Stocks up after US government shutdown averted - 2.10.2023

The Dollar strengthening has halted currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, ended 0.1% higher on Friday.

EUR/USD slowed its advancing on Friday while GBP/USD resumed its retreating as Eurostat reported euro zone inflation fell to 4.3% for the month of September - its lowest level since October 2021. Both euro and Pound are higher against the Dollar currently. USD/JPY resumed its climbing on Friday and AUD/USD ended little changed with both the yen and the Australian dollar lower against the Greenback currently.

US stocks indexes futures are up currently after closing mixed on Friday. The three main US stock benchmarks recorded daily returns in the range from -0.5% to 0.1% on Friday as Commerce Department data showed increases in personal consumption expenditures (PCE), the Federal Reserve’s preferred inflation gauge, cooled considerably in August with a slowdown in consumer spending.

European stock indexes futures are higher currently after closing up on Friday while stocks recorded losses for the month. Asian stock indexes futures are mostly up today with Australia’s ASX 200 index leading gains as markets in Hong Kong and China are closed for a holiday while the Bank of Japan said it would buy bonds with 5-10 years to maturity on Wednesday.

Brent is rebounding currently. Oil prices ended 1.0% higher on Friday while the energy services firm Baker Hughes reported the total count of active US oil and gas rigs fell by seven to 623, the lowest since February 2022. The US oil benchmark West Texas Intermediate (WTI) declined 1% but is higher currently. Brent lost 1.0% to $92.20 a barrel on Friday. Brent and WTI gained about 2.2% and 1% for the week respectively.