Stocks rally still alive after mixed Wall Street session - 28.5.2021

Senior Analyst

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Todays’ Market Summary

The Dollar strengthening has resumed today
Futures on three main US stock indexes are up
is edging lower today
Gold prices are extending losses today

Top daily news

Equities are advancing currently after Wall Street ended mixed on Thursday. Apple shares lost 1.24% amid reports IT giant is looking for people with experience in digital wallets, fast payments, cryptocurrency and BNPL (buy now pay later) programs, Facebook shares gained 1.55% Thursday.

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Forex news

The Dollar strengthening has resumed today . 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 0.04% Thursday despite US Labor Department report 406 thousand Americans sought unemployment benefits over the last week, down from 444 thousand the previous week.

EUR/USD ended flat Thursday while GBP/USD’s reversed its retreating with both euro and Pound down against the Dollar currently. AUD/USD’s continued sliding yesterday while USD/JPY continued climbing with both yen and Australian dollar lower against the Greenback currently.

Stock Market news

Futures on three main US stock indexes are up currently ahead of Bureau of Economic Analysis Personal Consumption Expenditures report at 14:30 CET today after a mixed session yesterday despite an upbeat weekly jobless claims report. The three main US stock benchmarks recorded daily returns in the range of -0.01% to 1.3% Thursday with industrial shares lading gains.

European stock indexes are up currently after closing higher Thursday with basic resources shares leading gains despite GfK report showing consumer confidence improved by less than expected in May. Asian indexes are mostly up today with Nikkei leading gains.

Commodity Market news

Brent is edging lower today. Oil prices ended higher yesterday boosted by report the number of Americans filing new claims for unemployment benefits dropped to a new pandemic low. The US oil benchmark West Texas Intermediate (WTI) futures rose 1% but is down currently. June Brent crude added 0.9% to $66.85 a barrel on Thursday.