66.

US stocks closed lower on Wednesday after the Federal Reserve left interest rates unchanged. The dollar inched higher as the Fed deemed first quarter GDP as ‘transitory’: 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, closed up 0.4% at 99.356. The S&P 500 lost 0.2% settling at 2388.13 led by materials and telecom stocks. The Dow Jones industrial average inched up less than 0.1% to 20957.90. Nasdaq index fell 0.5% 6072.55.

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