Stocks edge up after Nvidia disappointed - 29.8.2024

Senior Analytical Expert

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Todays’ Market Summary

The Dollar strengthening has halted
The US stock index futures are mixed currently
Brent is edging down presently.
Gold prices are retracing higher

Top daily news

Global equity indexes are pointing mostly up currently as Nvidia results disappointed some bullish investors after the closing bell Wednesday. Wall Street ended lower yesterday. Nvidia shares dropped 6.9% underperforming market despite third-quarter revenue forecast of US chipmaking giant of $32.5 billion surpassing Wall Street estimates, Microsoft slid 0.78% on Wednesday.

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Forex news

Currency Pair	Change
EUR/USD	+0.1%
GBP/USD	+0.1%
USD/JPY	+0.2%
AUD/USD	+0.3%

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, rose 0.3% on Wednesday.

Both EUR/USD and GBP/USD reversed their climbing yesterday while the European Central Bank reported annual growth rate of adjusted loans to non-financial corporations slowed in July. Both Pound and euro are higher against the dollar currently. USD/JPY reversed its sliding while AUD/USD reversed its climbing on Wednesday with the yen lower against the Greenback currently and the Australian dollar higher.

Stock Market news

Indices	Change
DJIA	+0.3%
Nikkei 225	+0.8%
Hang Seng (HSI)	+0.7%
Australia 200	+0.2%

The US stock index futures are mixed currently ahead of unemployment claims and GDP second reading report due at 16:30 CET today. US stocks closed lower on Wednesday with the three main US stock benchmarks recording daily losses in a range from -1.1% to -0.4% while Fed Atlanta President Raphael Bostic said it may be "time to move" on rate cuts, but he wanted to see confirmation from the jobs reports and two inflation reports before the September meeting.

European stock indexes futures are higher currently after closing up on Wednesday led by chemicals shares. Asian stock indexes futures are mostly rising today with Hong Kong’s Hang Seng Index leading gains while two top Republican lawmakers yesterday asked the US Defense Department to add Chinese battery maker CATL to a restricted list of companies allegedly working with Beijing's military.

Commodity Market news

Commodities	Change
Brent Oil	-0.1%
WTI Crude Oil	-0.1%

Brent is edging down presently. Prices ended 1% lower yesterday after the US Energy Information Administration (EIA) report US crude oil stocks fell by below-expected 846 thousand barrels last week. The US oil benchmark West Texas Intermediate (WTI) futures fell 1.3% and are lower currently. Brent crude lost 1.13% to $78.65 a barrel on Wednesday.