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Mon, 26th June 2017

Anirudh Sethi Report

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Overnight US Market :Dow closed +142 points.

The S&P 500 finished the day 0.7 per cent higher at 2,381.73 — despite the lat- week rally, it finished the week down 0.4 per cent. Meanwhile, the Dow Jones Industrial Average finished Friday 0.7 per cent higher at 20,804.84 but was off 0.4 per cent over the week.

The tech-heavy Nasdaq Composite climbed 0.5 per cent to 6,083.70 on Friday and clocked a 0.6 per cent loss over the week.

The jitters surrounding Mr Trump also took their toll on the dollar, which fell 2.1 per cent over the week for its biggest five-day drop since April 2016.

However, oil prices rallied ahead of next week’s Opec meeting, with markets expecting Opec and Saudi Arabia to agree to extend their output cut agreement by another six to nine months. West Texas Intermediate, the US crude marker, rose 5.3 per cent over the week to $50.37 a barrel, while Brent crude, the global oil benchmark, gained 5.6 per cent to $53.65 a barrel.

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