Markets mixed after US stocks’ retreat - 16.10.2024

Senior Analytical Expert

Articles:884

Todays’ Market Summary

The Dollar strengthening has resumed currently
Futures on three main US stock indexes are mixed
Brent is extending losses currently.
Gold prices are extending gains currently

Top daily news

Global equity indexes are pointing in different directions currently after Wall Street dipped on Tuesday. Apple shares advanced 1.1% outperforming market as the tech giant announced the newest version of its iPad Mini which will be powerful enough to use Apple's new artificial intelligence (AI) features when they launch starting this month, and be compatible with the new Apple Pencil Pro, Nvidia lost 4.7% on Tuesday after reports the United States may introduce chip export curbs.

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Forex news

Currency Pair	Change
EUR/USD	-0.1%
GBP/USD	-0.7%
USD/JPY	+0.1%
AUDUSD	-0.1%

The Dollar strengthening has resumed 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, ended little changed on Tuesday.

EUR/USD slowed its retreating while GBP/USD reversed its sliding yesterday as euro zone annual headline inflation on an EU-harmonized basis was revised down. Both Pound and euro are lower against the dollar currently. USD/JPY joined AUD/USD’s accelerated retreating on Tuesday with both the yen and Australian dollar lower against the Greenback currently.

Stock Market news

Indices	Change
DJI	-0.03%
NIKKEI	+0.5%
HK50	+0.9%
AU200	+0.3%

Futures on three main US stock indexes are mixed currently ahead of import prices report at 16:30 CET with the yield on benchmark 10-year US notes down at 4.036%. Stock indexes ended down on Tuesday as three main stock benchmarks recorded daily losses in a range from -1.0% to -0.75% led by chipmaker shares after Dutch tech giant ASML reported disappointing slump in sales bookings of its chip-making machines to the semiconductor industry and announced a cut to its 2025 guidance.

European stock indexes are mixed currently after closing mixed on Tuesday with oil and gas shares leading losses. Asian indexes futures are mostly higher today with Hong Kong’s Hang Seng index leading gains.

Commodity Market news

Commodities	Change
#C-BRENT	-0.2%
OIL	-0.3%

Brent is extending losses currently. Prices ended sharply lower yesterday on weaker demand outlook as both the Organization of the Petroleum Exporting Countries and the International Energy Agency this week cut their forecasts for global oil demand growth in 2024. The US oil benchmark West Texas Intermediate (WTI) dropped 4.4% and is lower currently. Brent slumped 4.1% to $74.25 a barrel on Tuesday.