US indices slip on weak data
US markets ended lower on Monday. The dollar rebounded: the live dollar indexdata show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, inched up 0.15% to 96.817. S&P 500 ended lower 0.1% settling at 2436.10 led by utilities and materials stocks with seven out of 11 main sectors finishing lower. The Dow Jones industrial average slipped 0.1% to 21184.01 led by Apple and United Technologies stocks. The Nasdaq composite index lost 0.2% closing at 6295.68.
Banco Popular Espanol leads European equities lower
European stock indices ended lower on Monday as markets in Germany, Switzerland, Norway, Denmark, Austria, Greece and Ireland were closed for a public holiday. The euro slipped while the British Pound managed to end higher against the dollar. The Stoxx Europe 600 index lost 0.1%. France’s CAC 40 fell 0.7% and UK’s FTSE 100 ended lower 0.3% at 7525.76.
Asian stocks track Wall Street
Asian stock indices are mostly down today. Nikkei ended 1% lower at 19979.90 today with yen resuming gains against the dollar. Chinese stocks are lower: the Shanghai Composite Index is down 0.1%, while Hong Kong’s Hang Seng Index is 0.3% higher supported by demand from Chinese funds under the Stock Connect program. Australia’s All Ordinaries Index is down 0.9%, with the Australian dollar little changed after the current account deficit narrowed to its smallest in more than 15 years last quarter. In a widely expected decision the Reserve Bank of Australia left the rates at a record low 1.5% after last easing in August of 2016.
Oil down on rising Middle East tensions
Oil futures prices are declining today on concerns rising tensions between OPEC members may result in falling apart of the output cut agreement. Prices fell on Monday as Saudi Arabia and three other countries cut ties with Qatar, raising uncertainty about Middle East oil production. August Brent crude lost 1% settling at $49.47 a barrel on Monday on London’s ICE Futures exchange.