Equities mixed as Wall Street retreat deepened - 24.5.2024

Senior Analytical Expert

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Todays’ Market Summary

The Dollar strengthening has halted
US stock index futures are mixed currently
Brent is edging lower currently.
Gold is retracing up presently.

Top daily news

Global equity indexes futures are pointing in different directions currently after Wall Street extended losses on Thursday. Nvidia shares rallied 9.6% outperforming market after the AI chip leader forecast quarterly revenue above estimates and announced a stock split, Meta shares lost 0.43% on Thursday.

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Forex news

Currency Pair	Change
EURUSD	+0.2%
GBPUSD	+0.1%
USDJPY	+0.1%
AUDUSD	-0.1%

The Dollar strengthening has halted 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 0.2% higher on Thursday.

GBP/USD joined EUR/USD’s slowed retreating on Thursday while SP Global data showed economic recovery in the euro zone gained momentum in May. Both euro and Pound are little changed against the dollar currently. USD/JPY slowed its climbing while AUD/USD slowed its retreating yesterday with both the yen and the Australian dollar lower against the Greenback currently.

Stock Market news

Indices	Change
DJI	+0.1%
NIKKEI	+0.3%
HK50	-0.3%
AU200	+0.1%

US stock index futures are mixed currently with the yield on benchmark 10-year Treasury notes down at 4.469%. The three main stock benchmarks ended lower on Thursday with daily losses in the range of -1.5% to -0.4% while SP Global data showed private sector business activity expansion in the United States accelerated in May.

European indexes futures are lower today after stock indexes closed marginally higher on Thursday with technology shares leading gains. Asian stock indexes futures are mixed today with Hong Kong’s Hang Seng leading losses weighed by technology stocks.

Commodity Market news

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

Brent is edging lower currently. Prices ended lower fourth consecutive sessionon Thursday as data from the Energy Information Administration (EIA) showed the previous day a surprise 1.8 million barrels build in US crude inventories for last week. West Texas Intermediate (WTI) futures ended 0.9% lower and are lower currently. Brent futures lost 0.7% to $81.36 a barrel on Thursday.