Stocks mixed while US markets rose - 19.1.2024

The Dollar strengthening has halted today. 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 0.1% higher on Thursday despite Department of Labor data showing the number of Americans filing new claims for unemployment benefits fell last week when an increase was expected.

GBP/USD continued its climbing while EUR/USD ended lower on Thursday as Royal Institution of Chartered Surveyors report indicated house prices continued to fall in UK. Euro is higher against the dollar currently while Pound is lower. Both USD/JPY ended flat yesterday and AUD/USD reversed its sliding with the yen lower against the Greenback currently and the Australian dollar higher still.

US stock indexes futures are up currently as the yield on benchmark 10-year Treasury notes edged up to 4.161%. The three main stock benchmarks ended higher on Thursday in a range of 0.6% to 1.4% as Atlanta Fed president Raphael Bostic said he expected the US central Bank to cut interest rates in the third quarter – and maybe even earlier than that.

European stock indexes are higher currently after closing up on Thursday led by travel shares. Asian stock indexes futures are mixed today with Australia’s All Ordinaries index leading gains buoyed by tech stocks after Taiwan Semiconductor Manufacturing Corp, the world’s largest contract chipmaker forecast issued positive guidance as it posted smaller than expected decline in its fourth-quarter earnings.

Brent is extending gains currently. Prices rose yesterday as US Energy Information Administration reported a larger than expected draw in crude inventories of 2.5 million barrels in the week ended January 12. West Texas Intermediate (WTI) rallied 2% and is higher currently. Brent futures added 1.6% to $79.10 a barrel on Thursday.