Wed, 17 Jul 2019

Solid demand for U.S. stocks, dollar

Lola Evans
17 May 2019, 06:42 GMT+10

NEW YORK, New York - Wall Street marched higher for the third day in a row on Thursday as upbeat earnings and optimism about the economy took precedence over stalled trade talks.

The U.S. dollar meantime soared, pushing the euro, British pound and Australian dollar below crucial technical levels.

The Dow Jones Industrial Average was ahead 214.72 points or 0.84% at 25,862.74 at the close on Thursday.

The Standard and Poor's 500 advanced 25.37 points or 0.89% to 2,876.33.

The Nasdaq Composite climbed 75.90 points or 0.97% to 7,898.05.

The euro tumbled meantime to 1.1177 late in New York trading on Thursday. The British pound plummeted to 1.2794. The Japanese yen fell to 109.83, while the Swiss franc slipped to 1.0100.

The Canadian dollar inched down to 1.3463.

The Australian dollar, on the eve of the Federal election on Saturday, spiralled down to 0.6891. The New Zealand dollar was also weaker at 0.6535.

In overseas markets, the FTSE 100 in London closed 0.78% higher on Thursday.

The German Dax rose by 1.74%.

In Paris, the CAC 40 advanced 1.37%.

In Asian markets, Japan's NIkkei 225 fell 125.58 points or 0.59% to 21,062.98 Thursday.

In China, the Shanghai Composite gained 17.03 points or 0.58% to 2,955.71.

The Australian All Ords index climbed 46.60 points or 0.73% to 6,417.50.

Hong Kong stocks were ahead 6.36 points or 0.02% at the close, the last quote being 28,275.07.

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