Daily Market Review – January 10, 2017

Stocks and Indices

Wall Street was mixed on Monday, with the Nasdaq composite gaining 0.19% to hit a new record high of 5,537. The Dow Jones industrial average dropped 76.42 points, or 0.38%, while the S&P 500 declined 8.08 points, or 0.35%.

Asian markets had a bearish Tuesday, with the Japanese Nikkei 225 down 152.9 points, or 0.79%, and Australia’s ASX 200 down 46.7 points, or 0.8%. In South Korea, the Kospi slumped 3.66 points, or 0.18%, while Hong Kong’s Hang Seng bucked the trend, gaining 0.58% by mid-afternoon. In mainland China, the Shanghai composite slumped 9.34 points, or 0.29%, while the Shenzhen composite slid 4.86 points, or 0.244%.

Commodities

Oil prices gained on Tuesday, following Monday’s sharp drop, as the dollar floundered. Brent crude gained 35 cents, trading at $55.29 by 1055 GMT. U.S. light crude also gained 35 cents, at $52.31.

Currencies

The dollar lost some steam on Tuesday, ahead of Donald Trump’s scheduled news conference. The greenback dropped to ¥115.55 against the yen, compared with with ¥116.09 late Monday. The euro gained ground, changing hands at $1.0608, up from $1.0573 late Monday. The WSJ Dollar index fell 0.24% to 92.41.

Global News

A suspension bridge near the Colombian city of Villavicencio has collapsed, killing at least 11 people. The structure, which was made of rope and boards, gave way as one of the ropes snapped, according to eyewitnesses. The bridge hung 10 meters over a canyon, and was holding almost 30 people at the time of the incident.

*Featured image courtesy of Eduardo Accorinti/Shutterstock.