Global Financial Market Overview

Dow climbed on Wednesday, August 29, 2018 while a rally in tech stocks led the Nasdaq Composite and S&P 500 to record highs, with Amazon, Alphabet and Apple leading the gains. Investor sentiment was also boosted by the resumption of U.S.-Canada trade talks that could possible be held on Friday, August 31, 2018.

Dow Jones Industrial Average closed at 26,124.57, rose 60.55 (+0.23%)

S&P Index closed at 2,914.04, rose 16.52 (+0.57%)

Nasdaq Composite closed at 8,109.69, jumped 79.65 (+0.99%)

 

European stocks finished Wednesday slightly higher, as investors continued to monitor corporate earnings and global trade developments, especially the U.S. – Canada talk on this Friday.

Stoxx Europe 600 closed at 386.58 increased 0.3%

Germany’s DAX Performance Index closed at 12,561.68, rose 34.26 (+0.27%)

France’s CAC 40 Index closed at 5,501.33, rose 16.34 (+0.30%)

London’s FTSE 100 closed at 7,563.21, decreased 54.01 (-0.71%)

 

Asia markets were mixed after the Nasdaq and S&P 500 hit another record high on Wall Street, while investors were anxious about Canada’s acquiescence and eyeing a deadline for the next of China-U.S. tariffs next week.

Hong Kong’s Hang Seng index rose 64.82, or 0.23%, to close at 28,416.44

The Shanghai composite fell 8.69 or 0.31%, to close at 2,769.30

Shenzhen composite also fell by 0.56% to close at 1,489.29

Australia’s ASX 200 was up by 0.75%, or 47.50, to close at 6,352.20

Japan’s Nikkei 225 was up by 0.15%, or 34.75, to close at 22,848.22

South Korea’s Kospi rose 0.26%, or 5.90, to close at 2,309.03

Singapore stocks ended 0.1% lower with the Straits Times Index retreating 3.63 to 3,243.92

 

New York Gold Future was negative after the U.S. second quarter GDP has been announced as strong, caused investors to selloff.

COMEX decreased 2.90 USD or 0.24% for December delivery to close at 1,211.50 USD/ounce

Platinum for October rose 1.30 USD or 0.16% to close at 796.60 USD/ounce

Palladium for December rose 18.90 USD or 2% to close at 954.30 USD/ounce

 

WTI Oil Crude rose more than 1 percent on Wednesday, supported by a drawdown in U.S. crude and gasoline stockpiles and on news of falling Iranian crude shipments as U.S. sanctions deter buyers.

West Texas Intermediate (WTI) crude for October delivery increased by 98 cent or 1.4% to close at 69.51 USD/bbl

Brent crude for October delivery increased 1.19 USD or 1.6% to close at 77.14 USD/bbl

 

United States Dollars rose on Wednesday as relief about a U.S.-Mexico trade deal gave way to concern among investors that the conflict over trade between the U.S. and China was not about to end soon.

USD strengthened against JPY at 111.69 JPY to trade from 111.21 JPY, but weakened against Swiss Franc at 0.9713 SFR from 0.9766 SFR.

Euro strengthened to trade at 1.1698 USD from 1.1696 USD.

Pound strengthened to trade at 1.3020 USD from 1.2867 USD, while AUD weakened to close at 0.7299 USD from 0.7335 USD.