IFC Markets Forex Broker

Market Overview

US stock market rebounded on Monday as positive data supported confidence in US economic health. The S&P 500 gained 0.2% to 2637.72. Dow Jones industrial added 0.1% to 24423.26. The Nasdaq composite index rose 0.7% to 7020.52. The dollar turned sharply higher as US job openings rose to 7.08 million 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, jumped 0.6% to 97.20 but is lower currently. Futures on stock indexes indicate higher openings today.

US stock market extended losses on Friday amid US-China trade prospects uncertainty. S&P 500 fell 2.3% to 2633.08, closing 4.8% lower for the week. Dow Jones industrial average lost 2.2% to 24388.95. The Nasdaq dropped 3.1% to 6969.25. The dollar weakening continued as softer than expected November jobs report supported the view Federal Reserve may slow its tightening pace as it takes into account declining inflationary pressures: 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 96.573 and is lower currently. Futures on stock indexes point to lower openings today.

US stock market ended lower on Thursday paring earlier sharp losses as traders wondered what would be the impact of a Huawei executive arrest on US-China relations. The S&P 500 lost 0.2% to 2695.95. The Dow Jones industrial average slid 0.3% to 24947.67. Nasdaq composite index however advanced 0.4% to 7188.26. The dollar weakening resumed as data showed factory orders fell 2.1% in November while unit labor costs rose less than initially estimated: 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, slid 0.1% to 96.75 but is higher currently. Futures on stock indexes point to lower openings today.

US stock market is poised to reopen sharply lower today after a day-off on Wednesday for the funeral of the former President George H.W. Bush. Futures on US stock indexes plunged after news Canada arrested a top executive of Chinese telecom giant Huawei Technologies at the request of the US. The S&P 500 dropped 3.2% to 2700.06 on Tuesday led by finance and industrial shares. The Dow Jones industrial average tumbled 3.1% to 25027.07. Nasdaq composite index sank 3.8% to 7158.43. The dollar strengthening continued: 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, inched up 0.03% to 96.99 and is higher currently.

US stock market slumped on Tuesday wiping prior session gains spurred by US-China trade tensions easing after Trump-Xi meeting over the weekend. The S&P 500 dropped 3.2% to 2700.06 led by finance and industrial shares. Dow Jones industrial average tumbled 3.1% to 25027.07. The Nasdaq sank 3.8% to 7158.43. The dollar strengthening resumed despite the yield on five-year government debt sliding below the yield on three-year debt on Monday, known as inverting of the yield curve. 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, inched up 0.02% to 96.956 and is higher currently. US market is closed today for the funeral of the former President George H.W. Bush, who died Friday at 94.

US stock market extended gains on Monday after President Trump and Chinese leader Xi Jinping agreed over the weekend to launch negotiations to settle trade disagreements while suspending application of any new tariffs for 90 day period. The S&P 500 rose 1.1% to 2790.37. Dow Jones industrial gained 1.1% to 25826.43. The Nasdaq composite index rallied 1.5% to 7441.515. The dollar weakened on mixed data as Institute of Supply Management’s PMI gauge rose to 59.3 in November while construction spending fell 0.1% on month 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, fell 0.2% to 96.92 and is lower currently. Futures on three main US stock indexes indicate lower openings today.

US stocks rebounded on Friday after US Trade representative Lighthizer’s comment he would be “very surprised” if the dinner between Trump and Xi at the Group of 20 “was not a success.” S&P 500 rose 0.8% to 2760.17, closing 4.9% higher for the week. Dow Jones industrial average gained 0.8% to 25538.46. The Nasdaq added 0.8% to 7330.54. The dollar resumed strengthening: 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 97.17 but is lower currently. Futures on three main US stock indexes point to higher openings today.

US stock market pulled back on Thursday as traders wondered what would be the outcome of G-20 meeting starting today. The S&P 500 lost 0.2% to 2737.83. The Dow Jones industrial average slipped 0.1% to 25338.84. Nasdaq composite index fell 0.3% to 7273.08. The dollar weakening slowed as the Fed minutes showed policy makers were planning to raise interest rates “fairly soon” while saying monetary policy in 2019 needed to be flexible: 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, slid 0.1% to 96.77 but is lower currently. Futures on three main US stock indexes point to mixed openings today.

US stock market rallied on Wednesday on dovish comments by Federal Reserve chair Powell. The S&P 500 surged 2.3% to 2743.82. The Dow Jones industrial average rose 2.5% to 25366.43. Nasdaq composite index rallied 3% to 7291.59. The dollar weakening resumed after Powell’s comment the interest rate is now “just below” estimates of a level that neither slows nor stimulates the economy: 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 0.5% to 96.82 and is lower currently. Futures on three main US stock indexes indicate lower openings today.

US stock market recovery continued on Tuesday. The S&P 500 added 0.3% to 2628.20 led by healthcare and consumer staples shares. Dow Jones industrial average rose 0.4% to 24748.73. The Nasdaq ended 0.85 points higher at 7082.70. The dollar strengthening accelerated despite S&P/Case-Chiller 20-city Index showed home prices across the country rose in September at the slowest pace in nearly two years. 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 97.33 but is lower currently. Futures on three main US stock indices point to higher openings today.

Start trading with IFC Markets