US stock futures point to mixed openings

Dollar falls ahead of Federal meeting minutes

US markets were closed on Wednesday for Independence Day holiday. The S&P 500 futures rose 0.3% to 2722 in a holiday shortened session. The Dow Jones industrial futures added 0.3% to 24277. Nasdaq composite index futures gained 0.4% to 7050.75.The dollar weakening slowed: 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, slipped 0.1% to 94.51 and is lower currently. Stock index futures point to mixed openings today.

Today the minutes of the June Federal Reserve meeting will be published at 20:00 CET, traders don’t expect to see signs of leaning toward less aggressive tightening on part of policy makers as some analysts suggested recent trade war concerns may warrant. There were no economic releases yesterday.

European stocks rebound continues

European stocks extended gains on Wednesday in thin trading with US financial markets closed for the Independence Day holiday. EUR/USD declined while British Pound continued rising and both are higher currently. The Stoxx Europe 600 rose less than 0.1%. Germany’s DAX 30 lost 0.3% to 12317.61. France’s CAC 40 gained less than 0.1% and UK’s FTSE 100 fell 0.3% to 7573.09. Indices opened mixed today.

German coalition negotiations are still in focus as leaders from the Social Democrats (SPD) are said to be considering whether to support a deal for tighter control over immigration agreed by German Chancellor Angela Merkel and her Interior Minister Horst Seehofer. In economic news the final reading on Markit’s composite PMI in the euro-zone in June came in at 54.9. The flash PMI figure was 54.8. Readings above 50 indicate expansion in business activity.

China says will retaliate in kind

Asian stock indices are mixed today as traders await the July 6 deadline for US tariffs on $34 billion worth of imports to take effect, and Beijing has promised to retaliate in kind. Nikkei ended 0.8% lower at 21546.99 despite the yen slide against the dollar. China’s stocks are falling: the Shanghai Composite Index is 0.9% lower and Hong Kong’s Hang Seng Index is down 0.4%. However Australia’s All Ordinaries Index is up 0.5% with Australian dollar little changed against the greenback.

Brent falls on Trump tweet

Brent futures prices are retreating today after US President Donald Trump’s tweet demanding that OPEC cut prices for crude oil. Prices ended higher yesterday: September Brent crude rose 0.6% to $78.24 a barrel on Wednesday.