Equities rise while Chinese stocks lag behind
|Todays’ market summary
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The Dollar weakening has resumed.
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Futures on US equity benchmarks are up.
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Brent is edging up today.
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Gold prices are extending gains today.
Top daily news
Equity indexes are mostly rising with Chinese stocks defying the general trend while Wall Street ended essentially flat on Friday. Apple shares gained 0.17% amid reports the company sees India as the alternative to China for production of iPhone,Ipad, MacBook because of its big population and low costs, Tesla shares fell 6.42% on Friday underperforming market while a major Tesla investor called for $15 billion stock buyback.
Forex news
| Currency Pair | Change |
| EUR USD | +0.39% |
| GBP USD | +0.58% |
| USD JPY | -0.12% |
| AUD USD | +0.73% |
The Dollar weakening has resumed 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, added 0.1% on Friday.
EUR/USD reversed its climbing Friday while GBP/USD continued advancing while federal statistical office Destatis data showed German producer prices soared 33.5% year on year in April, a new record. Both Pound and euro are higher against the Dollar currently. AUD/USD reversed its climbing while USD/JPY reversed its retreating Friday with both the Australian dollar and yen higher against the Greenback currently.
Stock market news
| Indices | Change |
| Dow Jones Index | +0.17% |
| Nikkei Index | +0.89% |
| Hang Seng Index | -1.18% |
| Australian Stock Index | +0.38% |
Futures on US equity benchmarks are up currently after US stocks ended marginally higher on Friday. The three main US stock benchmarks recorded daily returns ranging from -0.3% to +0.03% with SP 500 down about 19% from its January high.
European stock indexes are higher currently after ending higher on Friday led by travel and leisure shares. Asian indexes are rising today led by Japanese Nikkei while Chinese shares are retreating led by tech shares.
Commodity market news
| Commodities | Change |
| Brent Crude Oil | +0.74% |
| WTI Crude | +0.68% |
Brent is edging up today. Russia's Gazprom on Saturday halted gas exports to neighboring Finland over payments dispute. Oil prices ended higher on Friday as the oil services company Baker Hughes reported US oil and natural gas rigs count rose for a ninth week in a row. The rig count is an indicator of future output growth. West Texas Intermediate (WTI) futures rose 0.9% and is higher currently. Brent crude gained 0.5% to $112.55 a barrel on Friday.
Gold market news
| Metals | Change |
| Gold | +0.45% |
Gold prices are extending gains today. Prices ended higher on Friday: spot gold added 0.26% to $1845.60 an ounce.
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