Stocks rise buoyed by tech rebound - 26.6.2024

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, ended 0.1% higher on Tuesday.

EUR/USD reversed its advancing while GBP/USD ended flat yesterday. Both euro and Pound are lower against the dollar currently. USD/JPY resumed its climbing on Tuesday while AUD/USD reversed its advancing with the yen lower still against the Greenback currently and Australian dollar higher after consumer price index inflation data came in hotter than expected for May.

Futures on three main US stock indexes are up currently with the yield on benchmark 10-year US notes up at 4.263%. Stock indexes ended mixed on Tuesday with three main stock benchmarks recording daily returns in a range from -0.8% to 1.3% while consumer confidence data showed that consumers have become slightly less optimistic about the state of the United States economy.

European stock indexes are rising currently after closing lower on Tuesday with industrial stocks leading losses. Asian indexes futures are mostly rising today with Australia’s All Ordinaries ASX 200 Index defying the trend as higher inflation spurred expectations that the Reserve Bank of Australia could potentially hike interest rates in August.

Brent is retracing higher currently. Prices ended around 1% lower yesterday before American Petroleum Institute report US crude stocks rose 914,000 barrels in the week ended June 21. The Energy Information Administration (EIA) will release its US inventory data at 16:30 CET today. The US oil benchmark West Texas Intermediate (WTI) fell 1% but is higher currently. Brent lost 1.2% to $85.01 a barrel on Tuesday.