Dow records eighth straight gain
US stock markets recorded hefty gains on Tuesday with all three main indices ending at new all-time highs. The dollar strengthened: 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 0.5% at 101.461. The S&P 500 gained 0.6% settling at 2365.12 led by real estate and consumer staples stocks with all eleven of the S&P 500′s primary sectors ending higher. The Dow Jones industrial rose 0.6% to close at 20737.83 led by Wal-Mart and UnitedHealth shares. The blue chip index rose for an eighth straight session. The Nasdaq index closed up 0.5% at record high of 5865.95.
European shares rise on upbeat manufacturing data
European stocks advanced on Tuesday with market sentiment buoyed by upbeat euro-zone data. However, the euro weakened against the dollar on heightened political uncertainty while the British Pound edged higher against the greenback. The Stoxx Europe 600 rose 0.6%. Germany’s DAX 30 outperformed rising 1.2% to 11967.49 helped by gains in exporter stocks benefitting from weaker euro. France’s CAC 40 added 0.5% while UK’s FTSE 100 index fell 0.3% to 7274.83 weighed by 6.5% plunge in shares of HSBC after the bank reported a fourth-quarter net loss of $4.23 billion, much bigger than the $1.33 billion loss a year.
Asian stocks mixed
Asian stocks are mixed today as investors await the minutes from Fed’s February policy meeting for clues about the likelihood of a March rate hike. Nikkei ended 0.01% lower at 19379.87 today on stronger yen. Bank of Japan Governor Haruhiko Kuroda said today that pushing rates further into negative territory from current minus 0.1% was off the table, mentioning improved inflation outlook as Japan’s growth accelerates. The Shanghai Composite Index is down 0.2% as data showed China's home price growth slowed for the fourth straight month with demand cooling further in its biggest cities while Hong Kong’s Hang Seng Index is 0.9% higher rebounding from previous day’s pullback. Australia’s All Ordinaries Index is up 0.25% despite stronger Australian dollar.
Oil prices steady
Oil futures prices are steady today after OPEC signaled optimism over its deal with other major producers to curb output about 2% globally, or 1.8 million barrels daily. At the same time OPEC’s Secretary-General Mohammad Barkindo played down talk of a six-month extension to that global production agreement at a conference in London. April Brent crude closed 0.9% higher at $56.66 a barrel on Tuesday on London’s ICE Futures exchange.