S&P 500, Dow end at all-time high
US stocks logged record highs on Thursday on expectations of Senate approval of the tax overhaul bill. The dollar weakened yesterday: 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 0.17% lower at 93.114. Dow Jones industrial average jumped 1.4% to fresh record 24272.35. The S&P 500 gained 0.8% to all-time high 2647.58 led by energy and financial shares. All 11 main sectors finished higher. The NASDAQ Composite index closed up 0.7% to 6873.97.
Energy shares weigh on European indices
European stocks ended marginally lower on Thursday dragged by energy shares. Both the euro and British Pound rose against the dollar. The Stoxx Europe 600 index slipped 0.3%. Germany’s DAX 30 lost 0.3% to 13023.98. France’sCAC 40 fell 0.5% and UK’s FTSE 100 dropped 0.9% to 7326.67. Indices opened mixed today.
Asian markets up
Asian stock indices are mostly higher today. Nikkei rose 0.3% to 22795.30 despite renewed yen strength against the dollar. Chinese stocks are rising paring earlier losses: The Shanghai Composite Index is 0.01% higher while Hong Kong’sHang Seng Index is down 0.2%. Australia’s All Ordinaries Index is up 0.3% despite stronger Australian dollar against the greenback.
OPEC extends production cut by end of 2018
Oil futures prices are edging higher today. Prices rose yesterday as OPEC and major producers voted unanimously to extend their oil output cut deal to the end of December 2018. Brent for February settlement rose 0.2% to end the session at $62.63 a barrel on Thursday.