Stocks down after rebound following Fed minutes - 26.5.2022

Senior Analyst

Articles:1078

Todays’ Market Summary

The Dollar strengthening has halted
The US stock index futures are down currently
Gold prices are edging down

Top daily news

Global stocks are retreating currently as Wall Street closed up on Wednesday following Fed minutes publication. Apple shares added 0.11% underperforming market amid reports the company will raise the starting pay for its US employees to $22 per hour or higher based upon the market, a 45% jump from 2018 levels, Amazon shares rose 2.57% on Thursday.

Open Account Try Free Demo

Forex news

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, added 0.2% Wednesday.

EUR/USD reversed its advancing Wednesday while GBP/USD reversed its sliding as the flash purchasing managers’ index (PMI) reading for the euro zone in May showed business growth slowed. Both Pound is lower against the Dollar currently while euro is little changed. Both AUD/USD reversed their climbing yesterday and USD/JPY reversed its sliding with the Australian dollar lower against the Greenback currently and yen higher.

Stock Market news

The US stock index futures are down currently ahead of Bureau of Labor Statistics report on unemployment claims due today at 14:30 CET. The three main US stock indexes booked gains ranging from 0.6% to 1.6% Wednesday despite durable goods orders data showing the growth in manufacturing of big-ticket goods slowed more than forecast in April.

European stock indexes are mixed currently after ending higher Wednesday led by oil and gas shares. Asian stock indexes are falling today with Hong Kong’s Hang Seng Index leading losses.

Commodity Market news

Brent is extending gains currently. Prices advanced yesterday amid US Energy Information Administration report domestic crude stocks fell by 1 million barrels last week while US refiners boosted processing capacity use to 93.2%, its highest since December 2019. The US oil benchmark West Texas Intermediate (WTI) futures rose 0.5% and is higher currently. Brent crude added 0.4% to $114.03 a barrel on Wednesday.