London morning: S&P 500 closes at 7744.06, Nikkei 225 up 1.39%

The S&P 500 closed at 7744.06 on Thursday, Oct. 15, up 0.33% from the prior session. The Nasdaq 100 was little changed at -0.05%, while the Nikkei 225 gained 1.39% in Tokyo on Friday.

What happened

The S&P 500 finished the New York session at 7744.06. That was a gain of 25.12 points from the previous close of 7718.94, or 0.33%. The reading is as of 16:00 New York time on Oct. 15.

The Nasdaq 100 followed a different path. It ended at 29935.59, which is 15.23 points below the previous close of 29950.82.

The two US benchmarks therefore closed in slightly different directions. The broad index moved higher, while the technology-heavy index was little changed and a touch lower.

Asia and currencies

In Tokyo, the Nikkei 225 stood at 65324.29 at 15:25 local time on Oct. 16. The previous close was 64425.95.

The Japanese index therefore stood above the level of the day before. Its percentage gain was larger than the changes recorded by either US index in the previous session.

In currencies, EUR/USD stood at 1.1236 at 07:00 UTC, which is 08:00 in London. The pair was up 0.0015, or 0.14%, from the previous close of 1.1221. The euro therefore stands a little higher against the dollar at the start of the European day.

Background and previous values

The previous closes help to show the size of each move. The S&P 500 had ended the prior session at 7718.94, and the Nasdaq 100 at 29950.82. The Nikkei 225 had closed at 64425.95 before today's advance in Tokyo.

For the S&P 500, the difference between the two closes is a rise of 25.12 points. For the Nasdaq 100, the difference is a fall of 15.23 points. These are the two figures that make up the mixed picture in the United States.

For the Nikkei 225, the difference between the two levels is a rise of 898.34 points. That is the largest gap in points among the three equity benchmarks, although the indices are on different scales and the points are not directly comparable.

The US session and the Asian session are separate trading days. The US figures refer to Thursday's close in New York. The Japanese figure is a Friday level taken in the afternoon in Tokyo. European equity markets have not yet opened at the time of writing.

The EUR/USD figure shows where the pair stands at 07:00 UTC, set against the previous close of 1.1221. The move of 0.0015 is small in absolute terms, and it equals 0.14%.

Why it matters

The overnight data give European participants a reference point before the opening. The S&P 500 level and the Nikkei 225 level show where two of the largest equity markets stand as the day starts in London.

The mixed US close is also a useful detail. A gain of 0.33% in the S&P 500, alongside a change of -0.05% in the Nasdaq 100, shows that the two indices did not move together on Thursday. The gap between them is small, but the direction differs.

The Nikkei 225 gain of 1.39% shows that Japanese equities were moving higher while the US indices showed smaller changes. For readers who follow global markets, the contrast between the two regions is part of the morning picture.

The EUR/USD level matters for companies and investors with exposure across the euro and the dollar. At 1.1236, the pair is slightly above its previous close of 1.1221, a rise of 0.14%.

Together, the four readings give a compact view of equities in two time zones and of one major currency pair. They describe where markets stand and do not say where they will go.

What to watch next

The Italian Stock Exchange holds its session today from 09:00 to 17:30 Rome time. It is one of the European venues that will react to the overnight moves in the US and Japan.

Market participants will look at how European indices open relative to the US close of Oct. 15. They will also follow where the Nikkei 225 stands against its level of 65324.29 at 15:25, and where EUR/USD stands compared with 1.1236.

The next update of each figure will show how the market digests the Thursday close in New York and the Friday gain in Tokyo. The next US session will also show whether the S&P 500 and the Nasdaq 100 move in the same direction or keep the split seen on Thursday.

No scheduled releases or company events are included in this morning's snapshot, so the market levels above are the main reference points for the start of trading in London and Milan.