No single trend in equities markets on rising US tax worries
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Global equities are mixed currently after Wall Street pullback Thursday following reports President Biden will propose a historic tax increase on investment gains for the rich. Amazon shares lost 1.58% while the company reported it is bringing a palm-scanning payment system to Whole Foods stores in the US, Tesla shares fell 3.28% on Thursday underperforming market.
Forex news
| Currency Pair | Change |
| EUR USD | +0.32% |
| GBP USD | +0.32% |
| USD JPY | -0.05% |
| AUD USD | +0.15% |
The Dollar strengthening has stalled 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 0.2% Thursday as US Labor Department reported 547 thousand Americans sought unemployment benefits over the last week, down from 586 thousand the previous week.
EUR/USD joined GBP/USD’s continued sliding Thursday as the European Central Bank decided to leave policy on hold despite its prediction of a strong rebound in the eurozone economy from mid-year as COVID-19 infections are brought under control. Both pairs are higher currently. AUD/USD joined USD/JPY’s continued sliding with both yen and Australian dollar higher against the Greenback currently.
Stock market news
| Indices | Change |
| Dow Jones Index | +0.21% |
| GB 100 Index | +0.43% |
| Nikkei Index | -0.35% |
| Hang Seng Index | +0.91% |
Futures on three main US stock indexes are mixed currently ahead of Markit’s flash manufacturing PMI report at 15:45 CET today after a bearish session yesterday on reports details of president Biden’s tax proposal including nearly doubling taxes on capital gains to 39.6% for people earning more than $1 million will be released next week before Biden’s address to Congress on Wednesday. The three main US stock benchmarks recorded similar daily losses of 0.9% each.
European stock indexes are higher today after closing higher Thursday led by utilities shares. Asian indexes are mostly up today with Hang Seng leading gainers.
Commodity market news
| Commodities | Change |
| Brent Crude Oil | +0.05% |
| WTI Crude | +0.44% |
Brent is edging higher today. . Oil prices ended marginally higher yesterday amid reports Libya’s oil production fell to about 1 million barrels per day in recent days and could drop further due to budgetary issues. The US oil benchmark West Texas Intermediate (WTI) futures added 0.1% and is higher currently. June Brent crude tacked 0.1% to $65.40 a barrel on Thursday.
Gold market news
| Metals | Change |
| Gold | -0.04% |
Gold prices are extending losses today . June gold lost 0.6% settling at $1,782 an ounce on Thursday – first loss in three sessions.
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