Stocks advance after Wall Street dip - 28.11.2024

The Dollar weakening has reversed 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, lost 0.79% on Wednesday.

Both EUR/USD and GBP/USD reversed their retreating yesterday while GfK and the Nuremberg Institute for Market Decisions reported German consumer sentiment is expected to tumble in the last month of the year. Both Pound and euro are lower against the dollar currently. USD/JPY accelerated its retreating while AUD/USD reversed its sliding on Wednesday with both the yen and the Australian dollar lower against the Greenback currently.

The US stock index futures are mixed currently while markets will be closed today for Thanksgiving holiday. US stocks closed lower on Wednesday with the three main US stock benchmarks recording daily losses in a range from -0.6% to -0.3% as the personal consumption expenditures price index, the Fed’s preferred inflation gauge, rose 2.3% in the 12 months to October, up from 2.1% in September.

European stock indexes futures are up currently after closing lower on Wednesday with technology and construction shares leading losses. Asian stock indexes futures are mixed currently with Japan’s Nikkei leading gains.

Brent is retracing higher presently. Prices ended mixed on Wednesday after the Energy Information Administration reported US oil inventories fell last week while gasoline stockpiles rose. The US oil benchmark West Texas Intermediate (WTI) futures slid 5 cents but is higher currently. Brent crude gained 2 cents to $72.83 a barrel on Wednesday.