Fri, 14 May 2021

NEW YORK, New York - U.S. stocks had a volatile day Wednesday. The Dow Jones industrials index hit a new intraday record high of 33,911.25.

"The first quarter is a story very much about great expectations. So far, companies are delivering on aggregate here," Michael Reynolds, investment strategy officer at Glenmede Trust told MarketWatch Wednesday.

The Dow trimmed gains after hitting the intraday high. At the finish, the benchmark index was ahead 53.62 points or 0.16 percent at 33,730.81.

The Standard and Poor's 500 slipped 16.93 points or 0.41 percent to 4,124.66.

The Nasdaq Composite shed 138.26 points or 0.99 percent to 13,857.84.

Foreign exchange markets were busy, with the U.S. dollar losing more ground, particularly against the commodity currencies.

The euro remained well bid Thursday at 1.1973 around the New York close. The British pound was strong at 1.3780. The Japanese yen was steady at 108.95, after piercing through the 109.00 level in Asian trading. The Swiss franc eased to 0.9229.

The Canadian dollar advanced to 1.2523, but the big gainers were the Australian and New Zealand dollars which zoomed up to 0.7725 and 0.7140 respectively.

On overseas markets, the German Dax lost 0.17 percent. The Paris-based CAC 40 added 0.40 percent. In London, the FTSE 100 gained 0.71 percent.

On Asian markets, in Tokyo, the Nikkei 225 dropped 130.561 points or 0.44 percent to 29,620.99.

The Australian All Ordinaries rose 52.10 points or 0.72 percent to 7,283.10.

The Hang Seng in Hong Kong was the best performer, jumping 403.58 points or 1.42 percent to 28,900.83.

China's Shanghai Composite advanced 20.25 points or 0.60 percent to 3,416.72.

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