Stocks advance after US stocks rose again - 16.9.2024

The Dollar weakening 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 0.1% lower on Friday.

Both EUR/USD and GBP/USD slowed their climbing on Friday while Eurostat reported euro area industrial production fell less than expected in July. Both Pound and euro are higher against the Dollar currently. AUD/USD joined USD/JPY’s accelerated sliding on Friday with both the yen and Australian dollar higher against the Greenback currently.

US stock indexes futures are up currently after ending higher on Friday. The three main US stock benchmarks recorded daily gains in the range from 0.5% to 0.7% after the University of Michigan preliminary data showed US consumer inflation expectations continued declining in September.

European stock futures are mixed after closing up on Friday led by retail and auto shares. Asian stock indexes futures are mixed today in thin trading as markets in China and Japan were closed for holidays with Hong Kong’s Hang Seng index leading gains while data from China over the weekend disappointed as industrial output growth slowed to a five-month low in August, while retail sales and new home prices weakened further.

Brent is edging down currently. Prices ended lower on Friday as US Gulf of Mexico crude production resumed following Hurricane Francine. At the same time energy services group Baker Hughes reported active US oil and gas rig count rose by eight in the week to September 13 to 590, returning to mid-June levels. US West Texas Intermediate WTI added 0.5% but is lower currently. Brent rose 0.5% to $71.61 a barrel on Friday.