New High for S&P500, US Crude Rises by Almost 3% Overnight
May 22, 2015 6:26 am
Asian shares rose on Friday after Wall Street set another record high with prospects for a Federal Reserve rate hike in June all but quashed, while the Dollar was on the defensive after downbeat U.S. data. The S&P 500 closed at a record high on Thursday after disappointing economic data bolstered expectations that an interest rate hike is likely to come only later in the year. The Dow closed flat at 18,285, the SP500 gained 4 points to close at 2,129.
The Euro crept up 0.2 percent to $1.1140. It had hit a three-week low of $1.1062 earlier this week amid Greek debt concerns and was poised to lose 2.7 percent on the week. The Dollar also eased slightly to 120.79 Yen after losing 0.3 percent overnight to end a five-day winning run. The Greenback scaled a two-month peak of 121.49 midweek on bets that the currency was ready for a run higher after weeks in the doldrums. Sterling inched up 0.1 percent to $1.5671, on a bullish footing after rallying 0.8 percent the previous day on stronger-than-expected British Retail sales.
U.S. crude took a breather, inching down 0.2 percent to $60.60, after surging nearly 3 percent overnight on data that eased supply glut concerns and fighting in Iraq. Brent dipped 0.2 percent to $66.42 a barrel after rising 2.3 percent.
Asian shares rose on Friday after Wall Street set another record high with prospects for a Federal Reserve rate hike in June all but quashed, while the Dollar was on the defensive after downbeat U.S. data. The S&P 500 closed at a record high on Thursday after disappointing economic data bolstered expectations that an interest rate hike is likely to come only later in the year. The Dow closed flat at 18,285, the SP500 gained 4 points to close at 2,129.
The Euro crept up 0.2 percent to $1.1140. It had hit a three-week low of $1.1062 earlier this week amid Greek debt concerns and was poised to lose 2.7 percent on the week. The Dollar also eased slightly to 120.79 Yen after losing 0.3 percent overnight to end a five-day winning run. The Greenback scaled a two-month peak of 121.49 midweek on bets that the currency was ready for a run higher after weeks in the doldrums. Sterling inched up 0.1 percent to $1.5671, on a bullish footing after rallying 0.8 percent the previous day on stronger-than-expected British Retail sales.
U.S. crude took a breather, inching down 0.2 percent to $60.60, after surging nearly 3 percent overnight on data that eased supply glut concerns and fighting in Iraq. Brent dipped 0.2 percent to $66.42 a barrel after rising 2.3 percent.
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