Stocks mixed after mixed US inflation data - 12.1.2024

The Dollar weakening continues 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 0.1% lower on Thursday despite Department of Labor data showing the number of Americans filing new claims for unemployment benefits rose less than expected last week while their number fell.

GBP/USD continued its climbing while EUR/USD ended little changed on Thursday. Both euro and Pound are higher against the dollar currently. Both USD/JPY and AUD/USD reversed their advancing yesterday with both the yen and the Australian dollar higher against the Greenback currently.

US stock indexes futures are mixed currently as the yield on benchmark 10-year Treasury notes edged down to 3.973%. The three main stock benchmarks ended mixed on Thursday in a narrow range of -0.07% to 0.04% while Department of Labor’s consumer price index data showed US inflation grew slightly more than expected in December.

European stock indexes are up currently after closing lower on Thursday led by bank shares. Asian stock indexes futures are mixed today with Hong Kong’s Hang Seng index leading losses as data showed Chinese consumer prices disinflation continued in December.

Brent is extending gains currently after US and British forces launched airstrikes against the Iran-backed Houthi group in Yemen. The international oil benchmark rose yesterday after Iran seized an oil tanker off the coast of Oman with Iraqi crude destined for Turkey in retaliation for the confiscation last year of the same vessel and its oil by the US. West Texas Intermediate (WTI) rose 0.9% and is higher currently. Brent futures added 0.8% to $77.41 a barrel on Thursday.