Stocks rise ahead of Nvidia earnings - 23.8.2023

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, rose 0.4% on Tuesday.

Both GBP/USD and EUR/USD reversed their climbing yesterday while data from the Confederation of British Industry survey showed British manufacturing output dropped by the most since September 2020 in the three months to August. Both euro and Pound are higher against the dollar currently. USD/JPY reversed its climbing Tuesday while AUD/USD continued its advancing with both the yen and Australian dollar higher against the Greenback currently.

Futures on three main US stock indexes are up currently as the yield on benchmark 10-year US notes has edged down to 4.308% currently. Stock indexes ended mixed on Tuesday with three main stock benchmarks recording daily returns in the range from -0.51% to 0.06% as bank shares dipped after S&P Global Ratings downgraded five regional US banks by one notch and signaled a negative outlook for several others on Monday.

European stock indexes are rising currently after a bullish session on Tuesday with technology shares leading gains. Asian indexes futures are advancing today with Hong Kong’s Hang Seng index leading gains as Baidu shares rallied after the Chinese search engine reported much stronger second quarter earnings.

Brent is retreating currently. Oil prices fell on Tuesday before American Petroleum Institute report late Tuesday US crude stocks declined by about 2.4 million barrels last week while gasoline slid 0.153 million barrels. The Energy Information Administration will release its US inventory data at 16:30 CET today. The US oil benchmark West Texas Intermediate (WTI) fell 0.6% and is lower today. Brent lost 0.5% to $84.03 a barrel.