Markets rebound after another mixed Wall Street session - 22.8.2023

Senior Analyst

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Todays’ Market Summary

The Dollar weakening continues
Futures on three main US stock indexes are up
Gold prices are edging higher currently

Top daily news

Global equities are pointing up currently led by Chinese stocks after Wall Street ended mixed on Monday. Nvidia’s shares jumped 8.47% outperforming market as HSBC raised its price target on the stock, Tesla shares rose 7.33% on Monday amid reports Tesla recently expanded installations of V4 Superchargering dispensers to at least two additional countries - the United Kingdom and Norway.

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Forex news

The Dollar weakening 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, slipped 0.1% on Monday.

GBP/USD joined EUR/USD’s accelerated climbing on Monday as Germany’s central bank said the German inflation rate is likely to stay above 2% for longer. Both euro and Pound are higher against the dollar currently. USD/JPY joined AUD/USD’s accelerated advancing yesterday with both the yen and Australian dollar higher against the Greenback currently.

Stock Market news

Futures on three main US stock indexes are up currently with the yield on benchmark 10-year Treasury notes at 4.342%. US stocks ended mixed again on Monday, with three main stock benchmarks recording daily returns in the range from -0.11% to 1.56% as Nvidia led tech stocks higher.

European stock indexes futures are higher currently after closing up on Monday with auto stocks leading gains. Asian indexes futures are rising today with Hong Kong’s Hang Seng index leading gains with 10-year Japanese bond yields hitting their highest since 2014 at 0.669%.

Commodity Market news

Brent is extending losses currently. Prices fell on Monday. US West Texas Intermediate WTI lost 0.65% and is lower currently. Brent fell 0.4% to $84.46 a barrel on Monday.