Wed, 08 Apr 2020

U.S. stocks directionless, dollar mostly higher

Lola Evans
24 Jan 2020, 07:57 GMT+10

NEW YORK, New York - U.S. stocks were mixed on Thursday with the Nasdaq and Standard and Poor's 500 making modest gains, while the Dow Jones slipped 26 points.

Concern simmers over the coronavirus outbreak with the global death toll rising to eighteen.

Importantly though, the World Health Organization (WHO) indicated it was "a bit too early" to declare a global health emergency.

"The virus is, if not a diversion, it's something the traders are going to capitalize on," Chuck Carlson, CEO at Horizon Investment Services in Hammond, Indiana told the Reuters Thomson news agency. "It matters, but it matters to a subset of the market, not with investors who are looking past the next 24 hours."

At the close of trading Thursday, the Dow Jones Industrial Average was down 26.18 points, or 0.09%, to 29,160.09.

The Standard and Poor's 500 added 3.79 points, or 0.11%, to 3,325.54.

The Nasdaq Composite rose 18.71 points, or 0.2%, to 9,402.48.

The U.S. dollar was mixed. The euro fell sharply to 1.1057 after the European Central Bank said irt was reviewing inflation policy.

The British pound slipped to 1.3125.

The Japanese yen rose slightly to 100.47. The Swiss franc eased to 0.9692.

The Canadian doll rose slightly to 1.3129. The Australian dollar was a tad weaker at 0.6845. The New Zealand was a few basis points higher at 0.6604.

Overseas, the German Dax declined 0.94%. The Paris-based CAC 40 sropped 0.65%, while in London, the FTSE 100 was off 0.85%.

On Asian markets, the Chinese-based Shanghai Composite index was down 44.57 points or 1.46% at 3,016.18.

In Hong Kong, the Hang Seng index shed 478.34 points or 1.69% to 27,862.70.

The Australian All Ordinaries gave up 64.00 points or 0.88% to 7,185.00.

In Japan, the Nikkei 225 dropped 209.96 points or 0.87% to 23,826.39.

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