Stocks mixed after Wall Street slump - 18.9.2023

The Dollar strengthening has halted 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 0.7% higher on Friday.

EUR/USD reversed its retreating on Friday while GBP/USD slowed its sliding as Eurostat reported euro area trade surplus declined in July when an increase was expected. Both euro and Pound are little change against the Dollar currently. USD/JPY accelerated its advancing on Friday while AUD/USD reversed its climbing with both the yen and the Australian dollar higher against the Greenback currently.

US stocks indexes futures are up currently after closing solidly lower on Friday. The three main US stock benchmarks recorded daily losses in the range from -1.56% to -0.88% on Friday as the University of Michigan reported US consumer sentiment declined in September.

European stock indexes futures are mixed currently after closing marginally higher on Friday led by household goods stocks. Asian stock indexes futures are mostly lower today with Hong Kong’s Hang Seng index leading losses as China Evergrande shares tumbled almost 20% following its announcement on delaying decisions on debt restructuring while Australia’s ASX 200 index is defying regional trend.

Brent is extending gains currently. Oil prices ended at ten-month high on Friday supported by hopes of Chinese demand rebound after better than expected industrial output and retail sales data in China. The energy services firm Baker Hughes reported the total count of active US oil rigs rose by two oil rig to 515, the most since April. The US oil benchmark West Texas Intermediate (WTI) rose 0.7% and is higher currently. Brent gained 0.3% to $93.93 a barrel on Friday. Brent and WTI gained about 4% for the week.