Stocks mixed after Wall Street ventured up - 2.7.2024

The Dollar strengthening has resumed 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 0.02% lower on Monday.

Both EUR/USD and GBP/USD ended higher on Monday while German consumer price index on an EU-harmonized basis declined to 2.5% from 2.8% in May. Both Pound and euro are lower against the dollar currently. USD/JPY accelerated its climbing yesterday while AUD/USD reversed its advancing with both the yen and Australian dollar lower against the Greenback currently.

Futures on three main US stock indexes are down currently with the yield on benchmark 10-year Treasury down at 4.441% ahead of Fed chair Powell’s speech at a European Central Bank event at 17:30 CET today. US markets ended up on Monday as the three main stock benchmarks recorded daily gains in a range from 0.1% to 0.8% while Manufacturing PMI data from the Institute for Supply Management showed US manufacturing contracted for a third straight month in June.

European stock indexes futures are lower currently after indexes closed higher on Monday following the results of the first round of France’s snap parliamentary election. Asian indexes futures are mixed today with Japan’s Nikkei index leading gains.

Brent is extending gains currently. Oil prices ended nearly 2% higher yesterday on hopes of rising demand during the summer driving season. US West Texas Intermediate WTI ended 2.3% higher and is up currently. Brent rose 1.9% to $86.60 a barrel on Monday.