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Stocks mixed after Powell’s dovish Jackson Hole address - 26.8.2024
Todays’ Market Summary
- The Dollar weakening has halted
- US stock indexes futures are up currently
- Gold prices are extending gains currently
Top daily news
Global equity indexes are trading in opposite directions currently after Federal Reserve Chair Powell said the time had come to start easing policy and US stocks extended gains on Friday. Nvidia stock rallied 4.55% outperforming market, Apple stock rose 1.0% on Friday as billionaire hedge fund manager Daniel Loeb wrote "AI-related demand could drive a step change improvement in Apple's revenue and earnings over the next few years."
Forex news
The Dollar weakening has halted 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, ended 0.5% lower on Friday.
Both EUR/USD and GBP/USD reversed sliding on Friday while GfK reported UK consumers felt no less pessimistic in August. Both Pound and euro are lower against the Dollar currently. USD/JPY reversed its advancing on Friday while AUD/USD reversed its sliding with the yen higher against the Greenback currently and Australian dollar lower.
Stock Market news
US stock indexes futures are up currently after ending solidly higher on Friday. The three main US stock benchmarks recorded daily gains in the range from 1.1% to 1.5% after Jerome Powell signaled support for cutting interest rates and unwillingness to see further weakening in the labor market.
European stock futures are mixed after closing up on Friday. Asian stock indexes futures are mixed today with Hong Kong’s Hang Seng index leading gains.
Commodity Market news
| Brent Crude Oil | --- | --- | --- |
| Cotton | --- | --- | --- |
Brent is extending gains currently after Israel and Hezbollah traded rocket salvos and air strikes on Sunday. Prices ended over 2% higher on Friday. US West Texas Intermediate WTI rose 2.49% and is higher currently. Brent gained 2.33% to $79.02 a barrel on Friday.
Gold Market News
| Gold USD | --- | --- | --- |
Gold prices are extending gains currently. Prices retraced up on Friday: spot gold surged 1.1% to $2512.49 an ounce.
Crypto
| Bitcoin | --- | --- | --- |
| Ethereum - Dollar USA | --- | --- | --- |
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