Stocks falter as Evergrande uncertainty remains a drag
Todays’ market summary
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The Dollar strengthening has halted currently.
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Futures on US equity benchmarks are up currently.
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Brent is extending gains currently.
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Gold prices are edging up.
Top daily news
Equities are mixed currently with yields on US 10-year Treasury notes hovering around 1.446% while China Evergrande uncertainty weighs on market sentiment as the developer missed a payment on offshore bonds last week. Wall Street closed mixed Friday. Tesla shares jumped 2.75% as Musk said Friday that the ongoing semiconductor crisis will be over by next year, Apple shares added 0.06% underperforming market.
Forex news
| Currency Pair | Change |
| EUR USD | -0.3% |
| GBP USD | +0.18% |
| USD JPY | +0.05% |
| AUD USD | +0.27% |
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, added 0.3% on Friday after US Census Bureau report new home sales beat market expectations for August.
Both EUR/USD and GBP/USD reversed their climbing Friday as the IFO Institute reported German business sentiment declined for the third consecutive month in September. Euro is lower against the Dollar currently while Pound is higher. USD/JPY continued its climbing Friday while AUD/USD reversed its advancing with the Australian dollar higher against the Greenback currently and yen lower.
Stock market news
| Indices | Change |
| Dow Jones Index | +0.18% |
| Nikkei Index | -0.03% |
| Hang Seng Index | -0.37% |
| Australian Stock Index | +0.12% |
Futures on US equity benchmarks are up currently ahead of durable goods orders report due at 14:30 CET today. The Wall Street ended mixed Friday as investors watched for progress on President Joe Biden's spending and budget bills: the three main US stock benchmarks recorded daily returns ranging from --0.3% to +0.15%.
European stock indexes are up currently after ending lower on Friday ahead of German federal elections on Sunday. Germany's center-left Social Democrats narrowly won their first national election since 2005 and are expected to start the process of trying to form a government after they ended 16 years of conservative-led rule under Angela Merkel. Asian indexes are mixed today with Shanghai Composite leading losses while China’s central bank added more liquidity to the financial system.
Commodity market news
| Commodities | Change |
| Brent Crude Oil | +0.09% |
| WTI Crude | +0.9% |
Brent is extending gains currently. Prices rose on Friday amid concerns over supply tightness in the United States amid reports some members of the Organization of the Petroleum Exporting Countries and their allies, known as OPEC+, face difficulties in raising output due to under-investment or maintenance delays during the pandemic. West Texas Intermediate (WTI) futures added 0.9% and is higher currently. Brent crude rose 1.1% to $78.09 a barrel on Friday.
Gold market news
| Metals | Change |
| Gold | +0.32% |
Gold prices are edging up today. December gold slipped 0.1% settling at $1751.70 an ounce on Friday – logging an 0.02% gain for the week.
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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.
