Equities mixed after Wall Street rebounded following weak jobs report - 4.11.2024

The Dollar strengthening has reversed 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 0.4% higher on Friday.

EUR/USD reversed its climbing on Friday and GBP/USD reversed its sliding despite S&P Global report UK manufacturing sector contracted in October. Both Pound and euro are higher against the Dollar currently. USD/JPY reversed its sliding on Friday while AUD/USD reversed its advancing with both the yen and Australian dollar higher against the Greenback currently.

US stock indexes futures are mixed currently after ending mixed on Friday. The three main US stock benchmarks recorded daily returns in the range from 04% to 0.8% as nonfarm payrolls data showed US economy added just 12 thousand new jobs in October, much smaller than analysts forecast.

European stock futures are lower after closing up on Friday led by bank shares. Asian stock indexes futures are mixed today in thin trading as Japan’s markets are closed for a holiday with Hong Kong’s Hang Seng index leading gains while the National People’s Congress’ Standing Committee began a four-day meeting where the body is widely expected to outline more fiscal spending.

Brent is up currently after OPEC+, which includes the Organization of the Petroleum Exporting Countries plus Russia and other allies, said on Sunday it would extend its output cut of 2.2 million barrels per day for another month in December, with an increase already delayed from October because of falling prices and weak demand. Prices ended up on Friday on reports Iran was preparing a retaliatory strike on Israel from Iraq. US West Texas Intermediate WTI rose 0.3% and is higher currently. Brent gained 0.4% to $73.10 a barrel on Friday. For the week, Brent settled 4% lower, while WTI lost 3%.