Equities rise after Dow hit all-time high - 17.9.2024

The Dollar weakening continues 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 0.3% lower on Monday.

EUR/USD and GBP/USD accelerated their climbing on Monday while Eurostat reported euro area trade surplus decline was smaller than forecast in July. Both Pound and euro are higher against the dollar currently. USD/JPY slowed its retreating yesterday while AUD/USD reversed its sliding with both the yen and Australian dollar higher against the Greenback currently.

Futures on three main US stock indexes are up currently with the yield on benchmark 10-year Treasury up at 3.627%. US markets ended mixed on Monday as the three main stock benchmarks recorded daily returns in a range from -0.5% to 0.55% with tech stocks leading losses as expectations grew that the Federal Reserve could cut interest rates by as much as half a point tomorrow.

European stock indexes futures are mixed currently after indexes closed mixed on Monday with tech shares leading losses. Asian indexes futures are mixed today with Hong Kong’s Hang Seng index leading gains while markets in mainland China remained closed for a holiday.

Brent is retracing lower currently. Oil prices ended higher yesterday as more than 12% of crude production and 16% of natural gas output in the US Gulf of Mexico remained offline in the aftermath of Hurricane Francine, according to the US Bureau of Safety and Environmental Enforcement. US West Texas Intermediate WTI ended 2.1% higher but is lower currently. Brent rose 1.59% to $72.75 a barrel on Monday.