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Markets Update: Wall Street stocks turn around, European shares fall. Chinese stocks decline as the Central Economic Work Conference doesn't impress. Dollar index remains unchanged, Euro increases.
Global Markets Roundup: 13 December 2024
FESX1! | Z1! | NI225 | NQ1! | ES1! | EURUSD | USDJPY | DXY | GOLD | CL1! | ZC1! | ZS1! HG1!
MSCI's global equity index declined on Friday, while the dollar index remained mostly unchanged after five days of gains, as investors awaited insights on the future direction of interest rates from next week's U.S. Federal Reserve meeting. In U.S. Treasuries, benchmark 10-year U.S. Treasury yields climbed to a two-and-a-half week high and were set for their fifth consecutive increase. Investors are anticipating that Federal Reserve chair Jerome Powell will indicate a pause in policy easing following an expected 25-basis-point rate cut next Wednesday. The Fed is dealing with inflation that remains persistently above its 2% annual target. Data released on Thursday revealed higher-than-expected U.S. producer prices in November. Friday's data indicated that U.S. import prices barely increased in November, as rises in food and fuel costs were partially offset by decreases in other areas, due to a strong dollar.
At 11:26 a.m. EST (1626 GMT), the Dow Jones Industrial Average DJIÂ dropped 3.07 points, or 0.01%, to 43,908.44. The S&P 500 SPXÂ decreased by 8.97 points, or 0.15%, to 6,042.32, and the Nasdaq Composite IXICÂ declined by 59.91 points, or 0.30%, to 19,842.92. MSCI's global stock index EURONEXT:IACWI fell by 3.25 points, or 0.37%, to 865.23, while Europe's STOXX 600 SXXPÂ index decreased by 0.62%. Earlier, both China's blue-chip stocks 3399300Â and Hong Kong's Hang Seng HSIÂ dropped more than 2% after the Central Economic Work Conference did not provide details on new stimulus measures.
In the foreign exchange markets, The dollar index DXY, which evaluates the greenback against a selection of currencies including the yen and the euro, increased by 0.03% to 106.99. The euro EURUSDÂ rose 0.27% to $1.0495. The dollar gained 0.67% against the Japanese yen USDJPY, reaching 153.64 for the day, as it has been climbing all week with traders reducing expectations for a rate hike from the Bank of Japan next week. Sources indicated that the BOJ is inclined to maintain steady rates. EURUSDÂ | USDJPY | AUDUSD | DXY | NZDUSD
In commodities, oil prices increased and were on track for their first weekly gain since late November, as additional sanctions on Russia heightened concerns about supply, despite a surplus outlook affecting the markets. U.S. crude CL1! increased by 1.1% to $70.80 a barrel, while Brent BRN1! rose to $74.03 per barrel, up 0.83% on the day. In the precious metals sector, gold declined after reaching a more than five-week high in the previous session, although prices were set for a weekly increase on expectations of a Fed rate cut next week. Spot gold GOLD decreased by 0.82% to $2,659.45 an ounce. U.S. gold futures (GCc1) dropped 0.96% to $2,661.70 an ounce. BRN1! | CL1! | GOLD | HG1! | KC1! | RC1! | CC1! | LEI
Looking forward refer to the economic calendar below to see the upcoming events scheduled for today and the rest of the week.
General news - Information source from multiple newswires.
The article and the data is for general information use only, not advice!
The Trade Academy Team