Nasdaq closes at new record high
US stocks resumed advances on Tuesday on strong corporate reports. The dollar was little changed: 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 fractionally higher at 94.545. The S&P 500 added less than 0.1% to 2575.26 led by consumer stocks. The broad stock market index gained 2.2% for the month. Dow Jones industrial average rose 0.1% to 23377.24. The NASDAQ Composite index rose 0.4% closing at record high 6727.67.
European stocks rise as euro-zone growth accelerates
European stocks extended gains on Tuesday on reports euro-zone economy grew faster than expected in the third quarter. The euro and British Pound added to gains against the dollar. The Stoxx Europe 600 rose 0.4%. German stock market was closed for a bank holiday. France’s CAC 40 closed 0.2% higher and UK’s FTSE 100 added 0.1% to 7493.08. Markets opened 0.1%-0.2% higher today.
Nikkei leads Asian stock indices higher
Asian stock indices are higher today as continuing global economic growth boosted investor risk appetite. Nikkei jumped 1.9% to 22420.08 on weaker yen against the dollar. Chinese stocks are higher: the Shanghai Composite Index is 0.1% higher and Hong Kong’s Hang Seng Index is up 1.0%. Australia’s ASX All Ordinaries gained 0.5% despite stronger Australian dollar against the greenback.
Oil higher ahead of US crude stock report
Oil futures prices are rising today on reports OPEC has significantly improved compliance with its pledged supply cuts. Prices rose yesterday on Saudi Crown Prince Mohammed bin Salman’s commitment, made over the weekend, to extend the OPEC production cut agreement with Russia until the end of 2018. The American Petroleum Institute industry group said late Tuesday US crude stocks declined by 7.7 million barrels last week. December Brent crude rose 0.8% to $61.37 a barrel on Tuesday. Today at 16:30 CET the Energy Information Administration will release US Crude Oil Inventories.