Markets mixed after Wall Street extended gains - 13.9.2024

Senior Analytical Expert

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Todays’ Market Summary

The Dollar weakening is intact
US stock index futures are higher
Brent is inching up currently.
Gold is extending gains presently.

Top daily news

Global equity indexes are pointing in different directions currently ahead of University of Michigan Consumer Sentiment report due at 18:00 CET today after Wall Street ended higher again on Thursday. Microsoft shares rose 0.9% amid reports the tech giant will eliminate another 650 positions at its Xbox gaming division, Meta shares rose 2.94% on Thursday outperforming market.

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Forex news

Currency Pair	Change
EUR USD	+0.1%
GBP USD	+0.1%
USD JPY	-0.1%
AUD USD	+0.1%

The Dollar weakening is intact 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% lower on Thursday.

Both EUR/USD and GBP/USD reversed their sliding yesterday while the European Central Bank (ECB) slashed rates again by 25 basis points. Both euro and Pound are higher against the dollar currently. USD/JPY accelerated its sliding while AUD/USD accelerated its advancing on Thursday with the yen higher against the Greenback currently and Australian dollar lower.

Stock Market news

Indices	Change
Dow Jones Index	+0.2%
Nikkei Index	-0.8%
Hang Seng Index	+0.6%
Australian Stock Index	-0.1%

US stock index futures are higher currently with the yield on benchmark 10-year Treasury notes down at 3.648%. The three main stock benchmarks ended up on Thursday recording daily gains in a range from 0.6% to 1.0% as data showed US wholesale prices inflation slowed to 1.7% from 2.1% in August.

European indexes futures are rising today after stock indexes closed up on Thursday while mining shares led gainers. Asian stock indexes futures are mixed today with Japan’s Nikkei leading losses on the back of soft producer prices inflation data the previous day.

Commodity Market news

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

Brent is inching up currently. Prices ended 2% higher on Thursday as producers assessed the impact of Hurricane Francine on output in the US Gulf of Mexico. Over 730,000 barrels per day, or nearly 42%, of Gulf of Mexico oil output was shut-in due to storm Francine on Thursday. West Texas Intermediate (WTI) futures rose 1.9% and are higher currently. Brent futures ended 2.5% higher at $68.97 a barrel on Thursday.