The US open did little to disrupt trading on Thursday, the Dow Jones easing itself back in after Wednesday’s 4th July celebrations.
Rising around 50 points after the bell, the Dow couldn’t quite reach the 24300 levels suggested by its futures earlier in the day. The index seemingly wasn’t too interested in June’s services PMIs – the Markit reading slipped to 56.5 as expected, with the ISM figure hit a 3 month peak of 59.1 – nor did it pay much attention to a disappointing ADP non-farm number.
The dollar, meanwhile, was pretty mixed, nudging 0.1% higher against the pound and the yen, but slipping 0.3% against the euro. There might be a bit more movement following tonight’s FOMC meeting minutes, a release that could make for an interesting non-farm Friday dependant on whether or not Jerome Powell and co. suggest a hawkish future.
Though the day’s Eurozone gains couldn’t quite maintain the pace set earlier in the session, the DAX and CAC still found themselves around 0.8% higher apiece thanks to signs of trade war-cooling between the US and EU. As for the FTSE, it began to slip as the day went on, its growth reduced to just 25 points, with that shrinkage taking the UK index back under 7600.
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