Global stocks rise after SP500 edges to record - 8.4.2021

The Dollar weakening has resumed currently ahead of the US Labor Department report at 13:30 CET expected to show 682 thousand Americans sought unemployment benefits over the last week, down from 719 thousand the previous week. 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 0.1% Wednesday despite Bureau of Economic Analysis report US trade deficit rose to $71.1 billion in February from $67.8 billion a month earlier.

EUR/USD joined GBP/USD’s continued sliding yesterday despite Markit report final euro zone composite purchasing manager’s index came in at 53.2, up from 48.8 in February and above the 52.5 flash estimate. Both euro and Pound are higher against the Dollar currently. AUD/USD reversed its climbing while USD/JPY reversed its sliding Wednesday with the dynamics reversed for both currently.

The US stock futures are up currently after ending mixed on Wednesday as Fed minutes showed most policy makers viewed inflation as stable. SP 500 edged to a record as Treasury Secretary Janet Yellen campaigned for a global minimum corporate tax that would align other major economies with the Biden's administration plan to increase business taxes to finance the broad $2 trillion plan to spend on roads, railways, broadband, clean energy and semiconductor manufacture. The three main US stock indexes booked returns ranging from -0.07% to 0.15%.

European stock indexes are higher currently after a mixed session Wednesday with health care stocks leading losses. Asian stock indexes are rising today with Hong Kong’s Hang Seng Index leading gains.