Markets mixed ahead of Wall Street reopening - 20.2.2024

Senior Analytical Expert

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Todays’ Market Summary

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

Top daily news

Global stocks are trading mixed currently ahead of US markets reopening after a Presidents' Day holiday yesterday. Meta shares slumped 2.2% underperforming market, Apple shares slid 0.8% on Monday while TipRanks indicated a group of 25 Wall Street analysis is cautiously bullish on the price of Apple stock for the next 12 months, rating it as a ‘moderate buy’ on the basis of 16 votes for a ‘buy,’ eight experts recommending to ‘hold,’ and only one ‘sell’ call.

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Forex news

Currency Pair	Change
EURUSD	-0.01%
GBPUSD	-0.1%
USDJPY	+0.3%
AUDUSD	-0.2%

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 0.1% lower on Monday.

EUR/USD ended marginally higher while GBP/USD slid on Monday while Rightmove reported UK home sellers increased their asking prices for a second month in February. Both Pound and euro are lower against the dollar currently. USD/JPY reversed its climbing and AUD/USD slowed its advancing yesterday with both the yen and Australian dollar lower against the Greenback currently.

Stock Market news

Indices	Change
DJI	-0.3%
NIKKEI	-0.1%
HK50	+0.6%
AU200	-0.03%

Futures on three main US stock indexes are down currently with the yield on benchmark 10-year Treasury up at 4.299%. US markets were closed on Monday for a national holiday with the three main stock benchmarks recording daily returns in the range from -0.8% to -0.4% on Friday as data showed US wholesale prices increased more than anticipated in January.

European stock indexes futures are lower currently after closing marginally higher on Monday led by health care shares. Asian indexes futures are mixed today with Hong Kong’s Hang Seng index leading gains as the People’s Bank of China cut its 5-year loan prime rate, which is used to determine mortgage rates, by a bigger than expected 25 basis points to 3.95% .

Commodity Market news

Commodities	Change
#C-BRENT	+0.07%
OIL	+0.1%

Brent is edging up currently. Prices ended mixed yesterday in thin trading due to the Presidents' Day holiday in the US while Brent futures settled earlier than usual because of the holiday. US West Texas Intermediate WTI for April delivery slumped 0.1% but is higher currently. Brent added 0.1% to $83.56 a barrel on Monday.