US indices edge higher as oil rises
US stock indices closed marginally higher on Monday led by energy stocks as investors were cautious to make big bets ahead of earnings season. The dollar inched lower pulling back after a rally following rising geopolitical tensions as US struck a Syrian air base : 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, edged lower 0.1% to 101.014. The Dow Jones average rose 1.92 mpoints to 20658.02 paring earlier losses, led by Caterpillar and Traverels shares. S&P 500 ended up 1.62 points to 2357.16 with energy and real estate stocks leading the advancers, up 0.8% and 0.7% respectively. The Nasdaq composite index added 3.11 points to 5880.93.
French stocks fall on political uncertainty
European stocks European stocks closed fractionally lower on Monday near 16 month highs as investor confidence was undermined by geopolitical tensions following the US missile strike against Syria last Friday after a suspected chemical weapons attack that killed civilians. Both the euro and British Pound strengthened against the dollar. The Stoxx Europe 600 index fell less than 0.1%. The DAX 30 lost 0.2% to close at 12200.52. France’s CAC 40 lost 0.5% lower and UK’s FTSE 100 slipped less than 0.1% settling at 7348.94.
Asian markets mixed
Asian stock indices are mixed today amid growing geopolitical tensions after President Trump ordered US missile strike on a Syrian air base and sent US Navy strike group toward the western Pacific Ocean near the Korean peninsula. Nikkei dropped 0.3% to 18747.87, with yen extending gains against the dollar on back of stronger haven demand and hurting exporter stocks. Chinese stocks are higher with the Shanghai Composite Index 0.6% higher while Hong Kong’s Hang Seng Index is 0.7% lower. Australia’s All Ordinaries Index ended 0.3% higher after National Australia Bank Business Confidence index hit the highest level in a decade with the Australian dollar extended gains against the dollar.
Oil prices lower
Oil futures prices are pulling back today as rising US shale oil production offset concerns over geopolitical tensions in the Middle East. Prices rose the previous day as Libya's Sharara oilfield was shut on Sunday after a group blocked a pipeline linking it to an oil terminal, supporting the rally that started last week. May Brent crude closed 1.3% higher at $55.98 a barrel on Monday on London’s ICE Futures exchange.