Equities down after US stocks rose again - 26.11.2024

Senior Analytical Expert

Articles:915

Todays’ Market Summary

The Dollar strengthening has resumed
Futures on three main US stock indexes are declining
Brent is edging higher currently.
Gold prices are edging lower currently

Top daily news

Global equity indexes are trading mostly lower currently after US stocks ended higher third session in a row on Monday. Tesla stock slumped 3.96% while Tesla China on Sunday announced a 10,000 yuan ($1,381) discount on the Model Y rear-wheel drive and long-range all-wheel drive variants, Meta shares rose 1.1% on Monday outperforming market while Raymond James reaffirmed its Strong Buy rating on shares of Meta Platforms Inc., maintaining a $675.00 price target citing social network giant’s potential for growth in artificial intelligence (AI) and generative AI monetization by 2025.

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Forex news

Currency Pair	Change
EUR/USD	-0.1%
GBP/USD	-0.1%
USD/JPY	-0.1%
AUD/USD	-0.2%

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 0.1% lower on Monday.

Both EUR/USD and GBP/USD reversed their retreating yesterday while the ifo Institute reported German business sentiment fell more than expected in November. Pound and euro are lower against the dollar currently. USD/JPY reversed its advancing while AUD/USD reversed its sliding on Monday with the yen little changed against the Greenback currently and Australian dollar lower.

Stock Market news

Indices	Change
DJI	-0.1%
NIKKEI	-1.4%
HK50	-0.5%
AU200	-1%

Futures on three main US stock indexes are declining currently with the yield on benchmark 10-year Treasury up at 4.285%. US markets ended higher on Monday as the three main stock benchmarks recorded daily gains in a range from 0.27% to 1.0% after fund manager Scott Bessent’s nomination by president-elect Donald Trump to lead the US Treasury Department helped push bond yields lower.

European stock indexes futures are down currently after indexes closed up on Monday with household goods and mining shares leading gains. Asian indexes futures are retreating today with Japan’s Nikkei leading losses weighed by losses in power and auto shares.

Commodity Market news

Commodities	Change
#C-BRENT	-0.1%
OIL	-0.1%

Brent is edging higher currently. Oil prices ended more than 2% lower yesterday on reports that Israel and Lebanon had agreed to the terms of a deal to end the Israel-Hezbollah conflict. US West Texas Intermediate WTI ended 3.2% lower but is higher currently. Brent lost 2.87% to $73.01 a barrel on Monday.