On Thursday, Oct. 17, U.S. markets closed mixed, with the Dow reaching a record high, fueled by strong retail sales and Taiwan Semiconductor’s TSM upbeat earnings forecast, which lifted chip stocks. Meanwhile, the S&P 500 and Nasdaq were nearly flat. Gold surged to a record high amid U.S. election uncertainties, while robust economic data sustained market optimism despite mixed quarterly earnings.
Related: Stock Of The Day: Taiwan Semiconductor Breaks Out As Buyers Push Prices Higher
According to economic data, U.S. initial jobless claims fell by 19,000 for the week ending Oct. 12. Retail sales rose by 0.4% in September, surpassing market estimates, while the Philadelphia Fed Manufacturing Index increased to 10.3 in October, exceeding expectations.
Most S&P 500 sectors declined, with utilities, real estate, and communication services leading the losses. However, energy and information technology stocks outperformed, closing the session higher.
The Dow Jones Industrial Average gained 0.37% and closed at 43,239.05. The S&P 500 ended the day lower by 0.02% at 5,841.47, while the Nasdaq Composite rose 0.04%, finishing the session at 18,373.61.
Asia Markets Today
On Friday, Japan’s Nikkei 225 closed higher by 0.11% at 38,987.50, led by gains in the Power, Banking and Rubber sectors.
Australia’s S&P/ASX 200 declined 0.87% and ended the day at 8,283.20, led by losses in the Utilities, A-REITs and Consumer Discretionary sectors.
India’s Nifty 50 traded higher by 0.38% at 24,845.75 and Nifty 500 was up 0.24% at 23,430.35.
China’s Shanghai Composite rose 2.91% to close at 3,261.56, while the Shenzhen CSI 300 gained 3.62%, finishing the day at 3,925.23.
Hong Kong’s Hang Seng gained 3.61% and closed the session at 20,804.11.
Chinese shares rose as Q3 GDP growth met expectations, with the economy expanding 4.6% year-on-year, slightly below Beijing’s 5% annual target and down from the previous quarter. Industrial production and retail sales exceeded forecasts in September, and unemployment dropped to 5.1%.
Eurozone at 06.00 AM ET
The European STOXX 50 index was up 0.63%.
Germany’s DAX gained 0.15%.
France’s CAC rose 0.58%.
U.K.’s FTSE 100 traded lower by 0.28%.
Commodities at 06.00 AM ET
Crude Oil WTI was trading lower by 0.41% at $70.38/bbl, and Brent was down 0.43% at $74.12/bbl.
Oil futures steadied after U.S. crude and fuel inventories fell, and China announced more fiscal stimulus. Despite a slight rise in Brent and WTI prices, both are set for their largest weekly drop since early September, with ongoing concerns about global demand.
Natural Gas was up 0.09% at $2.349.
Gold was trading higher by 0.74% at $2,727.45, Silver rose 1.64% to $32.295, and Copper gained 1.03% to $4.3700.
Gold reached a new all-time high, surpassing $2,700 for the first time, as investors sought safe-haven assets amid ongoing geopolitical tensions in the Middle East and uncertainty surrounding the upcoming U.S. presidential election.
U.S. Futures at 06.00 AM ET
Dow futures were up 0.03%, S&P 500 futures gained 0.13%, and Nasdaq 100 Futures rose 0.29%.
Forex at 06.00 AM ET
The U.S. dollar index slid 0.16% to 103.66, the USD/JPY was down 0.21% to 149.88, and the USD/AUD fell 0.19% to 1.4903.
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