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Stocks subdued after Wall Street bounce - 16.5.2023


Todays’ Market Summary
- The Dollar strengthening is intact
- Futures on three main US stock indexes are mixed
- Brent is retreating currently.
- Gold prices are edging lower currently
Top daily news
Global stocks are trading mostly down currently after Wall Street ended higher on Monday. Microsoft’s shares added 0.16% outperforming market while European Union regulators approved Microsoft’s proposed $69 billion acquisition of gaming firm Activision Blizzard, subject to remedies offered by the US tech giant, Alphabet shares slid 0.8% on Monday as Loop Capital Markets downgraded shares of the Google parent company to hold from buy, citing AI threat to Google as “users interact more with AI assistants to find information.”
Forex news
Currency Pair | Change |
EUR/USD | -0.2% |
GBP/USD | -0.1% |
USD/JPY | -0.2% |
AUD/USD | -0.1% |
The Dollar strengthening is intact 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, slid 0.26% on Monday.
Both GBP/USD and EUR/USD reversed their sliding on Monday while Eurostat reported industrial production fell more than expected in March in euro area. Both euro and Pound are lower against the dollar currently. USD/JPY accelerated its advancing yesterday while AUD/USD reversed its sliding with the yen higher against the Greenback currently and Australian dollar lower.
Stock Market news
Indices | Change |
DJIA | +0.1% |
Hang Seng | -1.1% |
Australia 200 | -0.3% |
Futures on three main US stock indexes are mixed currently with the yield on benchmark 10-year Treasury notes down at 3.483%. US stocks closed up on Monday, with three main stock benchmarks recording daily gains in the narrow range from 0.14% to 0.66% while New York Federal Reserve's "Empire State" index, a gauge of manufacturing activity in New York State on current business conditions, fell to a reading of -31.8 in May, against expectations of -3.75 and several Fed officials indicated they expect interest rates to stay high.
European stock indexes futures are mixed currently after closing in a flat to higher range on Monday led by mining shares. Asian indexes futures are mostly lower today with Hong Kong’s Hang Seng index leading losses against the background of Chinese data showing industrial production and retail sales missed expectations for April..
Commodity Market news
Commodities | Change |
Brent | -0.07% |
Light Weight Crude Oil | -0.06% |
Brent is retreating currently. Prices ended higher on Monday on supply concerns as Alberta declared a state of emergency over the weekend in response to wildfires that shut at least 300,000 barrels of oil equivalent per day production last week in Alberta, about 3.2% of Canada's output. US West Texas Intermediate WTI gained 1.5% but is lower currently. Brent rose 1.4% to $75.23 a barrel on Monday.
Gold Market News
Metals | Change |
Gold vs. USD | -0.3% |
Gold prices are edging lower currently . Spot gold added 0.24% to $2015.73 an ounce on Monday.
See Also

