Market Overview

US stocks ended higher on Friday recovering from earlier losses as President Trump told he hasn’t yet approved revoking reciprocal import duties in stages together with China. The S&P 500 advanced 0.3% to fresh record 3093.08, narrowing its weekly gain to 0.8%. Dow Jones industrial added 0.02% to 27681.20. The Nasdaq rose 0.5% to 8475.31. The dollar strengthening continued at stable pace as the University of Michigan consumer sentiment index rose to 95.7 from 95.5 in October instead of a decline. 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 98.35 but is lower currently. Futures on US stock indices point to lower openings.

US stocks extended gains on Thursday despite mixed reports about opposition in Washington to a new agreement with Beijing to cancel mutual tariffs in stages. The S&P 500 gained 0.3% to 3085.18. The Dow Jones industrial average rose 0.7% to 27674.80. Nasdaq composite index added 0.3% to 8434.52. The dollar strengthening accelerated as data showed initial jobless claims were below forecast. 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 98.13 but is lower currently. Futures on US stock indices point to mixed openings.

US stocks recorded another session of mixed performance on Wednesday after reports of possible delay of China-US trade deal until December. The S&P 500 rose 0.07% to 3076.78. The Dow Jones industrial average slipped less than a point to 27492.50. Nasdaq lost 0.3% to 8410.63. The dollar strengthening continued as Chicago Fed President Charles Evan said the US economy may not need additional interest rate cuts. 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, added 0.04% to 97.94 and is higher currently. Futures on US stock indices point to higher openings.

US stocks pulled back on Tuesday despite positive data. The S&P 500 slipped 0.1% to 3074.67. The Dow Jones industrial average however gained 0.1% to new record 27492.63. Nasdaq added 0.02% to 8434.68. The dollar strengthening was intact as the Institute of Supply Management’s service sector activity index rose to 54.7% in October, up from 52.6% in September. 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 0.3% to 97.90 and is higher currently. Futures on US stock indices point to lower openings.

US stocks rally continued on Monday as China deal optimism and positive earnings reports supported risk appetite. The S&P 500 finished 0.4% higher at new record high 3078.27. Dow Jones industrial added 0.4% to 27462.11. The Nasdaq composite rose 0.6% to 8432.20. The dollar weakening halted as Federal Reserve Minneapolis Fed President Neel Kashkari said the central bank may not cut rates further as long as US economy growth remained robust: 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 0.4% to 97.56 but is lower currently. Futures on US stock indices point to higher openings.

US stocks ended sharply higher on Friday on better than expected jobs report. The S&P 500 advanced 1% to fresh high 3066.91, widening its weekly gain to 1.9%. Dow Jones industrial gained 1.1% to 27347.36. The Nasdaq rose 1.1% to 8386.40. The dollar weakening continued despite US economy adding higher than expected 128 thousand new jobs in October. 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 0.1% to 97.18 and is lower currently. Futures on US stock indices point to higher openings.

US stocks gave back most of previous session gains on Thursday on mixed corporate reports and data . The S&P 500 lost 0.3% to 3037.56. The Dow Jones industrial average fell 0.5% to 27046.23. Nasdaq composite index slipped 0.1% to 8292.36. The dollar weakening continued as data showed core inflation ticked lower and initial jobless claims edged up, while Chicago Fed purchasing managers index fell in October when an increase was expected. 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 0.1% to 97.32 and is lower currently. Futures on US stock indices point to higher openings.

US stocks resumed advancing on Wednesday as the Federal Reserve announced 3rd cut in interest rates this year. The S&P 500 rose 0.3% to new record 3046.77. The Dow Jones industrial average rose 0.4% to 27186.69. Nasdaq gained 0.3% to 8303.98. The dollar weakening accelerated as GDP ticked down to 1.9% from 2% in Q2 and Fed cut its benchmark fed funds rate by 0.25% to between 1.50% and 1.75% signaling no further cuts in the near future . 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 0.2% to 97.44 and is lower currently. Futures on US stock indices point to higher openings.

US stocks pulled back on Tuesday on mixed earnings reports. The S&P 500 slipped 0.1% to 3036.89. The Dow Jones industrial average slid 0.1% to 27071.42 weighed by 2.1% drop in Google’s parent Alphabet on earnings miss. Nasdaq fell 0.6% to 8276.85. The dollar weakening was intact despite better than expected pending homes sales in September. 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 0.1% to 97.68 but is higher currently. Federal Reserve is expected to cut rates a third time today. Futures on US stock indices point to lower openings.

US stocks broadened gains on Monday as president Trump said US and China were going “probably to be ahead of schedule” with signing the phase one trade deal. The S&P 500 finished 0.6% higher at new record high 3044.08. Dow Jones industrial added 0.5% to 27090.72. The Nasdaq composite rose 1% to 8325.99. The dollar strengthening halted as Chicago Fed National Activity Index turned negative for September while US trade deficit narrowed more than expected: 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 0.05% to 97.75 but is higher currently. The Fed tow-day policy meeting starts today, and futures on US stock indices point to mixed openings.

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