Todays’ Market Summary
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The Dollar weakening is intact
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Futures on US equity benchmarks are up
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Brent is edging up today as European Union countries’ energy ministers prepare to discuss options for how they could jointly curb gas demand.
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Gold prices are edging up today
Top daily news
Equity indexes are pointing up currently after US stocks ended the week solidly higher on Friday. Microsoft shares rose 3.42% outperforming market, Apple shares gained 2.45% as the IT giant confirmed Apple employees can use their company benefits to travel out-of-state for reproductive care.
Forex news
| Currency Pair | Change |
|---|---|
| EUR USD | +0.24% |
| GBP USD | +0.37% |
| USD JPY | -0.15% |
| AUD USD | -0.02% |
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 0.3% on Friday.
Both EUR/USD and GBP/USD reversed their sliding Friday despite data showing sentiment in German business deteriorated more than expected in June. Both Pound and euro are higher against the Dollar currently. Both USD/JPY and AUD/USD reversed their sliding Friday with the yen higher against the Greenback currently and Australian dollar lower.
Stock Market news
Dow Jones Index
| Indices | Change |
|---|---|
| +0.86% | |
| Nikkei Index | +0.8% |
| Hang Seng Index | +2.26% |
| Australian Stock Index | +0.68% |
Futures on US equity benchmarks are up currently after US stocks rallied on Friday despite the University of Michigan’s consumer sentiment index falling to the lowest level in its 45-year history. The three main US stock benchmarks recorded daily gains ranging from 2.7% to 3.3% with SP500 tacking almost 6.5% for the week, its best performance in 2022.
European stock indexes are advancing currently after ending higher on Friday led by tech shares. Asian indexes are up today led by Hong Kong’s Hang Seng Index.
Commodity Market news
| Commodities | Change |
|---|---|
| Brent Crude Oil | +1.15% |
| WTI Crude | +0.75% |
Brent is edging up today as European Union countries’ energy ministers prepare to discuss options for how they could jointly curb gas demand. Oil prices ended higher on Friday despite energy services firm Baker Hughes report US energy firms added oil and natural gas rigs last week for a second week in a row. West Texas Intermediate (WTI) futures jumped 3.2% and is higher currently. Brent crude rose 2.8% to $113.12 a barrel on Friday.
Gold Market News
| Metals | Change |
|---|---|
| Gold | +0.13% |
Gold prices are edging up today amid news Group of Seven nations will announce a ban on imports of Russian gold on Tuesday. Prices ended higher on Friday: spot gold added 0.18% to $1826.10 an ounce.