Equities mixed after Wall Street dipped - 1.7.2024

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 0.1% lower on Friday.

GBP/USD ended flat on Friday while EUR/USD slowed its climbing as data showed French consumer prices rose 2.5% over year in June, in line with expectations. Both euro and Pound are higher against the dollar currently. Both USD/JPY and AUD/USD resumed advancing on Friday with the yen lower against the Greenback currently and the Australian dollar higher still.

US stock index futures are higher with the yield on benchmark 10-year Treasury notes up at 4.392%. The three main stock benchmarks ended down on Friday with daily losses in the range of -0.7% to -0.1% despite moderating personal consumption expenditures price index data that raised the odds of a Federal Reserve interest rate cut.

European indexes futures are rising today after stock indexes closed lower on Friday while technology shares led gains. Asian stock indexes futures are mixed today with Japan’s Nikkei leading losses as Japan's Q1 GDP was downgraded indicating the economy shrank more than estimated in the first quarter.

Brent is edging higher currently. Prices ended lower on Friday as Energy Information Administration's Petroleum Supply Monthly report indicated demand for gasoline fell. West Texas Intermediate (WTI) futures ended 0.24% lower but are higher currently. Brent futures slid 0.3% to $85.00 a barrel on Friday.