Mon, 26 Jul 2021

U.S. stock markets add to recent gains, dollar dips

Lola Evans
23 Jun 2021, 06:12 GMT+10

NEW YORK, New York - U.S. stocks continued their recovery which began on Monday.

Tuesday saw the major indices all make gains. The Dow Jones industrials, after being much higher earlier, garnered 68.61 points or 0.20 percent to close at 33,945.58.

The Nasdaq Composite rallied 111.79 points or 0.79 percent to 14,253.27.

The Standard and Poor's 500 advanced 21.65 points or 0.51 percent to 4,246.44.

On foreign exchange markets, the U.S. dollar dipped against a broad range of currencies. The main exception was the Japanese yen which fell to 110.63.

The euro firmed to 1.1944. The British pound was stronger at 110.63. The Swiss franc rose marginally to 0.9180.

The Canadian dollar rose to 1.2308. The Australian dollar strengthened to 0.7557. The New Zealand dollar jumped to 0.7028,

Overseas, in London, the FTSE 100 gained 0.39 percent. The German Dax added 0.21 percent. The Paris-based CAC 40 climbed 0.14 percent.

On Asian markets, stocks in Japan did an almost complete about-face on Tuesday with the Nikkei 225 soaring 873.20 points or 3.12 percent to 28,884.13.

The irony is that the 873 points represented almost 92 percent of the losses that occurred on the same index the day prior.

In Australia, the All Ordinaries regained 107.50 points or 1.44 percent, with the key index closing Tuesday at 7,592.74.

China's Shanghai Composite again ignored the volatility, rising just 28.23 points or 0.80 percent to 3,551.41. The Chinese index finished flat on Monday.

In Hong Kong, the Hang Seng, going against the trend, gave up 179.24 points or 0.63 percent to 38,309.76.

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