The Dow Jones Industrial Average came very close to its 20,000 milestone before falling short and backing off. The blue-chip index came within a point of the level in the afternoon session. Crude oil ended the day with slight gains even after another increase in the number of active oil rigs drilling for crude in the U.S. Baker Hughes (BHI) data showed an increase for the tenth consecutive week in a row. PriceSmart (PSMT) reported a mixed quarter. The warehouse club retailer surpassed earnings estimates, while falling short on sales. PriceSmart said a stronger U.S. dollar and weakness in key regions had hampered its quarterly performance. Amgen (AMGN) climbed after a federal judge ruled that drugmaker Regeneron (REGN) had to pull a rival cholesterol drug from shelves. The decision was part of a patent lawsuit.
More from Currencies
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The near universal faith in central bank liquidity's ability to buoy stocks may be unjustified in the face of weakening fundamentals.
What the Dollar Does Here Is Key for Gold and Market Trends in 2020
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Japanese and Thai Stocks Take Iran Missile Hit
Markets in Thailand and Tokyo were the main losers on Wednesday, though Asian investors in general appear reassured the worst is over with Iran.
Asia's Currency Underperformers Look Like Good Bets for 2020 Gains
The won, rupee and yuan may turn from the poorest performance in 2019 to solid runs in 2020, while the Iran-induced run to the dollar and yen may reverse fast.
Currencies Will Eventually Matter for Crude Oil and Other Commodities
If the currency markets come back to life it will put oil back on the trading screens of speculators.
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