Global equities down while SP500 booked new record after Fed's minutes - 8.7.2021

Top daily news

Stocks are retreating currently after SP 500 and Nasdaq finished at new records Wednesday while Fed’s minutes revealed central bank says it needs to be ready to pull back on its massive bond-buying program as inflation had outpaced expectations. Google shares added 0.23% despite news 36 states and the District of Columbia have filed a lawsuit against Google’s Play store alleging Google’s claims that its Android software is an open operating system that allows consumers more choices is a sham, Tesla shares fell 2.26% Wednesday underperforming market.

Forex news

Currency Pair Change
EUR USD -0.74%
GBP USD -0.2%
USD JPY -0.62%

The Dollar strengthening has halted currently ahead of the US Labor Department report at 14:30 CET expected to show 345 thousand Americans sought unemployment benefits over the last week, down from 364 thousand the previous week. 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.

Both EUR/USD and GBP/USD continued sliding on Wednesday after Destatis report German industrial production continued to contract at steady rate 0.3% over month in May. Euro is higher against the Dollar currently while Pound is lower still. AUD/USD continued its sliding on Wednesday while USD/JPY continued its climbing with Australian dollar lower against the Greenback currently but yen higher.

Stock Market news

Indices Change
Dow Jones Index -1.13%
Nikkei Index -0.92%
Hang Seng Index -2.79%
Australian Stock Index -0.98%

The US stock index futures are down currently with the 10-year US Treasuries yields down at 1.306%. The three main US stock indexes booked gains ranging from 0.01% to 0.34% Wednesday with the Fed minutes not providing clues on when the central bank plans to start tapering bond purchases.

European stock indexes are retreating currently after ending higher Wednesday with basic resources shares leading gains. The European Central Bank will publish results of its strategy review later today and President Christine Lagarde is due to speak at a news conference. Asian stock indexes are down today with Hong Kong’s Hang Seng Index leading losses with tech shares under pressure from sweeping Chinese regulatory scrutiny.

Commodity Market news

Commodities Change
Brent Crude Oil -1.43%
WTI Crude -1.65%

Brent is edging lower currently after Organization of the Petroleum Exporting Countries and its allies, an alliance known as OPEC+, failed to agree on extending its deal on cutting oil supply beyond April 2022. Prices ended lower Wednesday despite American Petroleum Institute report US oil inventories fell by 8 million barrels last week. The Energy Information Administration report on US crude stockpile is due today at 17:00 CET, delayed a day due to the Independence Day holiday. The US oil benchmark West Texas Intermediate (WTI) futures fell 1.6% and is lower currently. September Brent crude lost 1.5% to $73.43 a barrel on Wednesday.

Gold Market News

Metals Change
Gold +0.14%

Gold prices are edging higher today. August gold gained 0.4% to $1802.10 an ounce on Wednesday, the fifth straight gain and first settlement above $1,800 in about three weeks.