Stocks mixed after Wall Street rally - 6.5.2024

Senior Analytical Expert

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Todays’ Market Summary

The Dollar strengthening has resumed
US stocks indexes futures are higher currently
Brent is retracing up currently.
Gold prices are rising currently

Top daily news

Global equity indexes are pointing in different directions currently after US stocks rallied on Friday following a weak nonfarm payrolls report. Google parent Alphabet’s stock price added 0.31% underperforming market, Tesla stock edged up 0.06% on Friday amid reports Tesla shares are more expensive than those of Nvidia, Microsoft.

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Forex news

Currency Pair	Change
EUR USD	-0.3%
GBP USD	+0.3%
USD JPY	+0.1%
AUD USD	+0.8%

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 0.3% lower on Friday.

Both GBP/USD and EUR/USD accelerated their climbing on Friday. Pound is higher against the Dollar currently while euro is lower. USD/JPY accelerated its sliding while AUD/USD accelerated its advancing on Friday with the yen lower against the Greenback currently and the Australian dollar higher still.

Stock Market news

Indices	Change
Dow Jones Index	+0.2%
GB 100 Index	+0.5%
Hang Seng Index	-0.1%
Australian Stock Index	+0.3%

US stocks indexes futures are higher currently after ending solidly higher on Friday. The three main US stock benchmarks recorded daily gains in the range from 1.2% to 2.0% after the Bureau of Labor Statistics report US economy added 175,000 jobs in April, significantly less than expected.

European stock futures are mixed today after closing higher on Friday. Asian stock indexes futures are mixed today with Australia’s ASX 200 index leading gains while Japanese markets were closed for a holiday.

Commodity Market news

Commodities	Change
Brent Crude Oil	+0.3%
WTI Crude	+0.3%

Brent is retracing up currently. Prices ended lower on Friday while energy services firm Baker Hughes reported the total count of active US oil and gas rigs was cut the second week in a row to the lowest since January 2022. US West Texas Intermediate WTI fell 1.06% but is higher currently. Brent lost 0.85% to $82.96 a barrel on Friday. For the week, Brent declined more than 7%, while WTI fell 6.8%.