Equities advance after back-to-back Wall Street gains - 29.8.2023

Senior Analyst

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Todays’ Market Summary

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

Top daily news

Global equities are pointing up currently led by Chinese stocks after Wall Street extended gains on Monday. Nvidia’s shares rose 1.78% outperforming market, Microsoft shares added 0.22% on Monday as Oppenheimer says Windowns is positioned to become the “operating system for AI.”

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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 0.2% on Monday.

Both GBP/USD and EUR/USD reversed their sliding on Monday. Both euro and Pound are higher against the dollar currently. AUD/USD joined USD/JPY’s slowed 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 down currently with the yield on benchmark 10-year Treasury notes at 4.19%. US stocks ended higher again on Monday, with three main stock benchmarks recording daily gains in the range from 0.6% to 0.8%.

European stock indexes futures are higher currently after closing up on Monday while markets were closed in the UK for a public holiday. Asian indexes futures are rising mostly today with Japan’s Nikkei index defying regional trend as 10-year Japanese bond yields ticked down to 0.65%.

Commodity Market news

Brent is rebounding currently. Prices ended mixed on Monday. US West Texas Intermediate WTI added 0.3% but is lower currently. Brent slipped six cents to $84.42 a barrel on Monday.