US Close 22 Jan 19: Markets struggle for direction with US market closed for public holiday

US sharemarkets were closed for Martin Luther King Jr. holiday. On Friday the Dow Jones index was higher by 336 points or 1.4%. The S&P500 index was up by 1.3%. The Nasdaq index was higher by 73 points or 1.0%. Over the week the Dow Jones rose by 3%, the S&P 500 rose by 2.9% and the Nasdaq rose by 2.7%.

European sharemarkets were generally weaker on Monday. Investors mulled the Chinese economic data. In corporate news Reuters noted that "German chemicals firm Henkel was the biggest STOXX 600 faller, down 9.75%, after the maker of Schwarzkopf shampoo and Persil detergent warned earnings would fall this year as it steps up investment in brands and digital technology to try to revive growth." The pan-European STOXX600 index fell by 0.2%. The UK FTSE lifted rose by less than 0.1% while the German Dax index fell 0.6%. In London trade, shares of Rio Tinto rose by 0.2% but BHP fell by 1.1%.

 

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