Todays’ Market Summary
The Dollar weakening is intact currently
The US stock index futures are rising currently
Brent is down currently after reports United States has asked some of the world’s largest oil consuming nations including China, India and Japan to consider releasing crude stockpiles.
Gold prices are edging higher
Top daily news
Stock index futures are pointing in different directions currently after US stocks retreated Wednesday following reports showing building permits rose but housing starts fell in October. Amazon shares added 0.23% while the company announced it would stop taking payments from Visa credit cards issued in the UK, citing the high cost imposed by the card company, Apple shares gained 1.65% Wednesday outperforming market as the tech giant said it will start selling parts so that customers can fix their own iPhones or Macs.
The Dollar weakening 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, lost 0.1% Wednesday as Census Bureau reported housing starts fell more than expected while building permits grew stronger than forecast.
GBP/USD accelerated its climbing on Wednesday while EUR/USD continued sliding as UK consumer price index (CPI) inflation came in at an annual 4.2% in October, its highest for almost a decade. Both pairs are higher currently. USD/JPY joined AUD/USD’s continued declining Wednesday with both the Australian dollar and yen higher against the Greenback currently.
Stock Market news
|Dow Jones Index||+0.07%|
|Hang Seng Index||-1.5%|
|Australian Stock Index||+0.3%|
The US stock index futures are rising currently after all three major indices ended lower Wednesday despite good earnings reports from retailers. The three main US stock indexes booked losses ranging from 0.3% to 0.6%.
European stock indexes are mixed currently after ending mixed Wednesday as the European Central Bank warned of overvaluations in property and financial markets. Asian stock indexes are mostly falling today with Hang Seng leading losses dragged by tech stocks.
Commodity Market news
|Brent Crude Oil||-0.63%|
Brent is down currently after reports United States has asked some of the world’s largest oil consuming nations including China, India and Japan to consider releasing crude stockpiles. Prices ended down Wednesday despite the US Energy Information Administration report domestic crude stockpile fell unexpectedly by 2.1 million barrels last week. The US oil benchmark West Texas Intermediate (WTI) futures dropped 3% and is lower currently. Brent crude declined 1.7% to $81.05 a barrel on Wednesday.
Gold Market News
Gold prices are edging higher currently. December gold climbed 0.9% to $1870.20 an ounce on Wednesday, the highest close since June.