Powell pushed the dollar up

The US dollar rose after Jerome Powell's rather harsh statements during a meeting of the US Federal Reserve's Open Market Operations Committee on Wednesday, which cannot be said about the stock market, whose indicators have noticeably declined.

So, the American regulator, as expected by analysts, left the interest rate in the country unchanged. The first and, perhaps, the main thesis of the meeting sounds like this: the right time to raise interest rates is about to come. The completion of the asset purchase program will take place a couple of weeks earlier than expected, namely in early March. The reduction of the balance sheet will occur from the beginning of the rate hike cycle. The situation in the economy and labor market of the United States is already noticeably better. The unemployment rate has finally significantly decreased, so there is no point in delaying the tightening of the PEPP.

It is worth noting that Powell, in an uncharacteristic manner, spoke rather harshly about the economy during the meeting, and did not calm the already noticeably fallen market. He finally admitted that inflation in the US is too high and its growth can no longer be called a temporary phenomenon. Powell stressed that the US economy no longer needs such large support from the Federal Reserve.

Bank of Singapore strategist Moh Siong Sim said that the market expects rates to rise at least four times this year, that is, one increase per quarter. At the same time, J. Powell noted in his speech that he does not exclude more than four stages.

After the meeting of the American regulator and the subsequent press conference, Powell's dollar exchange rate fluctuated for a while, but eventually returned to the levels that preceded the announcement of the results. On Thursday, greenback quotes are trading at the highest level in many weeks. The dollar index against a basket of six major currencies by the time of preparation of the material increased by 0.92% to 96.81.

Paired with the single European currency, the dollar rose to a two-month high of 1.1195. Against the Japanese yen, it was able to maintain growth at the level of 114.81. Paired with the kiwi, the dollar rose to its highest level in more than a year, and against the Australian dollar rose to a seven-week peak.

The pound sterling fell against the dollar by 0.29%. At the time of preparation of the material, it is trading at $ 1.3422, while being in a delicate balance. The movement of the pound is limited by the situation with British Prime Minister Boris Johnson, who is under pressure because he attended parties during the general quarantine in the country. Traders' close attention is also focused on the meeting of the Bank of England, which will be held next week.

Speech by Powell had a strong impact on risky assets. So, Thursday morning was marked by the fact that in Asia, the leading indexes are falling within 3.1%, futures for the main American indexes fell by more than 1%.

The Fed's harsh rhetoric on Wednesday also had an impact on US stock indices, which fell sharply last night. On Thursday morning, futures on them lost more than 1%.

Trading plan for starters of EUR/USD and GBP/USD on February 1, 2022

February 1 economic calendar:

Europe will release its labor market data today, where the unemployment rate may decline from 7.2% to 7.1%. This is a positive factor that can support the euro locally.

The final data on business activity in the manufacturing sector in Europe, the UK, and the US for January is unlikely to put pressure on the market.

JOLTS data on open vacancies in the US will be published during the American trading session. The total number of which may rise from 10,562 thousand to 11,075 thousand. If the data is confirmed, the US dollar may receive support.

Time targeting

The index of business activity in the European manufacturing sector - 9:00 Universal time

The index of business activity in the UK manufacturing sector - 9:30 Universal time

EU unemployment rate - 10:00 Universal time

The index of business activity in the US manufacturing sector - 14:45 Universal time

The number of open vacancies in the US labor market (JOLTS) - 15:00 Universal time

Trading plan for EUR/USD on Feb 1:

According to the correction structure, the price movement is still relevant in the market, but its scale indicates the possibility of early completion. So while working on the euro's growth, it is worth preparing to reduce the volume of long positions, which will lead to the resumption of the downward trend. The area of 1.1270/1.1300 is considered as a variable resistance level.analytics61f8de57430a4.jpg

Trading plan for GBP/USD on Feb 1:

The pullback stage is still relevant in the market. As a result, traders do not rule out the pound's slight strengthening towards 1.3500. At this moment, a gradual reduction in the volume of long positions is possible, which will eventually lead to the end of the pullback stage and the continuation of the downward cycle.

Trading plan for starters of EUR/USD and GBP/USD on February 3, 2022

February 3 economic calendar:

Today is the busiest day of the week, as two meetings of the Central Banks are expected at once.

