Stocks edge up after Nvidia disappointed - 29.8.2024

The Dollar strengthening 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, rose 0.3% on Wednesday.

Both EUR/USD and GBP/USD reversed their climbing yesterday while the European Central Bank reported annual growth rate of adjusted loans to non-financial corporations slowed in July. Both Pound and euro are higher against the dollar currently. USD/JPY reversed its sliding while AUD/USD reversed its climbing on Wednesday with the yen lower against the Greenback currently and the Australian dollar higher.

The US stock index futures are mixed currently ahead of unemployment claims and GDP second reading report due at 16:30 CET today. US stocks closed lower on Wednesday with the three main US stock benchmarks recording daily losses in a range from -1.1% to -0.4% while Fed Atlanta President Raphael Bostic said it may be "time to move" on rate cuts, but he wanted to see confirmation from the jobs reports and two inflation reports before the September meeting.

European stock indexes futures are higher currently after closing up on Wednesday led by chemicals shares. Asian stock indexes futures are mostly rising today with Hong Kong’s Hang Seng Index leading gains while two top Republican lawmakers yesterday asked the US Defense Department to add Chinese battery maker CATL to a restricted list of companies allegedly working with Beijing's military.

Brent is edging down presently. Prices ended 1% lower yesterday after the US Energy Information Administration (EIA) report US crude oil stocks fell by below-expected 846 thousand barrels last week. The US oil benchmark West Texas Intermediate (WTI) futures fell 1.3% and are lower currently. Brent crude lost 1.13% to $78.65 a barrel on Wednesday.