MARKET WRAP: Indices & Dollar Moved Higher, Crude Price Surged

 Investors pushed the equity markets higher on the back of a possibility that the US government may not shut after all. Crude prices moved higher on oil production cut hopes 


  • The S&P 500 Index jumped 0.9 percent on the back of the trade hopes as of 15:31 London time.
  • The Nasdaq 100 soared 0.97 percent and the Dow Jones Industrial Average also added to its yearly gains by 0.98 percent.
  • The Stoxx Europe 600 Index moved higher by 0.52 percent.
  • Germany’s DAX Index jumped 1.1 percent.
  • The MSCI Emerging Market Index followed other market and moved up by 0.1 percent.
  • The Dollar spot Index still moving higher, as traders turn towards risk-off assets ahead of the possibility of the US government shutdown. It touched its peak in almost six weeks.
  • The Euro recovered some of its losses and added 0.2 percent to $1.1293.
  • The British pound is still under the selling pressure becuase Theresa May asked for more time from the parliament. The currency dropped by 0.25 percent to $1.2898- the lowest level in three weeks.
  • The Japanese Yen lost more momentum and dropped by 0.3 percent to 110.36 per dollar.
  • The yield on 10-year Treasuries jumped two basis points to 2.66 percent, broke its consecutive days of losses in a week.
  • Germany’s 10-year didn’t move much today and consolidated mostly.
  • Britain’s 10-year yield is highly sensitive to Brexit news and moved up by two basis points to 1.18 percent.
  • West Texas Intermediate crude moved higher on the hopes of oil production cut and jumped up by 2.61 percent to $53.78 a barrel, recovered its losses from yesterday.
  • Gold moved between gains and losses today, investors are not sure about the prospects of any positive outcome from US-China trade deal. At 15:30 London time it was up by 0.3 percent to $1,309 an ounce.