The Bank of England intends to accelerate the pace of tightening monetary policy by raising the refinancing rate from 0.25% to 0.50%. This step will definitely affect the exchange rate of the British currency in terms of its further strengthening. It is worth considering that the pound has already grown by 200 points, after the news appeared on January 28 that the regulator intends to raise the rate once again. Thus, there is an assumption that the market has already considered the decision of the Bank of England in the quotation.

Following the meeting, the European Central Bank (ECB) is highly likely to leave everything as it is. Therefore, market participants will pay attention to subsequent comments, where we expect to hear specifics from the regulator in terms of further actions. In simple words, the ECB intends to adhere to an ultra-soft approach or follow the path of its colleagues and start tightening monetary policy. The first option of development will lead to a weakening of the euro, but the announcement of an early tightening of monetary policy will provide an opportunity to strengthen the euro noticeably.

Time targeting

Bank of England results - 12:00 Universal time

ECB results - 12:45 Universal time

ECB press conference - 13:30 Universal time

Trading plan for EUR/USD on Feb 3:

In this situation, traders are considering a temporary price fluctuation within the resistance area of 1.1270/1.1320, but everything can change if new speculative surges amid informational noise.

Trading recommendations remain the same, where acceleration is considered after the breakdown of one of the control values.

The signal for the prolongation of the upward cycle will be received if the price holds above the level of 1.1330 in an H4 period.

The signal about the end of the correction will be considered by traders if the price holds below the level of 1.1260 in an H4 period.

Trading plan for GBP/USD on Feb 3:

In this case, there is overheating of long positions, where the level of 1.3600 can act as resistance. This will lead to a gradual recovery of downward interest. It is worth considering that traders might ignore the overbought status due to upcoming events. In this case, holding the price above the level of 1.3600 will lead to a subsequent growth.

European stock markets closed lower on Friday

The ECB did not change the main parameters of monetary policy. The regulator left the base interest rate on loans at zero, the rate on deposits - at minus 0.5%. The rate on margin loans was kept at 0.25%.

Meanwhile, in a post-meeting press conference, ECB President Christine Lagarde warned that consumer price growth, which reached historic highs in January and December, could remain elevated for a longer period than previously expected. At the same time, she expressed the hope that inflation will begin to gradually slow down during 2022.

When asked if Lagarde was ready to repeat what she said two months ago about the low probability of a rate hike in 2022, the head of the ECB replied that she does not make promises without certain conditions, and that much will depend on the March revision of the central bank's macroeconomic forecasts.

In turn, the Bank of England raised its key rate for the second time in a row, from 0.25% to 0.5%, against the backdrop of record inflation in the UK in 30 years.

The volume of orders of industrial enterprises in Germany in December increased by 2.8% compared to the previous month, the country's Ministry of Economics reported. Analysts on average had expected a rise of 0.5%.

Retail sales in the euro area in December 2021 decreased by 3% compared to the previous month, data from the European Union Statistical Office (Eurostat) showed. Analysts polled by Bloomberg had expected a decline of 0.9% on average. In annual terms, retail sales increased by 2% instead of the expected growth of 5%.

Retail sales fell the most in Ireland (-3.2%), Spain and Finland (-3%). The most significant growth in retail sales was recorded in Slovenia (+44.1%), Lithuania (+16.2%) and Estonia (+12.6%).

Traders continue to follow the reporting season and analyze the results of European and American companies.

The composite index of the largest enterprises in the Stoxx Europe 600 region by the close of trading fell by 1.38% and amounted to 462.15 points. At the end of the week, the indicator lost 0.73%.

The British FTSE 100 fell on Friday by 0.17%, the French CAC 40 index - by 0.77%, the German DAX - by 1.75%. The Spanish IBEX 35 and the Italian FTSE MIB lost 1.15% and 1.79% respectively.

The French pharmaceutical company Sanofi SA increased its net profit in the fourth quarter of 2021, but the rise in revenue was worse than market forecasts. The company's shares fell 1.1%.

Italian bank Intesa Sanpaolo SpA turned profitable in the fourth quarter of 2021 and plans to return €22 billion to shareholders by 2025 as part of a new business plan. Bank papers, meanwhile, fell 2.2%.

Enel SpA shares lost 2.1%. The Italian energy company boosted revenue in 2021 on the back of better business segment performance, but profit growth slowed.

Capitalization of the Swedish biopharmaceutical AddLife AB collapsed by 26.3%. The company said its CEO Christina Wilgard plans to retire this year.

The value of Swedish door lock maker Assa Abloy AB jumped 7% after the release of the report. The company posted a net profit of SEK 3.04 billion ($334.2 million) in the fourth quarter, which was higher than the market forecast. Assa Abloy also increased its dividend.

