Sun, 28th May 2017

Anirudh Sethi Report


Overnight US Market :Dow closed + 8 points.

Stocks finished mixed Thursday, with the Dow inching up to a new all-time closing high as the Nasdaq and S&P 500 pulled back from their record closes set Wednesday.

The Dow Jones industrial average rose 8 points, less than 0.1%, to 20,619.77.

Losing a little less than 0.1% each were the Nasdaq and the S&P 500, which both snapped seven-day winning streaks.

Benchmark U.S. crude gained 25 cents to $53.36 per barrel. The contract finished 9 cents lower on Wednesday.

On Wednesday, reports of stronger retail sales and inflation showed that the U.S. economy was stronger than expected. Consumer prices rose 2.5% in January from a year earlier, the highest rate since March 2012. The data give the Federal Reserve more encouragement to raise interest rates, and economists said the possibility is increasing that it may happen at the central bank’s next meeting in March. While higher rates can weigh on growth, the confidence pushed U.S. stock indexes to new highs.

Overseas, Britain’s FTSE finished down 0.3% and France’s CAC 40 fell 0.5%. Germany’s DAX slipped 0.3%.

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