Equities down after Dow posted a record close - 12.11.2024

The Dollar strengthening continues 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 0.5% higher on Monday.

Both EUR/USD and GBP/USD slowed their retreating on Monday. Pound and euro are lower against the dollar currently. USD/JPY joined AUD/USD’s slowed sliding yesterday with both the yen and Australian dollar lower against the Greenback currently.

Futures on three main US stock indexes are lower currently with the yield on benchmark 10-year Treasury up at 4.326%. US markets ended higher on Monday as the three main stock benchmarks recorded daily gains in a range from 0.06% to 0.69% led by bank shares.

European stock indexes futures are retreating currently after indexes closed higher on Monday with construction and materials shares leading gains. Asian indexes futures are falling today with Hong Kong’s Hang Seng index leading losses as China’s 10-trillion-yuan ($1.4-trillion) debt package unveiled on Friday failed to deliver the direct spending aimed at consumers that investors have been expecting.

Brent is edging lower currently. Oil prices ended more than 2% lower yesterday on concerns over slowing global demand and expected rise in supply. The concerns were spurred by weak Chinese inflation data pointing that China’s economy, world’s top importer of crude oil, is slowing. At the same time Bank of America Securities note projected that non-OPEC crude supply will grow by 1.4 million barrels per day (bpd) in 2025 and 900,000 bpd in 2026. US West Texas Intermediate WTI ended 3.3% lower and is lower currently. Brent lost 2.7% to $71.83 a barrel on Monday.