Markets mostly down after Wall Street selloff overnight

Dmitry Lukashov IFC Markets

Top daily news

Global equities are mostly down currently after US stocks ended solidly down on Wednesday following strong US inflation data. Amazon shares fell 2.23% amid news several top Chinese sellers which contributed over a billion dollars in gross merchandise value to Amazon disappeared from Amazon over the past few days, Tesla shares fell 4.42% Wednesday while Musk tweeted that Tesla has suspended the use of bitcoin to purchase its vehicles – causing over 10% slide in Bitcoin.

Forex news

Currency Pair	Change
EUR USD	+0.75%
GBP USD	+0.08%
USD JPY	-0.06%
AUD USD	+0.51%

The Dollar strengthening has halted currently ahead of the US Labor Department report at 14:30 CET expected to show 487 thousand Americans sought unemployment benefits over the last week, down from 498 thousand the previous week. 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, jumped 0.7% Wednesday as the Bureau of Labor Statistics reported the core consumer prices index (CPI), which excludes volatile food and energy items, grew at 3% over the year in April, far above the central bank's average annual 2% inflation growth target.

Both EUR/USD and GBP/USD reversed their climbing on Wednesday as Eurostat reported industrial output in the euro-zone in March expanded just 0.1% over a month instead of the expected 0.8%. Euro is on the rise against the Dollar currently while the Pound is flat. USD/JPY reversed its sliding Wednesday while AUD/USD reversed its climbing with both yen and Australian dollar higher against the Greenback currently.

Stock market news

Indices	Change
Dow Jones Index	+0.71%
Nikkei Index	-2.6%
Hang Seng Index	-0.68%
Australian Stock Index	-0.89%

The US stock futures are up currently with the 10-year US Treasuries yield at 1.685% ahead of 30-year US Treasuries auction today at 19:01 CET. The three main US stock indexes booked losses ranging from 2.0% to 2.7% Wednesday led by consumer discretionary shares spurred by concerns over whether interest rate hikes from the Federal Reserve could happen sooner than anticipated.

European stock indexes are lower currently after ending higher Wednesday with oil and gas shares leading gains as the European Commission estimate projected the EU economy will expand by 4.2% in 2021 and by 4.4% in 2022. Asian stock indexes are mostly rising today with Nikkei leading losses amid reports Japan’s service sector confidence fell at the sharpest pace in a year in April.

Commodity market news

Commodities	Change
Brent Crude Oil	-0.97%
WTI Crude	-1.25%

Brent is edging lower currently. Prices advanced Wednesday despite Energy Information Administration reported US crude stocks fell by much smaller than expected 0.4 million barrels last week. The US oil benchmark West Texas Intermediate (WTI) futures rose 1.2% but is higher currently. June Brent crude added 1.1% to $69.32 a barrel on Wednesday.

Gold market news

Metals	Change
Gold	+0.09%

Gold prices are edging up today. June gold slid 0.7% to $1822.80 an ounce on Wednesday, first back-to-back decline in May after jump in US inflation boosted bond yields and dollar.

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Author

Dmitry Lukashov

IFC Markets

Dimtry Lukashov is the senior analyst of IFC Markets. He started his professional career in the financial market as a trader interested in stocks and obligations.

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