Stocks Surge After Strong Meta, Microsoft Reports

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Todays’ Market Summary

  • The Dollar strengthening has stalled
  • The US stock index futures are surging currently
  • Brent is edging lower presently.
  • Gold prices are retracing higher


Top daily news

Equity indexes are trading higher currently after strong Meta, Microsoft earnings reports. Wall Street finished mixed on Wednesday after the Federal Reserve kept interest rates unchanged. Microsoft shares added 0.18% but surged 8.28% in after-hours trading after the tech giant reported better than expected fourth-quarter results, Meta shares slid 0.68% on Wednesday underperforming market before rallying 11.49% in extended trading as the social networks leader reported blowout second-quarter results and guidance.


Forex news

Currency Pair Change
EUR USD +0.1%
GBP USD +0.1%
USD JPY +0.1%
AUD USD +0.2%

The Dollar strengthening has stalled today. 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, ended 1.3% higher on Wednesday as Federal Reserve held interest rates steady as widely expected.

Both GBP/USD and EUR/USD accelerated their retreating yesterday as federal statistics agency Destatis reported the German gross domestic product fell by 0.1% in the second quarter compared with the first quarter, in line with expectations. Both euro and Pound are higher currently. USD/JPY accelerated its advancing and AUD/USD accelerated its sliding on Wednesday with the yen lower against the Greenback currently and the Australian dollar higher.


Stock Market news

Indices Change
Dow Jones Index +0.5%
Nikkei Index +1.2%
Hang Seng Index -0.7%
Australian Stock Index +0.2%

The US stock index futures are surging currently ahead of unemployment claims and personal consumption expenditures reports at 14:30 CET. US stocks closed mixed on Wednesday with the three main US stock benchmarks recording daily returns in the range from -0.38% to 0.15% while economic data showed the US economy returned to 3 per cent expansion in the second quarter after a contraction in the first quarter. Fed chair Powell said that the central bank was “well positioned to wait” before moving further on rates while “we’re beginning to see some effects” of tariffs on inflation.

European stock indexes are up currently after indexes closed marginally higher yesterday. Asian stock indexes futures are mostly rising with Hong Kong’s Hang Seng Index defying the trend after president Trump said the US would charge a 15% tariff on imports from South Korea while South Korea agreed to invest $350 billion in the US.


Commodity Market news

Commodities Change
Brent Crude Oil -0.2%
WTI Crude -0.2%


Brent is edging lower presently. Prices slowed advancing on Wednesday as the US Energy Information Administration (EIA) reported US gasoline stocks fell by above-expected 2.7 million barrels last week while US crude inventories rose unexpectedly by 7.7 million barrels. The US oil benchmark West Texas Intermediate (WTI) futures rose 1.1% but are lower currently. Brent crude gained 1.1% to $72.47 a barrel on Wednesday erasing losses of nearly 1% earlier in the day .


Gold Market News

Metals Change
XAUUSD +0.2%

Gold prices are retracing higher presently. Spot gold resumed its retreating on Wednesday: it slumped 1.5% to $3275.29 an ounce.


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Markets Venture Up After Wall Street Ended Mixed

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