Shares in British tech Oxford Nanopore Technologies PLC rose 1% after analysts at Berenberg released a positive report on the company's outlook following the Festival of Genomics 2022 event.

European stock market up on strong earnings

Strong quarterly reports on corporate earnings of European companies supported the stock market on Wednesday, but concerns about the aggressive steps of major central banks are limiting growth. Thus, the pan-European STOXX 600 index rose by 1.0%. The UK FTSE 100 advanced by 0.45% to 7,600.4, the French CAC 40 was up by 1.06% to 7,103.08, and the German DAX rose by 0.88% to 15,376.34.

Investors expect the European companies to show strong financial performance. This week, such companies as Metro AG, Societe Generale, and Total Energies will issue their corporate reports.

Shares of some European companies have already posted gains. For example, the securities of the French asset manager Amundi added 2.5%. This rise was facilitated by reports about a significant increase in the company's quarterly profits.

Equinor, the largest oil company in Northern Europe, published strong results for the previous year. Its shares were up by 3.7%.

Shares of Danish jewellery maker Pandora also rose by 5.1% today. The expected growth of sales in 2022 was certainly a driving factor. In addition, Pandora's results came in line with the preliminary forecast released in January.

Shares of the Dutch payment system Adyen were the top gainers in Europe: their price surged unexpectedly by as much as 11.0%.

The worst performers of the day were the stocks of the Swedish online casino developer Evolution Gaming, which lost 6.8%, and the shares of the Norwegian financial corporation Storebrand, which fell by 5.8%. Shares of the Dutch insurance company Aegon NV also slipped into negative territory with a drop of 4.86%.

In general, on February 9, global stock markets were quite optimistic. In addition to strong corporate reports, the macroeconomic data from Germany was also of key importance. Thus, the volume of the country's exports in December in monthly terms rose by 0.9% and imports - by 4.7%.

Investors hope that the geopolitical conflict in Eastern Europe will soon be resolved, especially after French President Emmanuel Macron has visited Moscow and Kyiv. European and American officials are convinced that the only way to handle the conflict on the border with Ukraine is to implement the Minsk agreements.

Forecast for USD/JPY on February 11, 2022

The dollar's effort to settle above the MACD indicator line on the daily chart of the USD/JPY pair was not in vain - yesterday the price jumped by 86 points, closing the day with a rise of 52 points. Now the way for the dollar to the line of the price channel of the monthly chart in the area of 117.17 is open.

On the four-hour chart, visually stable growth continues in the price channel. The Marlin Oscillator is in no hurry to grow, which allows the price to reach the lower border of the price channel either by a small correction, or by a sideways movement - by consolidation. Next, we are waiting for a new wave of growth.

Forecast for EUR/USD on February 11, 2022

On Thursday, with the release of data on inflation in the US, the euro traded in a range of 120 points, marking the target level of 1.1496 with an upper shadow. To be precise, yesterday's peak was 1.1495, but one point can be neglected as a fluctuation effect. Inflation (CPI) in the US increased from 7.0% y/y to 7.5% y/y in January, and this is the highest rate since 1982. Market participants are now waiting for the March rate increase immediately by 0.50%. We are now waiting for the euro to go into a correction in the area of the MACD indicator line on the daily chart, to the target level of 1.1300 (August 2018 low). At this level, the question will be decided - will the price turn from it into further growth, towards the target 1.1700/22, or will it consolidate below it and continue to decline to 1.1060.

On the four-hour chart, the price went under the balance indicator line, visually getting ready to attack the MACD line (1.1355), overcoming which will make it possible to get ready to take 1.1300. The signal line of the Marlin Oscillator turned down from the zero line (arrow), which is an additional confirmation of the price's intention to develop a downward movement.

Forecast for AUD/USD on February 15, 2022

Over the past day, the situation on the Australian dollar has not changed. The price tried to reach the target level of 0.7065, but returned to its original positions. Now we are waiting for a second such attempt, the target of 0.7065 remains relevant. The 0.6950 level is a promising target, which coincides (at the moment) with the lower border of the descending channel of the Marlin Oscillator.

On the four-hour chart, just like a day ago, the price is gathering strength to overcome the support of the MACD line at the price of 0.7120. Consolidation below it will reopen the target level of 0.7065. The Marlin Oscillator is in a downward position.

