Equities mixed after Wall Street rebound as markets shrug off inflation data - 11.6.2021

IFC Markets

Master Trader
Oct 31, 2012
London (Great Britain)

Top daily news​

Stocks are mixed currently after SP500 closed at a new record on Thursday as investors weren’t impressed by highest inflation since 2008. Facebook shares lost 1 % after Mark Zuckerberg announced Wednesday that the company will allow all full-time employees to work from home if their jobs can be done remotely, Amazon shares gained 0.5% Thursday despite news European Union privacy regulator has proposed a fine of more than $425 million against Amazon under the bloc’s privacy law.

Forex news​

Currency PairChange
EUR USD+0.1%
GBP USD-0.21%
USD JPY-0.06%
AUD USD+0.4%

The Dollar weakening is intact 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, slid 0.1% Thursday after US Labor Department report 376 thousand Americans sought unemployment benefits over the last week, down from 385 thousand the previous week.

GBP/USD reversed its sliding Thursday while EUR/USD reversed its climbing as the European Central Bank chose not to signal when it might start reducing its bond purchasing program as it left ultra-low interest rates unchanged. Both euro and Pound have reversed their dynamics against the Dollar currently. USD/JPY reversed its climbing while AUD/USD reversed its sliding yesterday with both yen and Australian dollar higher against the Greenback currently.

Stock Market news​

Dow Jones Index-0.09%
Nikkei Index-0.03%
Hang Seng Index+0.5%
Australian Stock Index+0.18%

Futures on three main US stock indexes are down currently ahead of University of Michigan preliminary Consumer Sentiment report at 16:00 CET today after a bullish session yesterday following inflation data showing US consumer price index posted its biggest year-over-year increase since August 2008 at 5%. The three main US stock benchmarks recorded daily gains in the range of 0.06% to 0.78% Thursday as Treasury yields declined further after stronger than expected inflation data.

European stock indexes are higher currently after closing mixed Thursday with travel shares leading losses. Asian indexes are mostly advancing today with Hang Seng leading gains while Shanghai Composite leads losses as China's auto sales fell 3% in May, the first drop in 14 months.

Commodity Market news​

Brent Crude Oil+0.34%
WTI Crude+0.39%

Brent is gaining today. . Oil prices ended higher yesterday on stronger demand expectations following US labor market report new unemployment claims fell last week to their lowest since the country's first wave of COVID-19 last year. The US oil benchmark West Texas Intermediate (WTI) futures rose 0.5% and is up currently. August Brent crude gained 0.4% to $72.52 a barrel on Thursday.

Gold Market News​


Gold prices are edging up today . August gold inched up 0.1% settling at $1,896.40 an ounce on Thursday, gaining for two sessions in a row.