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US Stocks Mixed on Telcom Losses Lower Market
U.S. stocks were mixed after the close on Friday, as gains in Basic Materials, Healthcare and Technology were offset by losses in Telecoms, Financials and Utilities . The Dow fell by 0.06%, the S&P 500 rose by 0.01%, and the NASDAQ lost 0.25% from its value. Coca Cola shares rose, closing at $43.96.
The U.S. dollar rose to an eight-week high against a basket of currencies amid a slump in both the yen and Aussie dollar, and a rise in 10-year U.S. Treasury bills also lifted sentiment. Today, CB Consumer Confidence is expected at 126.0 vs. 127.7 previously.
Gold rose, closing at $1,327. Crude oil prices settled higher on Monday as investors weighed bearish comments from Iran about an extension to the OPEC output-cut agreement.
The euro traded lower against the dollar. On the 4-hour chart, the EUR/USD is trading below the resistance line at 1.2415. Holding these conditions, we might see a fall towards 1.2000, while breaking above the line may lead to a rise towards 1.2500. Today, the German IFO Business Climate is expected at 102.7 vs. 103.2 previously.
The Pound traded lower against the dollar. On the 4-hour chart, the GBP/USD is trading close to the lower band of the Bollinger Bands indicator with the RSI below 50. Maintaining these conditions, we might see a fall towards 1.3800, while breaking above the upper band may lead to a rise towards 1.4500. Today, the Public Sector Net Borrowing is expected at 1.1B vs-0.3B previously.
