Stocks rebound despite escalation of tariffs war - 10.2.2025

The Dollar jumped today. 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 0.4% higher on Friday.

GBP/USD slowed its sliding while EUR/USD accelerated its retreating on Friday as federal statistics office Destatis reported German industrial production fell more than forecast in December. Both euro and Pound are lower against the Dollar currently. USD/JPY slowed its retreating and AUD/USD accelerated its sliding on Friday with the yen lower against the Greenback currently and Australian dollar higher.

US stock indexes futures are rising currently after dipping on Friday as preliminary University of Michigan survey showed US consumer sentiment dropped unexpectedly in February to a seven-month low while nonfarm payrolls report indicated US job growth slowed more than expected in January after robust gains in the prior two months. The three main US stock benchmarks recorded daily losses in the range from -1.36% to -0.99% on the last trading day of the first week of February. Trump said overnight he would announce today 25% tariffs on all steel and aluminum imports into the US, and reveal other reciprocal tariffs on Tuesday or Wednesday.

European stock futures are higher currently after closing lower on Friday as Halifax’s House Price Index data showed the average house price in Britain rose 0.7% over month in January to £299,138 ($372, 013) — a new record high. Asian stock indexes futures are up today with Hong Kong’s Hang Seng index leading gains as China's retaliatory tariffs on some US exports are taking effect today, with no sign as yet of progress between Beijing and Washington.

Brent is rising currently. Prices ended higher on Friday after US Treasury said the previous day it was imposing new sanctions on a few individuals and tankers helping to ship millions of barrels of Iranian crude oil per year to China. US West Texas Intermediate WTI rose 0.55% and is higher currently. Brent added 0.5% to $74.66 a barrel on Friday.