Markets mixed after Wall Street closed mixed - 2.4.2024

Senior Analytical Expert

Articles:779

Todays’ Market Summary

The Dollar strengthening is intact
Futures on three main US stock indexes are lower
Brent is extending gains currently.
Gold prices are rising currently

Top daily news

Global stocks are trading mixed currently after US markets ended mixed on Monday. Google’s parent Alphabet shares jumped 2.78% outperforming market on privacy lawsuit settlement in a federal court that includes no payment from Google as the company agreed to expunge “billions” of data records that reflect people’s private browsing in a private “incognito” browsing mode, Microsoft shares added 0.99% on Monday while Jefferies maintained a Buy rating on Microsoft Corporation and increased its price target to $550 from the previous $465.

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Forex news

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

The Dollar strengthening is intact 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 0.6% higher on Monday.

Both EUR/USD and GBP/USD fell on Monday. Both Pound and euro are lower against the dollar currently. USD/JPY reversed its retreating yesterday while AUD/USD accelerated its sliding with the yen lower against the Greenback currently and Australian dollar higher.

Stock Market news

Indices	Change
Dow Jones Index	-0.2%
Nikkei Index	-0.1%
Hang Seng Index	+1.9%
Australian Stock Index	+0.5%

Futures on three main US stock indexes are lower currently with the yield on benchmark 10-year Treasury down at 4.307%. US markets closed mixed on Monday with the three main stock benchmarks recording daily returns in a range from -0.6% to 0.11% as the strong report from the Institute for Supply Management (ISM) showing US factory activity unexpectedly expanded in March for the first time since September 2022 pared bets the Federal Reserve was close to cutting interest rates.

European stock indexes futures are up currently ahead of market opening following Easter Monday holiday. Traders will be watching closely for preliminary German inflation data today that are expected to show inflation moderated further in March. Asian indexes futures are mixed today with Hong Kong’s Hang Seng index leading gains as the latest Caixin manufacturing activity data signaled China’s economic recovery is gaining traction.

Commodity Market news

Commodities	Change
Brent Crude Oil	+0.5%
WTI Crude	+0.6%

Brent is extending gains currently. Oil prices ended about 1% higher yesterday amid reports the US manufacturing grew in March for the first time in one and half years and manufacturing activity in China expanded in March for the first time in six months. US West Texas Intermediate WTI rose 0.7% from the March 28 settlement price for the June contract and is higher currently. Brent added 0.5% to $87.42 a barrel on Monday.