Dow snaps nine session winning streak
US stocks slipped on Thursday led by consumer staples and technology shares. The dollar weakened: 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, fell 0.3% to 92.163. Dow Jones industrial average lost 0.2% to 22419.51 snapping nine-session winning streak, weighed by Procter & Gamble and Apple shares. The S&P 500 fell 0.3% settling at 2500.60 with nine out of 11 main sectors closing lower. The Nasdaq index dropped 0.5% closing at 6422.69.
European stocks advanced on Thursday led by bank shares. Both euro and British Pound resumed climbing against the dollar. The Stoxx Europe 600 closed 0.2% higher. Germany’s DAX 30 rose 0.3% to 12600.03. France’s CAC 40 outperformed gaining 0.5% while UK’s FTSE 100 fell 0.1% to 7263.90. Indices opened 0.2% lower today.
Asian markets lower after North Korea bomb test threat
Asian stock indices are mostly lower today after North Korea threatened to test a hydrogen bomb in the Pacific Ocean. Nikkei ended lower 0.3% at 20296.45 as yen gained against the dollar on the back of strong haven demand.. Chinese stocks are down after S&P Global Ratings downgraded China's long-term sovereign credit rating on Thursday citing increasing risks from heavy debt load: the Shanghai Composite Index is down 0.2% and Hong Kong’s Hang Seng Index is 0.7% lower. Australia’s All Ordinaries Index managed to rise 0.4% as the Australian dollar extended losses against the greenback after Australia’s central bank governor Lowe’s comment Thursday the central bank does not have to follow a general move globally to raise interest rates.
Oil higher ahead of OPEC meeting
Oil futures prices are inching higher ahead of a meeting of major oil producers today as they are expected to discuss the production cuts agreement progress and possibly extend the agreement beyond March 2018. Prices rose yesterday: Brent for November settlement rose 0.3% to end the session at $56.43 a barrel on the London-based ICE Futures exchange on Thursday.