Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

Nasdaq hits record closing high again; euro recovers

share with twitter share with LinkedIn share with facebook
share via e-mail
06/05/2018 | 11:57pm CEST
Visitors look at the TSE bourse in Tokyo

NEW YORK (Reuters) - The Nasdaq hit a record closing high for the second day in a row on Tuesday, helped by tech and consumer discretionary shares, while the euro recovered after Italy's new prime minister said the government had never considered leaving the euro zone.

Shares of Amazon, Apple and Netflix all rose. Upbeat economic data also helped the S&P 500 eke out a small gain.

But gains in equities were limited by worries about trade discussions. White House economic adviser Larry Kudlow said President Donald Trump may seek separate talks with Canada and Mexico in a bid to get individual trade deals with the two countries.

Mexico responded to Trump's metals tariffs by imposing its own duties on American steel, while also targeting agricultural products from pork to bourbon.

Trump's administration imposed tariffs of 25 percent on imported steel and 10 percent on aluminium in March, citing national security grounds.

The market "continues to focus on one of two big issues - where we're headed with the trade negotiations - NAFTA, China and tariffs with Europe. That's probably the biggest concern for investors. But, on the positive side, (are) the economy's strength and earnings' strength," said Rick Meckler, partner at Cherry Lane Investments, a family investment office in New Vernon, New Jersey.

The U.S. services sector activity accelerated in May, pointing to robust economic growth in the second quarter.

The Dow Jones Industrial Average fell 13.71 points, or 0.06 percent, to 24,799.98, the S&P 500 gained 1.93 points, or 0.07 percent, to 2,748.8 and the Nasdaq Composite added 31.40 points, or 0.41 percent, to 7,637.86.

MSCI's gauge of stocks across the globe <.MIWD00000PUS> shed 0.13 percent, while the pan-European FTSEurofirst 300 index <.FTEU3> lost 0.32 percent.


Comments by Italian Prime Minister Giuseppe Conte caused the dollar to fall and reverse gains to a near six-month high, as the euro recovered.

The euro rose 0.1 percent against the dollar to $1.1712 <EUR=>. The dollar index <.DXY>, tracking it against a basket of major currencies, fell 0.15 percent.

The Mexican peso <MXN=> gained 0.10 percent versus the U.S. dollar at 20.43. The Canadian dollar <CAD=D4> rose 0.01 percent versus the greenback at 1.30 per dollar.

Earlier, the Mexican peso and Canadian dollar fell against the dollar as the latest developments in the growing trade conflict between the United States and its neighbours prompted selling in the currencies.

U.S. Treasury yields fell as traders piled back into lower-risk government debt, however, after Conte vowed to enact economic policies that could add to the nation's debt load.

Benchmark 10-year U.S. Treasury notes <US10YT=RR> last rose 3/32 in price to yield 2.9259 percent, from 2.937 percent late on Monday.

Copper hit a six-week high as concerns about the potential supply impact of wage negotiations at the world's biggest copper mine helped push prices back above $7,000 a tonne.

Copper rose 2.04 percent to $7,117.00 a tonne.

Oil prices ended higher. U.S. crude rose 77 cents to settle at $65.52 a barrel, while Brent gained 9 cents to settle at $75.38.

Flying FAANGs -

Emerging markets in 2018 - http://tmsnrt.rs/2ihRugV

MSCI All Country Wolrd Index Market Cap - http://tmsnrt.rs/2EmTD6j

Global currencies vs. dollar - http://tmsnrt.rs/2egbfVh

(Reporting by Caroline Valetkevitch in New York; Additional reporting by Richard Leong, Sinead Carew and Gertrude Chavez-Dreyfuss in New York, Medha Singh in Bengaluru, Marc Jones and Helen Reid in London and Danilo Masoni in Milan; Editing by David Gregorio and James Dalgleish)

By Caroline Valetkevitch

Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM 0.04% 1731.11 Delayed Quote.48.34%
APPLE 0.24% 185.9361 Delayed Quote.10.21%
DJ INDUSTRIAL 0.69% 24629.25 Delayed Quote.-0.25%
NASDAQ 100 0.02% 7220.2362 Delayed Quote.13.00%
NASDAQ COMP. -0.05% 7709.8301 Delayed Quote.11.91%
S&P 500 -0.63% 2749.76 Real-time Quote.3.33%
US DOLLAR INDEX -0.34% 94.74 End-of-day quote.3.14%
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news "Economy & Forex"
07:20pPlatts revises LNG spot assessment process after Vitol submissions
07:16pNEWS HIGHLIGHTS : Top Global Markets News of the Day
07:16pNEWS HIGHLIGHTS : Top Company News of the Day
07:07pUber car's 'safety' driver streamed TV show before fatal crash - police
07:07pHALIFAX REGIONAL MUNICIPALITY : St. Margaret’s Bay Road (Timberlea Village Parkway) – Road Construction
07:03pCITIZENS FOR RESPONSIBILITY AND ETHICS IN WASHINGT : Crew files criminal, ethics complaints against wilbur ross
07:03pU S SENATE COMMITTEE ON FINANCE : Wyden Questions Secretary Ross on Timing and Circumstances of Stock Trade
07:01pU.S. unveils new veto threat against WTO rulings
06:58pMAINE FARM BUREAU : quoted in new town ordinance change – 6/21/18, BDN
Latest news "Economy & Forex"