Stocks mixed after US stocks end at records - 8.11.2024

The Dollar strengthening has resumed today. 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 0.8% lower on Thursday.

Both EUR/USD and GBP/USD reversed their retreating yesterday while the the Bandk of England cut interest rates by 25 basis points to 4.75%. Both Pound and euro are lower against the dollar currently. USD/JPY reversed its advancing on Thursday while AUD/USD reversed its retreating with the yen little changed against the Greenback currently and Australian dollar lower.

US stock index futures are up currently ahead of University of Michigan Consumer Sentiment preliminary report at 19:00 CET today with the yield on benchmark 10-year Treasury notes down at 4.33%. The three main stock benchmarks ended mostly higher on Thursday recording daily returns in a range from 0.0% to 1.5% with tech shares leading gains after the Federal Reserve cut interest rates while Fed chairman Jerome Powel kept the door open to further interest rate cuts.

European indexes futures are mixed today after stock indexes closed higher with mining shares leading gains. Asian stock indexes futures are mixed today with Hong Kong’s Hang Seng leading losses after Trump vowed to impose a 60% tariff on all Chinese imports.

Brent is edging lower currently as the likelihood that hurricane Rafael in the Gulf of Mexico will significantly affect US oil and gas output declined. Prices ended higher on Thursday. West Texas Intermediate (WTI) futures rose 1.48% but are lower currently. Brent futures added 1.4% to $75.97 a barrel on Thursday.