Stocks track Wall Street rally - 16.8.2024

The Dollar strengthening has reversed 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 0.4% higher on Thursday.

EUR/USD reversed is climbing yesterday while GBP/USD reversed its sliding as the Office for National Statistics reported UK inflation rose back above the Bank of England’s 2% target. Both euro and Pound are higher against the dollar currently. USD/JPY accelerated its advancing while AUD/USD reversed its sliding on Thursday with both the yen and Australian dollar higher against the Greenback currently.

US stock index futures are higher currently with the yield on benchmark 10-year Treasury notes down at 3.904%. The three main stock benchmarks rallied on Thursday recording daily gains in a range from 1.4% to 2.3% as better than expected July retail sales data spurred optimism that the US economy is not headed for a recession.

European indexes futures are mixed today after stock indexes closed higher on Thursday while technology shares led gainers. Asian stock indexes futures are rising today with Hong Kong’s Hang Seng leading gains buoyed by surge in JD.com and Alibaba Group.

Brent is steady currently. Prices ended over $1 higher on Thursday after strong US retail sales report. West Texas Intermediate (WTI) futures rose 1.53% and are lower currently. Brent futures gained 1.6% to $81.04 a barrel on Thursday.