S&P 500 and NASDAQ on the move

Daily Analysis - 24/04/2019

U.S. Company’s earnings support the S&P 500 and NASDAQ

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On Tuesday NASDAQ and the S&P 500 scored record highs while the stock market supported stronger-than-expected quarterly earnings from many of the biggest publicly exchanged U.S. corporations.

The general index ended at 2,933.68 and that is about 0.8% higher from the last close, at 2,930.74. The NASDAQ closed higher more than 1.0% at 8,120.81. The S&P 500 too finished the trading day just under its daily record of 2,940.90. The Dow Jones Industrial Average earned 145.33 points to finish at 26,656.38 and was more than 1.0% away from its all-time high.

Asian markets fell


Asia stocks cut their earlier profits as they sank today, notwithstanding the NASDAQ and the S&P 500 closing at record-high levels.

The Nikkei 225 in Japan fell more than 0.3% while the Topix index was down 0.7%. The AUD dropped to $0.7034 following the announcement of the inflation figures.

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Aussie fell after soft data releases


On Wednesday the popular Australian dollar fell to a 42-day low while weak internal inflation data strengthened the chances of monetary easing. This happened while the greenback floated near 2017 high versus its rivals after the solid U.S. housing data releases, further lifted the fears towards the U.S economy. The AUD fell about 0.9% at $0.7039.

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Gold down to 120-day low


On Wednesday Gold dropped, and was seen near a 120-day low reached in the previous trading session. That was while stock market surged and supported the greenback following the solid U.S. housing data releases. U.S. gold futures fell about 0.2% at $1,270.69 an ounce.

Spot gold also fell 0.3% at $1,268.83 per ounce having scored its lowest level since the end of 2018 at $1,265.89 in the previous session.

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