US Dollar Hits New Higher While Asia And Europe Markets Slide, Oil Drops On China Demand Fears - Global Markets Today While US Slept

On Thursday, December 19, U.S. markets closed mixed after initial gains faded. Stocks mainly remained flat as the Fed forecasted fewer 2025 rate cuts and higher inflation. Jobless claims fell, and Q3 GDP was revised to 3.1%, supporting the Fed’s view. The Dow ended its 10-session losing streak.

The U.S. economy grew 3.1% in Q3, revised from 2.8% while existing home sales rose 4.8% in November to 4.15 million. Initial jobless claims fell by 22,000 to 220,000 in early December, below estimates of 230,000.

Most S&P 500 sectors ended lower, led by losses in materials, real estate, and energy. In contrast, utilities and financials outperformed, closing the session higher.

The Dow Jones Industrial Average was up 0.04% and closed at 42,342.24, the S&P 500 closed lower by 0.09% at 5,867.08, and the Nasdaq Composite slipped 0.10% to finish at 19,372.77.

Asia Markets Today

• On Friday, Japan’s Nikkei 225 declined 0.22% and ended the session at 38,723.50, led by losses in the Communication, Steel, and Transportation Equipment sectors shares.
• Australia’s S&P/ASX 200 fell 1.24% and ended the day at 8,067.00, led by losses in the Consumer Discretionary, Financials and Gold sectors.
• India’s Nifty 50 slid 1.35% to 23,627.45, and the Nifty 500 was down 1.82%, closing at 22,337.55. Losses in the Real Estate, Power, and Capital Goods sectors led to the declines.
• China’s Shanghai Composite fell 0.06% to close at 3,368.07, and the Shenzhen CSI 300 declined 0.45%, finishing the day at 3,927.74.
• Hong Kong’s Hang Seng was down 0.16% and closed the session at 19,720.70.

Eurozone at 05:30 AM ET

• The European STOXX 50 index was down 1.35%.
• Germany’s DAX slid 1.42%.
• France’s CAC fell 1.30%.
• U.K.’s FTSE 100 index traded lower by 1.09%.
• European shares headed for their worst week in three months as Trump’s tariff threats on the EU rattled investors already concerned about U.S. rates. The STOXX 600 fell 1.1%, with major indices and sectors declining sharply, including banks and miners.

Commodities at 05:30 AM ET

• Crude Oil WTI was trading lower by 2.69% at $68.67/bbl, and Brent was down 0.99% at $72.16/bbl.
• Oil prices declined this week due to concerns about slowing demand growth in the coming years, particularly from China. The market was further pressured by a stronger dollar and ongoing revisions to demand forecasts by OPEC and its allies.
• Natural Gas rose 1.95% to $3.654.
• Gold was trading higher by 0.49% at $2,620.71, Silver was down 0.44% to $29.277 and rose 0.02% to $4.0780.

U.S. Futures at 05:30 AM ET

Dow futures were down 0.58%, S&P 500 futures fell 0.82% and Nasdaq 100 futures declined 1.18%.

Forex at 05:30 AM ET

• The U.S. dollar index was down 0.24% to 108.15, the USD/JPY fell 0.44% to 156.73, and the USD/AUD rose 0.12% to 1.6050.
• The dollar neared a two-year high, set for its third weekly gain amid expectations of prolonged high U.S. rates. Global currencies weakened, with the yen and euro under pressure.

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