All three major benchmarks close at records - 4.7.2019

DJI and Nasdaq join SP500’s record spree

US stock market closed at record on Wednesday in a short session ahead of July 4 holiday. The S&P 500 rose 0.8% to record 2995.82. The Dow Jones industrial average gained 0.7% to record high 26966. Nasdaq composite index advanced 0.8% to record 8170.23. The dollar strengthening resumed as the Automatic Data Processing Inc. reported the US private sector added 102,000 new jobs in June, below the 140,000 expected, but above the 41,000 jobs created in May. 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, inched up less than 0.01% to 96.75 and is higher currently. US financial markets will be closed today for the Independence Day holiday.

CAC 40 paces European indexes gains

European stocks rose sixth straight session on Wednesday as EU leaders agreed to nominate IMF chief Christine Lagarde as the new head of the ECB. EUR/USD joined GBP/USD’s continuing slide yesterday with Pound lower still currently while euro is higher. The Stoxx Europe 600 rose 0.8% led by travel and leisure shares. Germany’s DAX 30 added 0.7% to 12616.24. France’s CAC 40 advanced 0.8% and UK’s FTSE 100 gained 0.7% to 7609.32.

Australia’s All Ordinaries still ahead of Asian indexes

Asian stock indices are mixed today. Nikkei rose 0.3% to 21702.45 with yen flat against the dollar. Chinese stocks are falling despite White House economic adviser Larry Kudlow’s comment U.S. and Chinese negotiators would talk on the phone next week to set up a new round of meetings: the Shanghai Composite Index is down 0.3% and Hong Kong’s Hang Seng Index is 0.03% higher. Australia’s All Ordinaries Index extended gains 0.5% despite Australian dollar continuing climb against the greenback after report retail sales rose 0.1% in May.

Brent rose after third straight weekly decline is US inventories

Brent futures prices are inching lower today. Prices rebounded yesterday after the Energy Information Administration report US crude inventories declined by 1.1 million barrels last week while gasoline inventories dropped by 1.6 million. September Brent crude rose 2.3% to $63.82 a barrel on Wednesday.