Sat, 30 May 2020

USD in demand, U.S. stocks sidelined

By Jay Jackson, Barbados News.Net
15 Mar 2019, 07:12 GMT+10

NEW YORK, New York - Wall Street dithered on Thursday, with the major indices fairly directionless for most of the day.

The U.S. dollar remained well bid, particularly in the UK as the British parliament continued to dither over its withdrawal from the European Union.

At the close of trading Thursday the Dow Jones industrials were ahead 7.05 points or 0.03% at 25,709.94.

The Standard and Poor's 500 lost 2.44 points or 0.09% to 2,808.48.

The Nasdaq Composite fell 12.50 points or 0.16% to 7,630.91.

On foreign exchange markets the euro dipped to 1.1303. The British pound continued its roller-coaster ride finishing the day in New York Thursday around 1.3237.

The Japanese yen weakened to 111.69, while the Swiss franc dipped to 1.0038.

The Canadian dollar slipped to 1.3328.

The Australian dollar was only a few basis points higher at 0.7066. The New Zealand dollar conversely gave up a little ground, to last trade at 0.6722.

Equity markets in Europe rose across the board on Thursday.  In London the FTSE 100 closed up 0.37%. The German Dax added 0.13%, and the Paris-based CAC 40 advanced 0.82%.

Asian markets were mixed. At the close of trading Thursday, the Australian All Ordinaries was up 20.80 points or 0.33% at 6,266.80.

In Tokyo, the Nikkei 225 was virtually unchanged, falling just 3.22 points or 0.02% to 21,287.02.

In Hong Kong, the Hang Seng closed up 43.94 points or 0.15% at 28,851.38.

China's Shanghai Composite finished down 36.27 points or 1.20% at 2,990.69.

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