Equities mixed after Nasdaq, SP 500 closed at record highs - 4.12.2024

Senior Analytical Expert

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Todays’ Market Summary

The Dollar is strengthening
Futures on three main US stock indexes are higher
Brent is extending gains currently.
Gold prices are retracing down currently

Top daily news

Global equity indexes are trading in opposite directions currently after Nasdaq, SP 500 ended at record highs on Tuesday. Amazon shares rose 1.3% outperforming market while the tech giant announced it’s launching a new AI supercomputer built from its own machine learning Trainium AI-focused chip aiming to compete with rival chipmaking giant Nvidia, Tesla shares slid 1.6% on Tuesday after a US judge upheld her decision to reject Elon Musk’s $55.8 billion compensation package.

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Forex news

Currency Pair	Change
EUR/USD	+0.1%
GBP/USD	+0.2%
USD/JPY	+0.2%
AUD/USD	-0.3%

The Dollar is strengthening 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 0.1% lower on Tuesday.

Both EUR/USD and GBP/USD reversed their sliding yesterday. Both euro and Pound are higher against the dollar currently. Both USD/JPY and AUD/USD reversed their retreating on Tuesday with both the yen and Australian dollar lower against the Greenback currently.

Stock Market news

Indices	Change
DJIA	+0.3%
Japan 225	+0.5%
Hang Seng	+0.1%
Australia 200	+0.1%

Futures on three main US stock indexes are higher currently with the yield on benchmark 10-year US notes up at 4.228%. Stock indexes ended mixed again on Tuesday as three main stock benchmarks recorded daily returns in the range from -0.17% to 0.4% led by tech shares while a labor market report showed an increase in job openings in October, but also a decline in new job postings during the month.

European stock indexes are mixed currently after closing higher on Tuesday with retail shares leading gains. Asian indexes futures are mostly rising today with Japan’s Nikkei leading gains while gross domestic product data showed that Australia's economy grew less than expected in the September quarter.

Commodity Market news

Commodities	Change
Brent	+0.1%
Light Weight Crude Oil	+0.2%

Brent is extending gains currently. Prices reversed retreating yesterday after Israel threatened to attack the Lebanese state if its truce with Hezbollah collapses. The US oil benchmark West Texas Intermediate (WTI) jumped 2.7% and is higher currently. Brent rose 2.5% to $73.62 a barrel on Tuesday.