Stocks mixed after strong US nonfarm payrolls report - 7.10.2024

Senior Analytical Expert

Articles:927

Todays’ Market Summary

The Dollar strengthening is intact
US stock indexes futures are lower currently
Brent is edging up currently.
Gold prices are steady currently

Top daily news

Global stock are trading in different directions currently after US stocks rebounded on Friday following a stronger than expected jobs report. Apple stock rose 0.5% outperforming market after reports previous day CEO Tim Cook is set to gain over $50 million from selling 223,986 shares of Apple stock, Nvidia stock rose 1.68% on Friday after the semiconductor giant paid out its quarterly dividend on Thursday to the tune of $0.010 per share while CEO Jensen Huang received about $8.6 million.

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Forex news

Currency Pair	Change
EUR/USD	+0.1%
GBP/USD	-0.2%
USD/JPY	-0.1%
AUDUSD	-0.1%

The Dollar strengthening is intact 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, jumped 0.5% on Friday.

GBP/USD reversed its sliding on Friday while EUR/USD accelerated its sliding. Both Pound and euro are lower against the Dollar currently. USD/JPY accelerated its advancing on Friday while AUD/USD accelerated its sliding with the yen higher against the Greenback currently and Australian dollar lower still.

Stock Market news

Indices	Change
DJI	-0.4%
NIKKEI	-1.4%
HK50	+2.6%
AU200	+0.1%

US stock indexes futures are lower currently after ending higher on Friday. The three main US stock benchmarks recorded daily returns in the range from 0.8% to 1.2% as US Department of Labor reported the worlds biggest economy added above expected 254,000 jobs in September while the unemployment rate dipped from 4.2% to 4.1%.

European stock futures are down after closing up on Friday led by auto shares after the European Union voted to adopt definitive tariffs on China-made battery electric vehicles despite Germany voting against the tariffs. Asian stock indexes futures are mixed today with Hong Kongs Hang Seng index leading gains while mainland Chinese stocks remain closed until Tuesday for the Golden Week holiday.

Commodity Market news

Commodities	Change
OIL	+0.6%
#C-BRENT	+0.5%

Brent is edging up currently. Prices ended higher on Friday amid rising concerns over region-wide war in the Middle East after Iran launched a barrage of missiles at Israel on Tuesday following assassination of the leader of Iran-backed Hezbollah by Israel a week ago. US West Texas Intermediate WTI added 0.9% but is lower currently. Brent rose 0.6% to $78.05 a barrel on Friday.