Equities retreat after Wall Steet advanced - 3.6.2025

The Dollar weakening has reversed 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 0.56% lower on Monday.

Both EUR/USD and GBP/USD reversed their sliding yesterday despite SP Global revising downward German Manufacturing PMI for May in the final report. Both Pound and euro are lower against the dollar currently. USD/JPY accelerated its retreating while AUD/USD accelerated its climbing on Monday with both the yen and Australian dollar lower against the Greenback currently.  

Futures on three main US stock indexes are down currently ahead of several Federal Open Market Committee members’ speeches today starting with Federal Reserve Bank of Chicago President Austan Goolsbee discussion scheduled for 18:45 CET. The yield on 10-year Treasury down is down at 4.422%. US stock market ended higher on Monday with the three main stock benchmarks recording daily gains in the range from 0.1% to 0.7% despite ISM Manufacturing report showing US manufacturing contracted for a third straight month in May.

European stock indexes futures are sliding currently after indexes closed mixed on Monday with autos stocks leading losses after president Trump’s announcement he will double tariffs on steel and aluminum imports to 50%. Asian indexes futures are mostly falling currently with Hong Kong’s Hang Seng index defying the trend despite data showing China’s factory activity in May shrank for the first time in eight months.

Brent is edging lower currently. Oil prices ended over 2% higher yesterday after eight OPEC+ countries decided on Saturday to raise output by 411,000 barrels per day in July, the third consecutive monthly increase of that amount. US West Texas Intermediate WTI ended 2.85% higher but are lower currently. Brent jumped 2.95% to $64.63 a barrel on Monday.