Sun, 24 Jan 2021

U.S. equities and foreign exchange markets close mixed

Lola Evans
14 Jan 2021, 07:12 GMT+10

NEW YORK, New York - U.S. stocks had a mixed day Wednesday as data showed a slight uptick in inflation through an increase in the CPI, offset by a slimming of interest rate yields which saw a rise in bond pond prices.

"The market is starting to price in that there are some risks ... valuation is pretty extreme, optimism is way too high, we've got a disappointing rollout of further vaccine," David Spika, president of GuideStone Capital Management in Dallas, Texas told Reuters Thomson Wednesday.

"The expectation is that we'll have a significant increase in earnings and economic growth in 2021, but both are really dependent on the vaccine," Spika added.

Technology stocks did best with the Nasdaq Composite rising 56.52 points or 0.43 percent to 13,128.95.

The Standard and Poor's 500 gained 8.65 points or 0.23 percent to 3,809.84.

The Dow Jones fell 8.22 points or 0.03 percent to 31,060.47.

On foreign exchange markets, the U.S. dollar was mixed Wednesday. It rose against the euro to 1.2155 by the New York close. The British pound eased to 0.13 percent. The Japanese yen was a fraction weaker at 103.89. The Swiss franc was little changed at 0.8877.

The Canadian dollar was stronger at 1.2698.nThe Australian dollar was a tad higher at 0.7737. The New Zealand dollar was sharply higher at 0.7178.

Overseas, the DTSE 100 in London fell 0.13 percent. The German Dax finishing higher, adding 0.11 percent. The Paris-based CAC 40 climbed 0.21 percent

On Asian markets, the Australian All Ords advanced 14.80 points or 0.21 percent to 6,953.90.

In Japan, the Nikkei 225 jumped 292.25 points or 1.04 percent to 28,456.59.

In Hong Kong, the Hang Seng shed 41.15 points or 0.15 percent to 28,255.60.

China's Shanghai Composite fell 9.69 points or 0.27 percent to 3,598.65.

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