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Markets mixed after Wall Street retreat - 25.5.2023

Markets mixed after Wall Street retreat
Ara Zohrabian
Ara Zohrabian
Senior Analytical Expert
Articles:633

Todays’ Market Summary

  • The Dollar strengthening is intact
  • The US stock index futures are mixed currently
  • Brent is edging down presently.
  • Gold prices are retracing up

Top daily news

Global stocks are trading mixed currently after Wall Street extended losses on Wednesday. Apple shares added 0.16% outperforming the market following a multibillion-dollar deal announcement previous day with Broadcom to develop 5G radio frequency components in the US, Meta’s shares rose 1% on Wednesday.

Forex news

Currency PairChange
EUR/USD -0.3%
GBP/USD -0.2%
USD/JPY -0.01%
AUD/USD -0.2%

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, added 0.4% Wednesday.

Both GBP/USD and EUR/USD continued their retreating on Wednesday while UK inflation dropped less than forecast in April. Both euro and Pound are lower against the Dollar currently. USD/JPY resumed its advancing yesterday whileAUD/USD accelerated its sliding with the Australian dollar lower against the Greenback currently and the yen little changed.

Stock Market news

IndicesChange
DJIA -0.2%
Japan 225 +0.5%
Hang Seng -1.7%
Australia 200 -0.6%

The US stock index futures are mixed currently ahead of unemployment claims report at 14:30 CET today. The three main US stock indexes ended lower again on Wednesday recording daily losses in the narrow range from 0.6% to 0.77% as minutes from the Fed's May 2-3 meeting showed that Fed officials "generally agreed" that the need for further interest rate increases "had become less certain."

European stock indexes futures are lower currently after indexes closed down yesterday with auto shares leading losses. Asian stock indexes futures are mostly lower today with Hong Kong’s Hang Seng Index leading losses while chipmaking stocks were buoyed by better than expected Nvidia Corporation results.

Commodity Market news

CommoditiesChange
Brent -0.5%
Light Weight Crude Oil -0.5%

Brent is edging down presently. Prices ended higher yesterday after Energy Information Administration report US crude inventories plunged unexpectedly by 12.5 million barrels last week while gasoline inventories fell by 2.1 million barrels. Prices drew support also from Saudi Arabia's energy minister’s comment short-sellers betting oil prices will fall should "watch out" for pain. The US oil benchmark West Texas Intermediate (WTI) futures surged 2% but is lower currently. Brent crude rose 2% to $78.36 a barrel on Wednesday.

Gold Market News

MetalsChange
Gold vs. USD +0.1%

Gold prices are retracing up today. Spot gold ended down 0.89% at $1957.08 an ounce on Wednesday.

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