Markets advance after US stocks rebounded - 29.10.2024

Senior Analytical Expert

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Todays’ Market Summary

The Dollar strengthening is intact
Futures on three main US stock indexes are higher
Brent is extending losses currently.
Gold prices are retracing up currently

Top daily news

Global equity indexes are mostly trading higher currently after US stocks closed up on Monday. Nvidia shares slid 0.72% underperforming market, Alphabet shares added 0.81% on Monday as the Google parent company is set to report its third-quarter earnings after the market closes today.

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Forex news

Currency Pair	Change
EURUSD	+0.1%
GBPUSD	+0.1%
USDJPY	-0.1%
AUDUSD	-0.2%

The Dollar strengthening 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 0.08% higher on Monday.

Both GBP/USD and EUR/USD reversed their sliding on Monday while the Confederation of British Industry reported UK retail sales dipped in lead up to autumn budget. Pound and euro are higher against the dollar currently. USD/JPY accelerated its advancing yesterday while AUD/USD slowed its sliding with the yen flat against the Greenback currently and Australian dollar lower.

Stock Market news

Indices	Change
DJI	+0.01%
NIKKEI	+1.1%
HK50	-0.2%
AU200	-0.1%

Futures on three main US stock indexes are higher currently with the yield on benchmark 10-year Treasury down at 4.274%. Alphabet, AMD and McDonald’s will report quarterly results today. US markets ended up on Monday as the three main stock benchmarks recorded daily gains in a range from 0.23% to 0.65% with Industrial conglomerate 3M leading gains after JP Morgan hiked its price target on the company's shares.

European stock indexes futures are rising currently after indexes closed higher on Monday with construction and materials shares leading gains. Asian indexes futures are mostly up today with Japan’s Nikkei leading gains.

Commodity Market news

Commodities	Change
#C-BRENT	-0.2%
OIL	-0.3%

Brent is extending losses currently. Oil prices ended over 6% lower yesterday after Tehran gave a measured response to Israel’s attack on Iran at the weekend that avoided oil and nuclear facilities strikes. US West Texas Intermediate WTI ended 6.1% lower and is lower currently. Brent lost 6.1% to $71.42 a barrel on Monday.