Equities subdued after Wall Street dip - 15.11.2024

Senior Analytical Expert

Articles:906

Todays’ Market Summary

The Dollar strengthening has halted
US stock index futures are down
Brent is edging lower currently.
Gold is edging down presently.

Top daily news

Global stocks are trading mostly down currently after US stocks closed lower on Thursday following Fed chair Powell’s bearish comments. Tesla shares slumped 5.8% underperforming market amid reports that President-elect Donald Trump could end a popular $7,500 consumer tax credit for EV purchases, Meta shares slid 0.5% on Thursday.

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Forex news

Currency Pair	Change
EURUSD	+0.2%
GBPUSD	+0.1%
USDJPY	-0.1%
AUDUSD	+0.1%

The Dollar strengthening has halted 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 Thursday.

Both EUR/USD and GBP/USD continued their retreating yesterday while the Eurostat reported employment in euro area ticked up while the economy expanded modestly. Both Pound and euro are higher against the dollar currently. USD/JPY continued its advancing while AUD/USD continued its sliding on Thursday with both the yen and Australian dollar higher against the Greenback currently.

Stock Market news

Indices	Change
DJI	-0.5%
NIKKEI	-1.1%
HK50	-0.2%
AU200	-0.3%

US stock index futures are down currently ahead of retail sales report at 17:30 CET today with the yield on benchmark 10-year Treasury notes up at 4.461%. The three main stock benchmarks ended lower on Thursday recording daily losses in a range from -0.64% to -0.47% after the Federal Reserve chairman Jerome Powel commented “the economy is not sending any signals that we need to be in a hurry to lower rates.”

European indexes futures are retreating today after stock indexes closed higher yesterday with tech shares leading shares. Asian stock indexes futures are sliding today with Japan’s Nikkei leading losses while data showed Chinese industrial production rose less than expected in October, as did fixed asset investment.

Commodity Market news

Commodities	Change
#C-BRENT	-0.1%
OIL	-0.2%

Brent is edging lower currently. Prices ended higher on Thursday after data from the Energy Information Administration showed US gasoline stocks fell unexpectedly by 4.4 million barrels last week. West Texas Intermediate (WTI) futures rose 0.4% but are lower currently. Brent futures added 0.4% to $72.56 a barrel on Thursday.