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Markets perk up after Wall Street rebound - 7.8.2024
Todays’ Market Summary
- The Dollar strengthening is intact currently
- Futures on three main US stock indexes are up
- Brent is advancing currently.
- Gold prices are edging up currently
Top daily news
Global equity indexes are advancing currently after Wall Street bounced on Tuesday following losses three sessions in a row. Alphabet shares slipped 0.06% underperforming market amid concerns over a second phase of the antitrust trial following federal judge’s ruling on August 5 that Google has violated antitrust laws by engaging in unfair business tactics to dominate the internet search advertising market, Amazon shares added 0.57% on Tuesday while Morgan Stanley dropped the company from its top pick list.
Forex news
| Currency Pair | Change |
| EUR/USD | -0.3% |
| GBP/USD | +0.1% |
| USD/JPY | +0.2% |
| AUD/USD | +0.2% |
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, ended 0.1% higher on Tuesday.
EUR/USD joined GBP/USD’s accelerated sliding yesterday. Pound is higher against the dollar currently while euro is lower. Both USD/JPY and AUD/USD reversed their retreating on Tuesday with the yen lower against the Greenback currently and Australian dollar higher still after the Bank of Japan said it won't raise interest rates when financial markets are unstable.
Stock Market news
| Indices | Change |
| DJIA | +0.6% |
| Nikkei 225 | +4.9% |
| Hang Seng (HSI) | +1.1% |
| Australia 200 | +0.4% |
Futures on three main US stock indexes are up currently with the yield on benchmark 10-year US notes up at 3.913%. Stock indexes ended higher on Tuesday as three main stock benchmarks recorded daily gains in a range from 0.8% to 1.0% amid bargain hunting.
European stock indexes are rising currently after closing higher on Tuesday with tech shares leading gains. Asian indexes futures are advancing today with Japan’s Nikkei leading gains following Tuesday's 10% rally.
Commodity Market news
| Commodities | Change |
| Brent Oil | +0.2% |
| WTI Crude Oil | +0.2% |
Brent is advancing currently. Prices ended higher yesterday as Libya's National Oil Corp said on Tuesday it would start to gradually decrease production at Sharara oilfield due to protests. The Energy Information Administration (EIA) will release its US inventory data at 18:30 CET today. The US oil benchmark West Texas Intermediate (WTI) added 0.4% and is higher currently. Brent gained 0.2% to $76.48 a barrel on Tuesday.
Gold Market News
| Metals | Change |
| XAU/USD | +0.1% |
Gold prices are edging up currently . Spot gold lost 0.8% to $2390.13 an ounce on Tuesday.
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