Stocks rise after Wall Street retreat - 15.4.2024

The Dollar strengthening has halted 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 0.7% higher on Friday.

GBP/USD joined EUR/USD’s accelerated retreating on Friday while the Office for National Statistics reported UK economic output increased by 0.1% in monthly terms in February, in line with expectations. Both euro and Pound are higher against the Dollar currently. USD/JPY slowed its advancing while AUD/USD reversed its climbing on Friday with the yen lower against the Greenback currently and the Australian dollar higher.

US stocks indexes futures are higher currently after ending sharply lower on Friday. The three main US stock benchmarks recorded daily losses in the range from -1.6% to -1.2% while University of Michigan preliminary data showed consumer sentiment declined more than expected for April.

European stock futures are up today after closing marginally higher on Friday with mining shares leading gains. Asian stock indexes futures are rising today with Hong Kong’s Hang Seng index leading gains amid reports state funds were buying shares of heavyweight Chinese banks.

Brent is retreating currently. Prices rose around 1% on Friday on geopolitical tensions in the Middle East. Meanwhile energy services firm Baker Hughes reported US energy firms cut the number of active oil and gas rigs fourth week in a row - by three to 617 in the week to April 12. US West Texas Intermediate WTI rose 0.75% but is lower currently. Brent added 0.79% to $90.45 a barrel on Friday. For the week, Brent declined 0.8%, while WTI fell more than 1%.