Stocks end mostly lower after volatile day - 24.9.2019

Dollar strengthening continues on strong Markit data

US stocks ended marginally lower on Monday underpinned by positive data and news Chinese importers bought about 10 boatloads of US soybeans totaling 600,000 tons. The S&P 500 finished 0.01% lower at 2991.77. Dow Jones industrial added 0.1% to 26949.99. The Nasdaq composite fell 0.1% to 8112.46. The dollar strengthening was intact as Markit’s manufacturing index rose to a five-month high of 51 in August: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, rose 0.2% to 98.62 and is higher currently. Stock index futures point to higher openings today.

CAC 40 posts biggest loss among European indexes

European stocks pulled back on Monday on disappointing euro-zone data. Both GBP/USD and EUR/USD kept sliding yesterday with Pound turning higher while euro still lower against dollar currently. The Stoxx Europe 600 index ended 0.8% lower as Markit reported manufacturing activity in the eurozone contracted more sharply in September, with manufacturing PMI falling to lowest reading in nearly seven years. The DAX 30 lost 1% to 12342.35 as Markit data showed Germany’s manufacturing PMI fell to 41.4 in September, its worst reading in a decade and composite PMI came in at 49.1 down from 51.7 in the previous month. France’s CAC 40 dropped 1.1% as expansion slowed in both manufacturing and services sectors. UK’s FTSE 100 slid 0.3% to 7326.08.

Hang Seng leads Asian indexes gains

Asian stock indices are recovering today. Nikkei rose 0.1% to 22098.84 as yen slide against the dollar resumed after Markit report factory activity slowed in Japan in August. Markets in China are rising as the governor of People’s Bank of China said PBOC won’t ease monetary policy as aggressively as other global central banks, as the economy is still performing within expectations: the Shanghai Composite Index is up 0.3% and Hong Kong’s Hang Seng Index is 0.4% higher. Australia’s All Ordinaries Index turned lower 0.01% despite Australian dollar slide against the greenback.

Brent down

Brent futures prices are edging lower today after gains Monday on continued tensions in Middle East. Prices rose yesterday: November Brent crude closed 0.8% higher at $64.77 a barrel on Monday.