Forecast for EUR/USD on February 15, 2022

Yesterday's decline in the euro amounted to 44 points. The lower daily shadow reached the MACD line, but there was no consolidation either under it or under the price level of 1.1300. Well, since the delay occurred in the range of the monthly consolidation of December 2021, then a sideways movement is likely for another one or two days. Overcoming yesterday's low (1.1280), which will correspond to the breakthrough of the MACD line, will open the target at 1.1060. A reversal of the euro into growth is possible, but the signal level is very high - this is the high of February 10 at 1.1495. Before crossing this level, strong chaotic movements in the range of 1.1300-1.1496 are very likely. But such movements in themselves will already be a sign of further growth of the euro, to the target range of 1.1700/22. Downward movement is expected to be smooth.

On a four-hour scale, the price is consolidating at 1.1300. The signal line of the Marlin Oscillator also lies sideways. Price and oscillator in downward trend zones. A change in trends may occur when the price goes above the MACD line, above 1.1364. This will be a sign of its further movement towards 1.1496. But, based on the situation on the daily chart, such a local growth may turn out to be false. We are waiting for the development of the situation.

US stock indices trade mixed

US stock indices closed mixed on Wednesday. The Dow Jones and the NASDAQ lost 0.16% and 0.11% respectively. The S&P 500 added 0.1%.

The indices showed 2 sessions of decline. However, the FOMC Minutes for January released yesterday installed optimism in markets. Traders are now trying to guess whether this is going to be a quarter or a half-percentage-point interest rate hike next month.

Easing tensions between Russia and Ukraine are adding optimism. Russian troops are returning to their permanent deployment sites after the exercises. Russia and Belarus began their joint military drills "2022 Union Resolve" to examine the readiness of its forces "suppressing and repelling external aggression," and countering terrorism. The military exercise does not pose any threat and its function is solely defensive, the parties said.

Continuing inflation is spooking investors. In the UK, the figure hit the 30-year high. In the US, retail sales jumped to 3.8% in January, much better than market forecasts of a 2% rise. On a yearly basis, US retail sales increased 13% in January, compared to a 16.7% rise in December.

Monetary policy, high energy prices, and global supply chain disruptions are among the forces driving inflation up. The Fed will have to resort to aggressive measures if inflation growth is not tamed.

Industrial production in the US increased 4.10% year-on-year in January. The figure had been expected to grow by 0.4%-05%. On a yearly basis, industrial production climbed 4.1%, following a 3.8% rise in December.

Uncertainty in the market is caused by various factors, including galloping inflation, monetary measures by regulators, the imbalance between supply and demand, as well as an uneven pace of the global economic recovery. The Russia-Ukraine conflict only adds fuel to the fire. All these factors, in turn, affect oil prices that have already soared to $93.66 per barrel.

Meanwhile, the earnings season in the US goes on. Kraft Heinz Co. incurred losses in Q4 2021. However, the adjusted figures showed higher-than-expected earnings. The company's stock added 5.6% as a result.

Roblox Corp. stock tumbled 26.5%, following disappointing Q4 earnings.

ViacomCBS plunged 17.8% after the publication of quarterly results below expectations.

Shopify Inc. lost 16%, following disappointing Q4 results, and despite higher-than-expected adjusted earnings.

The STOXX Europe 600 gained 0.1%. Japan's Nikkei 225 climbed 2.2%. The Korea Composite Stock Price Index advanced 2%. Hong Kong's Hang Seng Index rose 1.5% and China's Shanghai Composite added 0.6%.

American stock indicators fell on Friday and at the end of the week

The Dow Jones Industrial Average fell 232.85 points (0.68%) to 34,079.18 points. Standard & Poor's 500 decreased by 31.39 points (0.72%) - up to 4348.87 points. The Nasdaq Composite dropped 168.65 points (1.23%) to 13,548.07 points.

Dow Jones Industrial Average lost 1.9% over the week, S&P 500 - 1.6%, Nasdaq Composite - 1.8%.

Today the US markets are closed due to the holiday (Presidents' Day).

Shares of Shake Shack Inc. fell by 4.1% in trading on Friday. The American fast food chain halved its net loss in the fourth quarter of last fiscal year and increased revenue by more than a quarter, but did not issue a full-year forecast due to market uncertainty.

The cost of Roku Inc. shares. fell by 22%. The streaming equipment company's net income fell 65% in the fourth quarter, while its revenue forecast for the current quarter fell short of analysts' expectations.

