Top daily news
Equity indexes are pointing in different directions currently after US stocks closed up on Wednesday following two down sessions. Facebook shares rallied 5.37% outperforming market, Apple shares rose 3.82% on Wednesday amid reports that Apple is expected to diversify its MacBook supply chain and production in China to avoid a repeat of the severe disruption it suffered in the second quarter.
Forex news
The Dollar strengthening is intact 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, added 0.1% Wednesday.
EUR/USD reversed its sliding on Wednesday while GBP/USD continued retreating despite Eurostat report euro zone retail sales dropped by more than expected in June, falling 3.7% over year. Euro and Pound are higher against the Dollar currently. AUD/USD joined USD/JPY’s continuing advance yesterday with the Australian dollar higher against the Greenback currently and yen lower still.
Stock Market news
The US stock index futures are down currently ahead of Bureau of Labor Statistics report on unemployment claims and trade balance report due today at 14:30 CET. The three main US stock indexes booked solid gains ranging from 1.3% to 2.6% Wednesday led by tech shares as the Institute for Supply Management reported surprising strength in the massive US services sector.
European stock indexes futures are higher currently after closing up yesterday led by tech shares. The Bank of England is meeting today and is widely expected to implement the steepest rate hike in 27 years. Asian stock indexes futures are mixed today with Australia’s S&P/ASX 200 All Ordinaries index defying the regional up-cast trend.
Commodity Market news
Brent is edging higher currently. Prices fell yesterday after the Energy Information Administration report showing domestic crude oil inventories rose by 4.5 million barrels last week as exports fell and refiners lowered runs. Gasoline stocks also rose as demand slowed. The US oil benchmark West Texas Intermediate (WTI) futures dropped 4% but is higher currently. Brent crude fell 3.7% to $96.78 a barrel on Wednesday.
Gold Market News
Gold prices are extending gains currently. Spot gold rose 0.29% to $1765.10 an ounce on Wednesday.