Equities rise despite Fed chair Powell’s hawkish comments - 17.4.2024

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Todays’ Market Summary

The Dollar strengthening has halted currently
Futures on three main US stock indexes are up
Brent is edging lower currently.
Gold prices are edging up currently

Top daily news

Global equity indexes are pointing mostly up currently after Wall Street ended mixed on Tuesday as Powell said reining in inflation could take “longer than expected”. Microsoft shares added 0.23% while the tech giant said it has made a $1.5 billion investment in United Arab Emirates-based AI firm G42, Apple stock lost 1.29% on Tuesday underperforming market after Needham lowered estimates for the tech giant to reflect iPhone sales concerns and weakness in China.

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Forex news

Coppia di Valute	Cambiamento
EUR USD	+0.2%
GBP USD	+0.3%
USD JPY	-0.1%
AUD/USD	+0.4%

The Dollar strengthening has halted 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, added 0.2% on Tuesday.

GBP/USD joined EUR/USD’s continued retreating yesterday while federal statistics office Destatis reported German wholesale prices continued falling at 3% annual rate in March. Both euro and Pound are higher against the dollar currently. USD/JPY slowed its advancing on Tuesday while AUD/USD accelerated its sliding with both the yen and Australian dollar higher against the Greenback currently.

Stock Market news

Indici	Cambiamento
Dow Jones	+0.4%
Nikkei 225	-1.1%
Hang Seng	+0.3%
Indice Azionario Australiano	+0.5%

Futures on three main US stock indexes are up currently with the yield on benchmark 10-year US notes up at 4.661%. Stock indexes ended mixed on Tuesday with three main stock benchmarks recording daily returns in a range from -0.2 to 0.2% while data showed US industrial production increased in March as expected whereas building permits and housing starts lagged behind estimates.

European stock indexes are higher currently after closing lower on Tuesday with mining stocks leading losses. Asian indexes futures are mixed today with Japan’s Nikkei leading losses despite data showing Japan’s exports grew for a fourth consecutive month on weak yen.

Commodity Market news

Materie Prime	Cambiamento
Petrolio Brent	-0.2%
Petrolio WTI	-0.2%

Brent is edging lower currently. Prices slid yesterday before the American Petroleum Institute (API) report showing US crude stockpiles rose by above expected 4.1 million barrels last week. The Energy Information Administration (EIA) will release its US inventory data at 16:30 CET today. The US oil benchmark West Texas Intermediate (WTI) slipped 0.1% and is lower today. Brent lost 0.1% to $90.02 a barrel on Tuesday.