Equities mixed as investors await more inflation cues - 14.5.2024

Senior Analytical Expert

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Todays’ Market Summary

The Dollar strengthening has resumed
Futures on three main US stock indexes are up
Brent is edging lower currently.
Gold prices are retracing higher currently

Top daily news

Global stocks are trading mixed currently after US markets ended mixed again on Monday. Apple shares rose 1.8% outperforming market on back of reports it had closed in on an agreement with ChatGPT-maker OpenAI to use the startup’s technology on the iPhone, Alphabet shares added 0.3% on Monday.

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Forex news

Currency Pair	Change
EUR/USD	-0.3%
GBP/USD	-0.2%
USD/JPY	+0.1%
AUD/USD	-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 0.1% lower on Monday.

Both EUR/USD and GBP/USD resumed their advancing on Monday. Both Pound and euro are lower against the dollar currently. USD/JPY accelerated its climbing yesterday while AUD/USD ended little changed with both the yen and Australian dollar lower against the Greenback currently.

Stock Market news

Indices	Change
DJIA	+0.1%
Japan 225	+0.3%
Hang Seng	-0.8%
Australia 200	-0.1%

Futures on three main US stock indexes are up currently with the yield on benchmark 10-year Treasury up at 4.485% ahead of US producer price index report at 14:30 CET and Fed Chair Powell’s speech at 16:00 CET today. US markets closed mixed again on Monday with the three main stock benchmarks recording daily returns in a range from -0.2% to 0.29%.

European stock indexes futures are mixed currently after indexes closed mixed on Monday with auto stocks leading gains. Asian indexes futures are mixed today with Hong Kong’s Hang Seng index leading losses weighed by Chinese property developers after Hong Kong shares of the property developer Agile Group Holdings Ltd sank nearly 15% following announcement it defaulted on an interest rate payment on Monday.

Commodity Market news

Commodities	Change
Brent	-0.1%
Light Weight Crude Oil	-0.1%

Brent is edging lower currently. Oil prices ended marginally lower yesterday extending losses that followed US crude oil inventories report las week indicating US gasoline and distillate inventories rose in the week ahead of the start of the US driving season. US West Texas Intermediate WTI ended 0.10% lower and is down currently. Brent slipped 0.1% to $82.72 a barrel on Monday.