Top daily news
Stock markets are mostly advancing currently following a technology selloff on Monday while US Treasury yields and commodity prices continue advancing. Tesla shares extended losses prompted by price cuts last Wednesday on certain models of its Model 3 and Model Y vehicles - shares dropped 8.6%, Disney stocks closed up 4.4%.
The Dollar weakening is intact currently ahead of Federal Reserve chair Powell’s semi-annual testimony before the Senate Banking Committee today scheduled for 16:00 CET. 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, shed 0.3% Monday.
Both EUR/USD and GBP/USD accelerated climbing Monday as the Ifo Institute reported Germany’s business sentiment improved in February. Both euro and Pound are higher currently against the Dollar. AUD/USD slowed its rising as USD/JPY speeded up its sliding yesterday with Australian dollar little changed against the greenback currently while yen is gaining.
Stock Market news
|Dow Jones Index||+0.32%|
|GB 100 Index||+0.07%|
|Hang Seng Index||+1.67%|
|Australian Stock Index||+0.72%|
Futures on three main US stock indexes are higher currently ahead of the Conference Board Consumer Confidence report today due at 16:00 CET. The three US main stock benchmarks ended mixed Monday recording returns ranging from -2.5% to +0.1% with losses led by technology shares.
European stock indexes are rising currently after ending lower yesterday led by tech stocks. Asian indexes are mixed today with Hong Kong’s Heng Seng Index leading the gains with Tokyo markets closed for holidays.
Commodity Market news
|Brent Crude Oil||+1.37%|
Brent is extending gains today ahead of data from the American Petroleum Institute later today. Prices closed sharply higher Monday supported by supply concerns amid expectations of slow return of US crude output after last week’s cold snap in Texas shut in production. US production could take at least two weeks to fully restart normal output The US oil benchmark West Texas Intermediate (WTI) jumped 3.8%. Brent crude gained 3.7% to $65.24 a barrel on Monday.
Gold Market News
Gold prices are extending gains today . April gold rose 1.7% to $1808.40 an ounce on Monday.