Equities down after Dow posted a record close - 12.11.2024

Senior Analytical Expert

Articles:906

Todays’ Market Summary

The Dollar strengthening continues
Futures on three main US stock indexes are lower
Brent is edging lower currently.
Gold prices are edging lower currently

Top daily news

Global equity indexes are mostly trading lower currently after US stocks continued the rally on Monday as the Dow Jones Industrial Average notched a record high close. Tesla’s stock market value surged to $1.1 trillion with shares rallying 8.96% as Wedbush raised its price target by $100, calling the Trump victory a "gamechanger" for the EV maker , Nvidia shares lost 1.61% on Monday underperforming market.

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Forex news

Currency Pair	Change
EUR USD	-0.4%
GBP USD	-0.5%
USD JPY	+0.1%
AUD USD	-0.3%

The Dollar strengthening continues 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 0.5% higher on Monday.

Both EUR/USD and GBP/USD slowed their retreating on Monday. Pound and euro are lower against the dollar currently. USD/JPY joined AUD/USD’s slowed sliding yesterday with both the yen and Australian dollar lower against the Greenback currently.

Stock Market news

Indices	Change
Dow Jones Index	-0.1%
Nikkei Index	-0.4%
Hang Seng Index	-2.1%
Australian Stock Index	-0.4%

Futures on three main US stock indexes are lower currently with the yield on benchmark 10-year Treasury up at 4.326%. US markets ended higher on Monday as the three main stock benchmarks recorded daily gains in a range from 0.06% to 0.69% led by bank shares.

European stock indexes futures are retreating currently after indexes closed higher on Monday with construction and materials shares leading gains. Asian indexes futures are falling today with Hong Kong’s Hang Seng index leading losses as China’s 10-trillion-yuan ($1.4-trillion) debt package unveiled on Friday failed to deliver the direct spending aimed at consumers that investors have been expecting.

Commodity Market news

Commodities	Change
Brent Crude Oil	-0.1%
WTI Crude	-0.1%

Brent is edging lower currently. Oil prices ended more than 2% lower yesterday on concerns over slowing global demand and expected rise in supply. The concerns were spurred by weak Chinese inflation data pointing that China’s economy, world’s top importer of crude oil, is slowing. At the same time Bank of America Securities note projected that non-OPEC crude supply will grow by 1.4 million barrels per day (bpd) in 2025 and 900,000 bpd in 2026. US West Texas Intermediate WTI ended 3.3% lower and is lower currently. Brent lost 2.7% to $71.83 a barrel on Monday.