Asia Morning: U.S. Stocks Mixed Again, Dollar Firms Up


On Thursday, U.S. stocks closed mixed again, as investors tried to digest data on rising coronavirus cases and initial jobless claims...

Trading floor 2

On Thursday, U.S. stocks closed mixed again, as investors tried to digest data on rising coronavirus cases and initial jobless claims. The Dow Jones Industrial Average slipped 39 points (-0.2%) to 26080, the S&P 500 added 1 point to 3115, while the Nasdaq 100 climbed 29 points (+0.3%) to 10012 posting a four-session rally.

S&P 500 Index: Daily Chart

Source: GAIN Capital, TradingView

Software & Related Services (+0.98%) and Household & Personal Products (+0.89%) sectors performed the best, while the Real Estate (-1.34%), Consumer Durables & Apparel (-1.1%) and Food & Staples Retailing (-0.43%) sectors lagged behind. closed at a record high of $2,653.98.

On the technical side, about 43.5% (43.9% in the prior session) of stocks in the S&P 500 Index were trading above their 200-day moving average, and 56.3% (71.6% in the prior session) were trading above their 20-day moving average.

U.S. Labor Department reported that Initial Jobless Claims declined to 1.508 million for the week ended June 13 (1.290 million expected), and Continuing Claims dipped to 20.544 million for the week ended June 6 (19.850 million expected). The Conference Board Leading Index rose 2.8% on month in May (+2.4% expected).

European stocks came under pressure, with the Stoxx Europe 600 Index falling 0.7%. Both Germany's DAX and France's CAC were down 0.8%, and the U.K.'s FTSE 100 lost 0.5%.

U.S. government bond prices rebounded further, as the benchmark 10-year Treasury yield slid further to 0.693%.

Spot gold price still lacked upward momentum and eased $4.00 dollar (-0.2%) to $1,721 an ounce.

Oil prices stabilized. U.S. WTI crude oil futures (July) advanced 2.3% to $38.84 a barrel.

On the forex front, the U.S. dollar strengthened against its major peers, with the ICE Dollar Index rising 0.4% to 97.45.

GBP/USD sank 1.1% to 1.2424. The Bank of England kept its benchmark rate unchanged at 0.10%, while increasing asset purchase target to 745 billion pounds from 645 billion pounds, both as expected. BOE said it expects that programme to be completed "around the turn of the year". On the other hand, U.K. retail sales for May will be reported later in the day (-16.4% on month expected).

EUR/USD dropped 0.3% to 1.1208., down for a third straight session.

USD/JPY was little changed at 106.99. This morning, official data showed that Japan's national CPI grew 0.1% on year in May (+0.2% expected).

More from Indices


This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.

GAIN Capital Singapore Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the GAIN Capital group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), GAIN Capital Singapore Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact GAIN Capital Singapore Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.

In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither GAIN Capital Singapore Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.

GAIN Capital Singapore Pte. Ltd. is not under any obligation to update this report.

Trading CFDs and FX on margin carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit for the complete Risk Disclosure Statement.