Share price of Intel Corp. dropped by 5.3%. After the market closed on Thursday, the company released guidance for 2022 that came in better than market expectations. So, Intel predicts that its profit this year will be $3.5 per share on revenue of $76 billion, while the forecasts of experts polled by FactSet suggest earnings of $3.42 per share on revenue of $74.99.

Intel CEO Pat Gelsinger noted that revenue growth will be moderate this year and will begin to accelerate from next year. By 2025-2026 they will increase to 10-12% per year and will remain double-digit in the future.

Deere & Co., which released its first financial quarter results on Friday, shed 3% despite the company's strong results. The US farm equipment maker's net income and revenue beat market forecasts last quarter.

Share price of JPMorgan Chase & Co. increased by 0.5%. The bank's chief financial officer, Jeremy Barnum, expressed confidence that JPMorgan could achieve a medium-term return on tangible capital (ROTCE) of 17%.

Barnum also noted that the bank's financial markets division's revenue is likely to fall by 10% in the first quarter, but this rate of decline will be lower than expected. In addition, he confirmed that JPMorgan plans to increase capex by $3.5 billion in 2022, including investments in technology projects.

From the perspective of investors, one of the most important consequences of the escalation of the crisis for the global economy could be a reduction in the supply of oil on the market. Russia is one of the world's largest producers of this type of raw material, and potential sanctions or any other restrictions could lead to an even more significant rise in prices, experts say.

Statistical data on the US housing market, published on Friday, were better than expected. US existing home sales increased 6.7% in January to 6.5 million homes on an annualized basis, the National Association of Realtors (NAR) said. In December, resales decreased by 3.8% and amounted to 6.09 million, and not 6.18 million as previously reported. Experts on average predicted a decline of 1% compared to the previously announced figure.

Simplified wave analysis and forecast for EUR/USD, USD/JPY, GOLD for February 23

EUR/USD

Analysis:
The wave construction of the European currency chart, which has not been completed for today, has been reported since January 28. This rising wave has a reversal potential. If it is confirmed, the wave will give rise to a new short-term trend. The downward section of the last two weeks has not yet gone beyond the correction.

Forecast:
Today, the price is expected to move between the nearest oncoming zones. In the first half of the day, a downward course is more likely. At the end of the day or tomorrow in the area of settlement support, you can expect a reversal and a resumption of the price rise.

Potential reversal zones

Resistance:
- 1.1360/1.1390

Support:
- 1.1290/1.1260

Recommendations:
Euro trading in the near future can bring profit only in the form of short-term transactions in a small lot. Purchases will become possible after the appearance of confirmed reversal signals in the area of the support zone.

USD/JPY

Analysis:
The trend rate of the Japanese yen major in the last two years is set by the ascending wave algorithm. Quotes are currently located within the boundaries of the resistance zone of the senior TF. The unfinished section has been counting since November 30 last year. In the last two weeks, the price in sideways flat forms an intermediate pullback.

Forecast:
On the current day, the price is expected to move from the lower border of the price corridor to the area of the calculated resistance. At the European session, pressure on the support zone is not excluded, with a short-term puncture of the lower border.

Potential reversal zones

Resistance:
- 115.50/115.80

Support:
- 114.80/114.50

Recommendations:
Today, short-term purchases with a fractional lot from the support zone are possible on the yen chart. It is recommended to close deals at the first signs of an imminent reversal.

GOLD

Analysis:
The rising wave brought gold quotes to the area of the strong resistance of a large TF. Before continuing the rise, the structure needs to increase its wave level in correction.

Forecast:
In the next day, the price is expected to move sideways with a common downward vector. The preliminary target zone runs along the upper boundary of the large-scale support zone.

Potential reversal zones

Resistance:
- 1905.0/1910.0

Support:
- 1875.0/1870.0

Recommendations:
Short-term fractional lot sales are possible until the current decline is completed. It is optimal to refrain from entering the market of the instrument until the confirmed buy signals appear in the area of the support zone.

