Market Headlines 3/10/2017

Posted 03 Oct 2017 by Alan McCarthy


  • US equities maintained their strong recent run. The S&P 500 gained 0.4%, settling at another fresh record high. The dollar also extended its recent bout of strength against the euro as the common currency traded lower following the Spanish vote in Catalonia.
  • Positive US economic data further boosted the dollar as the Purchasing Managers Index (PMI), a widely watched measure of manufacturing activity, rose to a 13-year high, easily outstripping expectations.



  • European equities also traded higher yesterday, with the Euro Stoxx 50 index gaining 0.2%.
  • Spanish stocks, however, underperformed their European peers, closing 1.2% weaker following the independence vote in Catalonia over the weekend.
  • Energy stocks also underperformed on both sides of the Atlantic as oil prices continued to retreat. Brent crude settled 2.5% lower.



  • Japanese stocks closed at their highest levels since August 2015, gaining 1% overnight. Strength was broad-based across sectors with Real Estate and Utility companies contributing the most gains.


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