Stocks mixed after Wall Street retreat - 27.9.2023

The Dollar strengthening has paused 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, added 0.2% on Tuesday as new US home sales dropped in August more than forecast.

Both EUR/USD and GBP/USD continued their sliding yesterday. Both euro and Pound are lower against the dollar currently. USD/JPY slowed its advancing on Tuesday while AUD/USD accelerated its sliding with the yen little changed against the Greenback currently and Australian dollar lower still.

Futures on three main US stock indexes are higher currently as the yield on benchmark 10-year US notes has edged down to 4.524% currently. Stock indexes ended lower again on Tuesday with three main stock benchmarks recording daily losses in the range from -1.6% to -1.1% as Conference Board reported bigger than expected drop in US consumer confidence.

European stock indexes are mixed currently after a mixed session on Tuesday with tech stocks leading losses. Asian indexes futures are mostly up today with Japan’s Nikkei leading gains while data showed that Chinese industrial profits rebounded sharply in August and People’s Bank of China said it will step up measures to increase private investment in the country.

Brent is up above $90 currently. Oil prices rebounded on Tuesday ahead of American Petroleum Institute data US crude oil stockpiles rose last week by about 1.6 million barrels. The Energy Information Administration will release its US inventory data at 16:30 CET today. The US oil benchmark West Texas Intermediate (WTI) rose 0.8% and is higher today. Brent gained 0.7% to $93.96 a barrel.