Hot forecast for GBP/USD on 25/02/2022

Yesterday, the pound was losing its positions for almost the entire day. And this process was accompanied by incessant reports of fighting in Ukraine. Investors were panicking and running away from risk. After all, the war is going on in Europe. This means that the risks extend to the entire continent. After the fighting began to gradually subside and acquire a largely fragmentary character, a banal technical correction began on the market. Which, in general, is not surprising, given the scale of the previous decline. But we are talking about a temporary stop. After the start of the corrective movement, Western countries gradually began to voice the imposed sanctions, which in fact turned out to be not as terrifying as promised. However, Western countries immediately declared that this is only the first block of sanctions, and if military actions do not stop, additional ones will be introduced. So the sanctions themselves have not affected the market in any way so far. They will begin to affect us in the near future. And only in a negative way. The fact is that Russia can fend off most of them with retaliatory sanctions that will cause comparable damage to the economies of Western countries. So now the market is waiting for retaliatory actions from Moscow, which the Kremlin clearly hinted at last night. In other words, yesterday evening's growth of the pound is only temporary and is rather a respite before a new wave of decline.

The British currency against the US dollar in the wake of strong speculation locally lost more than 300 points in value over two trading days. This led to the renewal of the 2022 low and a strong overheating of short positions. As a result, there was a technical correction in the market.

The RSI technical instrument fell to 20.76 in a four-hour period, which signaled a high level of oversold pound.

Moving MA lines on the Alligator H4 indicator indicate a downward trend. There is no intersection between MA lines.

Expectations and prospects:

In this situation, the correction is still taking place in the market, which led to a partial recovery of the British currency. The values of 1.3450 and 1.3480 can play as a possible resistance on the bulls' way. Thus, the downward move may eventually resume, supporting the general strengthening of dollar positions in the market. The largest increase in the volume of short positions is expected after keeping the price below 1.3350 in the daily period.

A complex indicator analysis gives a signal to buy in the short-term and intraday periods due to the corrective move. Technical instruments in the medium term indicate a downward move, signaling a sell.

US stock market closes lower, Dow Jones unchanged

At the close of the New York Stock Exchange, the Dow Jones remained unchanged at 0%, the S&P 500 fell 0.25%, and the NASDAQ Composite index remained unchanged at 0%.

Chevron Corp was the top gainer among the components of the Dow Jones in today's trading, unchanged by 0 points (0%) to close at 133.42. Quotes of Boeing Co remained unchanged by 0 points (0%), closing the session at 209.03. Salesforce.com Inc. was unchanged by 0 points (0%) to close at 196.84.

The biggest losers were JPMorgan Chase & Co shares, which remained unchanged by 0 points (0%), closing the session at 152.14. Goldman Sachs Group Inc was unchanged by 0 points (0%) to close at 346.04, while Nike Inc was down 0 points (0%) to close at 142.95.

Leading gainers among the components of the S&P 500 in today's trading were SolarEdge Technologies Inc, which was unchanged at 0% to 257.91, Occidental Petroleum Corporation, which was unchanged at 0% to close at 39.56, and shares of Enphase Energy Inc, which remained unchanged 0%, ending the session at 140.35.

The biggest losers were EPAM Systems Inc, which were virtually unchanged at 0% closing at 443.23. Shares of Viatris Inc remained unchanged at 0% and ended the session at 14.71. Dentsply Sirona Inc remained unchanged by 0% at 55.09.

Leading gainers among the components of the NASDAQ Composite in today's trading were Mullen Automotive Inc, which was unchanged at 0% to hit 0.63, Neurosense Therapeutics Ltd, which was unchanged at 0% to close at 1.57, and shares of China SXT Pharmaceuticals Inc, which remained unchanged 0%, closing the session at 0.1826.

The losers were VEON Ltd shares, which remained almost unchanged at 0%, closing at 1.3500. Shares of Lexicon Pharmaceuticals Inc remained unchanged at 0% and ended the session at 2,740. Esports Entertainment Group Inc remained unchanged by 0% at 2.97.

On the New York Stock Exchange, the number of securities that fell in price (1692) exceeded the number of those that closed in positive territory (1554), while quotes of 117 shares remained virtually unchanged. On the NASDAQ stock exchange, 1,936 stocks fell, 1,917 rose, and 222 remained at the previous close.

The CBOE Volatility Index, which is based on S&P 500 options trading, remained unchanged at 0% at 27.75.

Gold Futures for April delivery added 0.63%, or 12.05, to $1,911.85 a troy ounce. In other commodities, WTI April futures rose 3.68%, or 3.32, to $93.53 a barrel. Futures for Brent crude for May delivery rose 2.10%, or 1.95, to $94.94 a barrel.

Meanwhile, in the Forex market, the EUR/USD pair remained unchanged 0% to 1.1312, while USD/JPY remained unchanged 0% to hit 114.74.

Futures on the USD index rose 0.10% to 96.112.