Stocks rebound tracking Wall Street advance - 17.10.2023

The Dollar strengthening has resumed 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, ended 0.3% lower on Monday.

Both EUR/USD and GBP/USD reversed their sliding on Monday while the federal statistics office Destatis reported wholesale prices increase in Germany continued at steady 0.2% rate over month in September. Both euro and Pound are lower against the dollar currently. Both USD/JPY and AUD/USD reversed their sliding yesterday with the yen lower against the Greenback currently and Australian dollar higher still.

Futures on three main US stock indexes are down currently with the yield on benchmark 10-year Treasury up at 4.748%. US markets closed higher again on Monday with the three main stock benchmarks recording daily gains in the range from 0.9% to 1.2% as Federal Reserve Bank of New York survey results indicated business activity edged lower in New York State in October.

European stock indexes futures are rising currently after closing higher on Monday with retail shares leading gains. Asian indexes futures are rising today with Hong Kong’s Hang Seng index leading gains led by technology stocks.

Brent is little changed currently. Prices ended over $1 lower on Monday amid reports US has reached a preliminary deal to ease sanctions on Venezuela's oil industry in return for a competitive, monitored presidential election in Venezuela next year. US West Texas Intermediate WTI slipped 1.2% and is little changed currently. Brent lost 1.4% to $89.65 a barrel on Monday.