Equities rise after Wall Street closed mixed - 4.7.2024

The Dollar weakening persists 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, slid 0.3% on Wednesday.

Both GBP/USD and EUR/USD accelerated their advancing yesterday while final data from SP Global’s PMI survey showed euro area economic growth softened to three-month low in June. Both euro and Pound are higher against the dollar currently. USD/JPY joined in AUD/USD’s accelerated climbing on Wednesday with both the yen and the Australian dollar higher against the Greenback currently.

The US stock index futures are mixed currently while US markets are closed for July 4 holiday today. US stocks closed mixed on Wednesday with the three main US stock benchmarks recording daily returns in a range from -0.06% to 0.9% while US private-sector hiring data from ADP came in below expectations for June whereas a report from the Institute for Supply Management showed a surprise contraction in services industry activity. However SP 500 and Nasdaq again finished at fresh records.

European stock indexes futures are up currently after closing higher on Wednesday led by mining stocks. UK voters are heading to the polls today for parliamentary election. Asian stock indexes futures are mostly rising today with Australia’s S&P/ASX 200 All Ordinaries index leading gains despite data showing Australia’s trade balance fell more than expected in May.

Brent is down presently. Prices ended over $1 higher yesterday after the US Energy Information Administration (EIA) report US crude oil stocks fell by above expected 12.2 million barrels last week due to a rebound in refinery runs. The US oil benchmark West Texas Intermediate (WTI) futures added 1.3%. Brent crude rose 1.3% to $87.34 a barrel on Wednesday.