Record Highs for Wall Street, Euro Falls By Over 1% Against USD on Monday
May 19, 2015 6:06 am
Asian shares shrugged off early losses on Tuesday, as rallying Chinese shares and Wall Street’s record close offset continuing worries over Greece’s fiscal woes whilst across the pond. The Dow Jones industrial average and S&P 500 ended at record highs on Monday, helped by a rally in Apple as well as tepid economic data suggesting the Federal Reserve may wait to raise interest rates. The S&P 500 racked up its third straight all-time high close, gaining 6 points to end at 2,129.2 points. The Dow rose 26 points to end at 18,298.88, beating its previous record close of 18,288.63 from March 2nd.
The Euro, which jumped to nearly four-month highs against the dollar last week, skidded more than 1% on Monday. It was last down about 0.1% on the day at $1.1310. Cable stood at $1.5656, off 5 1/2-month high of $1.5815. The Dollar also edged up to 119.92 Yen from last week’s low of 118.885. The Australian Dollar was steady at $0.7994 ahead of the minutes of the Australian Central Bank’s policy meeting due at 9.30 p.m.
U.S. crude futures edged up after slipping on Monday, boosted by the stronger Dollar as well as oversupply concerns triggered by Saudi Arabia’s report of its highest exports in nearly a decade. U.S. crude rose about 0.1% in Asian trade to $59.50 a barrel, while Brent edged down 0.1% to $66.18. Spot gold fell about 0.2% to $1,221.70 an ounce a day after it scaled a three-month high, as disappointing U.S. economic data quashed expectations that the Fed would hike interest rates anytime soon.
Within the equity space Vodafone posted a rise in its quarterly sales measurement for the first time in nearly three years on Tuesday, helped by improving trends in its key European markets and demand for 4G mobile services. The stock opened down 2% in early trade at 229p per share.
Asian shares shrugged off early losses on Tuesday, as rallying Chinese shares and Wall Street’s record close offset continuing worries over Greece’s fiscal woes whilst across the pond. The Dow Jones industrial average and S&P 500 ended at record highs on Monday, helped by a rally in Apple as well as tepid economic data suggesting the Federal Reserve may wait to raise interest rates. The S&P 500 racked up its third straight all-time high close, gaining 6 points to end at 2,129.2 points. The Dow rose 26 points to end at 18,298.88, beating its previous record close of 18,288.63 from March 2nd.
The Euro, which jumped to nearly four-month highs against the dollar last week, skidded more than 1% on Monday. It was last down about 0.1% on the day at $1.1310. Cable stood at $1.5656, off 5 1/2-month high of $1.5815. The Dollar also edged up to 119.92 Yen from last week’s low of 118.885. The Australian Dollar was steady at $0.7994 ahead of the minutes of the Australian Central Bank’s policy meeting due at 9.30 p.m.
U.S. crude futures edged up after slipping on Monday, boosted by the stronger Dollar as well as oversupply concerns triggered by Saudi Arabia’s report of its highest exports in nearly a decade. U.S. crude rose about 0.1% in Asian trade to $59.50 a barrel, while Brent edged down 0.1% to $66.18. Spot gold fell about 0.2% to $1,221.70 an ounce a day after it scaled a three-month high, as disappointing U.S. economic data quashed expectations that the Fed would hike interest rates anytime soon.
Within the equity space Vodafone posted a rise in its quarterly sales measurement for the first time in nearly three years on Tuesday, helped by improving trends in its key European markets and demand for 4G mobile services. The stock opened down 2% in early trade at 229p per share.
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