The U.S. Dollar Index is trading at 94.61 up with +0.06% percent or +0.06 point. The Dow Futures is trading at 25,371.00 with a loss of -0.09% percent or -24.00 point. The S&P 500 Futures is trading at 2,816.50 with a loss of -0.02% percent or -0.50 point. The Nasdaq Futures is trading at 7,264.00 up with +0.27% percent or +19.25 point.
TODAY’S FACTORS AND EVENTS
The dollar strengthened on Wednesday, sending the Chinese yuan towards recent lows and pressuring the Australian dollar on fears of an imminent escalation in the trade dispute between the United States and China.
A source familiar with the matter said the Trump administration plans to propose a 25 percent tariff on $200 billion in Chinese imports, up from an original 10 percent, in a bid to pressure Beijing into making trade concessions.
With a possible escalation in the months-long dispute and fears about what it would mean for the Chinese and then the global economy, investors bought into the dollar and sold currencies linked to China’s economic fortunes.
PREVIOUS DAY ACTIVITY
For the day the Dow is trading at 25,415.19 up with +0.43% percent or +108.36 point. The S&P 500 is trading at 2,816.29 up with +0.49% percent or +13.69 point. The Nasdaq Composite is trading at 7,671.79 up with +0.49% percent or +0.55% point.
WORLD MARKETS
Other leading market index closes included the small-cap Russell 2000 Index closed at 1,670.80 up with +1.07% percent or +17.67 point; the S&P 600 Small-Cap Index closed at 1,048.88 up with +1.19% percent or +12.32 point; the S&P 400 Mid-Cap Index closed at 1,984.49 up with +0.92% percent or +18.08 point; the S&P 100 Index closed at 1,241.76 up with +0.33% percent or +4.13 point; the Russell 3000 Index closed at 1,670.96 up with +0.57% percent or +9.51 point; the Russell 1000 Index closed at 1,560.36 up with +0.53% percent or +8.25 point;