Thu, 18 Jul 2019

Little movement on Wall St as political intrigue subsides

By Jay Jackson, The Tokyo News
26 Mar 2019, 07:26 GMT+10

NEW YORK, New York - Wall Street settled down on Monday as political stability returned to the capital, with the overhanging Mueller report having been delivered, defusing the  tensions of recent months.

With President Trump off the hook, a lot of the political intrigue that had built up has now evaporated.

U.S. stocks were liitle changed Monday with only minor moves in the major indices. The U.S. dollar too was largely unchanged, just giving up a few basis points here and there.

At the close of trading Monday, the Dow Jones industrials were ahead 14.51 points or 0.06% at 25,516.83.

The Standard and Poor's 500 fell 2.35 points or 0.08% to 2,798.36.

The Nasdaq Composite lost 5.13 points or 0.07% at 7,637.54.

The euro cruised a touch higher in U.S. trading on Monday. Around the New York close it was fetching 1.1311.

The British pound gained a few points to 1.3193. The Japanese yen eased a touch to 109.96.

The Swiss franc was little changed at 0.9923.

The Canadian dollar inched up to 1.3401.

The Australian dollar firmed a little to 0.7112.

The New Zealand dollar added some points to finish in New York around 0.6908.

In overseas markets, the FTSE 100 in London lost 0.42%. The German Dax shed 0.15%, and the Paris-based CAC 40 lost 0.18%.

The real panickers were investors and traders in Asia, where selling dominated trading throughout the day.

Japan's Nikkei 225 led the way with a massive 650.23 points or 3.01% loss. The key index closed Monday at 20,977.11.

The Australian All Ords dived 72.20 points or 1.15% to 6,208.70.

In Hong Kong, the Hang Seng finished down 590.09 points or 2.03% at 28,523.35.

The Shanghai Composite, was trading 61.12 points or 1.97% lower at the finish, at 3,043.30.

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