NASDAQ Hits 5k, New Record Highs for the Dow and FTSE
March 3, 2015 7:56 am
Wall Street enjoyed another day of fresh highs yesterday, whilst a resurgent Yen helped knock the U.S. dollar index off an 11-year pinnacle. The Nasdaq on Monday closed above 5,000 for the first time since the year 2000 dot-com bubble as tech stocks were boosted by deals, while the S&P 500 and Dow indexes hit records after economic data pointed to a slowly accelerating economy. The Dow rose 153 points to close at 18,288, the S&P500 closed 12 points higher at 2,117.
The Dollar skidded about 0.4% against the Yen to 119.69, after touching a fresh three-week high of 120.27 earlier on Tuesday. The Yen’s ascent came after an adviser to Japan’s government reportedly said the Yen’s correction from its past excessive strength is likely complete. The Aussie Dollar was last up 0.8% at $0.7825 after going as low as $0.7751 earlier in the session as some investors bet that the RBA would cut rates. The Euro gained about 0.1% on the day to $1.1195.
Brent rose by 1.4% to $60.39 a barrel after plunging as much as 5% in the previous session. U.S. crude rose about 0.7% to $49.91. Spot gold recovered as the Dollar slipped, adding about 0.2% to $1,208.65 an ounce after touching a session low of $1,194.90. London copper slipped on Tuesday from a seven-week peak hit in the previous session as expectations of rising U.S. interest rates pushed up the Dollar and flattened commodity prices.
Barclays has set aside £750m more for potential foreign exchange fines and litigation as the British bank’s annual profits rose a higher-than-expected 12 percent thanks to a sharp cut in costs. The stock is down 3% in early trade at 255p per share.
Wall Street enjoyed another day of fresh highs yesterday, whilst a resurgent Yen helped knock the U.S. dollar index off an 11-year pinnacle. The Nasdaq on Monday closed above 5,000 for the first time since the year 2000 dot-com bubble as tech stocks were boosted by deals, while the S&P 500 and Dow indexes hit records after economic data pointed to a slowly accelerating economy. The Dow rose 153 points to close at 18,288, the S&P500 closed 12 points higher at 2,117.
The Dollar skidded about 0.4% against the Yen to 119.69, after touching a fresh three-week high of 120.27 earlier on Tuesday. The Yen’s ascent came after an adviser to Japan’s government reportedly said the Yen’s correction from its past excessive strength is likely complete. The Aussie Dollar was last up 0.8% at $0.7825 after going as low as $0.7751 earlier in the session as some investors bet that the RBA would cut rates. The Euro gained about 0.1% on the day to $1.1195.
Brent rose by 1.4% to $60.39 a barrel after plunging as much as 5% in the previous session. U.S. crude rose about 0.7% to $49.91. Spot gold recovered as the Dollar slipped, adding about 0.2% to $1,208.65 an ounce after touching a session low of $1,194.90. London copper slipped on Tuesday from a seven-week peak hit in the previous session as expectations of rising U.S. interest rates pushed up the Dollar and flattened commodity prices.
Barclays has set aside £750m more for potential foreign exchange fines and litigation as the British bank’s annual profits rose a higher-than-expected 12 percent thanks to a sharp cut in costs. The stock is down 3% in early trade at 255p per share.
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