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Stocks Gain on Growth Outlook; Dollar Extends Run: Markets Wrap

Stocks Gain on Growth Outlook; Dollar Extends Run: Markets Wrap

31.08.2017 / 17:52

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U.S. stocks rose with the dollar after data underscored the resilience of the American and Chinese economies.

The S&P 500 Index pared a monthly loss with its fifth straight gain and the dollar continued its ascent from the lowest level in two years.

The euro slipped after a report that some central Bank officials are worried about the currency’s strength. Gasoline climbed for an eighth day as Harvey continued to pound the energy-rich Gulf of Mexico coast.

U.S. second-quarter growth reached the fastest pace in two years .

President Donald Trump signaled he’s running out of patience with Kim Jong Un’s regime after the latest provocation in which Pyongyang sent a missile over Japan earlier this week. Trump dismissed the idea of negotiating.

And here are the main moves in markets:

Stocks

The S&P 500 added 0.4 percent at 10:03 a.m. in New York. The index is down 0.2 percent in August.

The Dow Jones Industrial Average rose 0.3 percent, headed for a fifth straight monthly advance.

The Stoxx Europe 600 Index advanced 0.8 percent as of 8:33 a.m. in New York, the biggest gain in a week.

The U.K.’s FTSE 100 Index advanced 0.7 percent.

Germany’s DAX Index advanced 0.6 percent, the most in a week.

Currencies

The Bloomberg Dollar Spot Index gained 0.1 percent.

The euro declined 0.3 percent to $1.1848.

The British pound declined 0.5 percent to $1.2865, the biggest drop in a week.

The Japanese yen fell 0.3 percent to 110.54 per dollar

Commodities

Gold declined 0.2 percent to $1,306.57 an ounce.

West Texas Intermediate crude gained 0.5 percent to $46.21 a barrel.

Copper advanced 0.8 percent to $3.11

Source: Bloomberg Pro Terminal

Junior Trader Stefan Panteleev

Varchev Traders

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Stocks Gain on Growth Outlook; Dollar Extends Run: Markets Wrap

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