CURRENCY MARKET WRAP
As of Tue Nov 12th, Singapore Time zone UTC+8
U.S. Dollar Index, -0.14%, 98.21
USDJPY, -0.15%, $109.04
EURUSD, +0.11%, $1.1034
GBPUSD, +0.47%, $1.2854
USDCAD, +0.05%, $1.3233
AUDUSD, -0.13%, $0.6848
NZDUSD, +0.51%, $0.6363
U.S. Treasury market and banks were closed for Veterans Day and investors did not receive any economic data. The U.S. Dollar Index declined 0.14% to 98.21. WTI crude declined 0.6% to $56.88/bbl.
In UK, Britain’s economy has grown at the slowest annual rate in almost a decade, according to official figures. Year-on-year growth in the three months to end-September slowed to 1% from 1.3% in the second quarter, the Office for National Statistics said. While the economy dodged outright recession, the rebound in quarterly growth was smaller than expected. UK Prelim GDP q/q expanded by 0.3% in the third quarter, it was not as fast as the 0.4% forecast by economists.
STOCK MARKET WRAP
S&P500, -0.20%, 3,087.01
Nasdaq, -0.13%, 8,464.28
Nikkei Futures, -0.45%, 23,327.5
S&P 500 declined just 0.2% on Monday, while the Dow Jones Industrial Average (+0.04%) eked out a record close amid strength in Boeing (BA 366.96, +15.96, +4.6%) and Walgreens Boots Alliance (WBA 62.25, +3.01, +5.1%). The Nasdaq Composite lost 0.13%, and the Russell 2000 lost 0.3%.
Boeing said it expects 737 MAX deliveries to resume in December and commercial service to resume in January. Walgreens received a leveraged buyout offer from KKR & Co. (KKR 29.26, +0.11, +0.4%), according to Bloomberg.
The nice gain in Boeing was an influential driver not only in the Dow but also the S&P 500 industrials sector (+0.1%), which joined the real estate (+0.2%) and information technology (+0.1%) sectors in positive territory. The tech sector overcame a negative start, predominately due to Apple (AAPL 262.20, +2.06, +0.8%) extending its record run on no specific catalyst.
Separately, T-Mobile US (TMUS 79.62, -1.32, -1.6%) was a notable laggard after The Wall Street Journal reported that its CEO John Legere is in talks to become the next CEO of WeWork. Qualcomm (QCOM 91.84, -2.19, -2.3%) underperformed after the stock was downgraded to Equal-Weight from Overweight at Morgan Stanley.